Leisure out­paces North West growth but wor­ries emerge for over­sup­ply

Yorkshire Post - Business - - CAPITAL MARKETS -

THE LEISURE sec­tor in York­shire is grow­ing at a faster rate than the North West, ac­cord­ing to the lat­est re­search from global real es­tate ad­vi­sor Col­liers In­ter­na­tional.

Year-on-year sup­ply in­creased by 26 per cent in York­shire com­pared to 18 per cent in the North West.

Col­liers also found that peo­ple in the re­gion spend over 40 per cent more of their dis­pos­able in­come on recre­ation than the UK av­er­age. How­ever, the North­ern Soul re­port says that the food, drink and leisure sec­tor has en­tered “un­charted waters” with much talk of over­sup­ply in a range of lo­ca­tions.

Ben De­whirst, from Col­liers In­ter­na­tional’s Leeds li­censed and leisure di­vi­sion, said: “Leeds is one of the fastest grow­ing cities in the UK and its F&B mar­ket has blos­somed at a sim­i­lar rate. The city has con­tin­ued to at­tract lead­ing oc­cu­piers in new de­vel­op­ments such as Vic­to­ria Gate and con­tin­ues to en­tice sig­nif­i­cant in­ter­est when ex­ist­ing op­por­tu­ni­ties be­come avail­able with cur­rent units at­tract­ing strong pre­mium con­sid­er­a­tions.

“In Sh­effield, 57 per cent of the leisure stock is made up of cafes and ca­sual din­ing lo­ca­tions, the largest pro­por­tion out of all the north­ern cities we mon­i­tored.”

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