German cities dominate the investment prospects for Europe’s commercial real estate sector as investors favour safe havens according to a new report – Emerging Trends in Real Estate Europe 2013. Munich tops the league table followed closely by Berlin in second place and Hamburg in fifth position, with investors taking comfort from each of the cities’ strong local micro-economic climate and resilient property market conditions. London, which is seen by many as Europe’s safest investment, is the largest riser in this year’s report taking third position.  More →

The application to build a new business district within the government-designated Airport City enterprise zone in Manchester has been granted outline planning permission by Manchester City Council. The UK coalition government made the area one of its first four “vanguard” enterprise zones in March 2011 to provide fastrack planning and tax breaks to encourage rapid development. The application involves the creation of  113,400 sq. m. of office space, 49,000 sq. m. of industrial units, and 5,800 sq. m. of retail and leisure facilities on the outskirts of Manchester. The £650 million scheme is anticipated to create over 11,000 jobs over the next 15 years.

The National Audit Office has called on the UK government to provide greater clarity to taxpayers and consumers on how it will meet its national infrastructure plan. The government expects £310 billion to be spent by 2015 and beyond on new infrastructure projects in sectors such as energy, rail, roads, water, waste, flood defences and digital communications. The government is looking to private companies to own and finance around 64 per cent of the £310 billion, with the burden of funding likely to shift towards the public as consumers rather than taxpayers.

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