Business Manchester has reported that the COVID-19 pandemic may have boosted the Government’s regional rebalancing strategy to benefit areas including the North West, according to the UK chief economist at global commercial property services company, Colliers International

Speaking at a recent Northern Powerhouse Regional Economic Briefing webinar, Dr Walter Boettcher said: ‘Regional rebalancing that lies at the heart of Government economic planning may have just received an unexpected, but decisive boost.’

Explaining that while many investors viewed the COVID-19 crisis as a temporary interruption of pre-pandemic trends, others perceived ‘the beginning of a large-scale change in the patterns of commercial activity and use of real estate’.

Some London occupiers may consequently seek to grow their existing regional footprints or establish new regional footprints altogether, in order to reduce the density of their existing office use.

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Business Manchester - UK regional rebalancing may be boosted by COVID-19 response