Philip Morton, Director at DTZ in Bristol comments on news that UK Transport Secretary Philip Hammond is said to be drawing up plans for a £500m rail scheme linking Bristol and south Wales with Heathrow Airport:
“News that Bristol could benefit from a direct rail link to Heathrow Airport will provide a welcome boost to the south west regional economy.
As well as removing the need for passengers to travel into London before heading out to the airport the scheme would cut 30 minutes off journey time and connect the south west to the proposed HS2 high speed rail link.
The scheme could also open up opportunities for inward investment to Bristol and allow access to international markets.
Recent research from DTZ predicts that occupancy costs are set to increase modestly over the next three to five years and Bristol, with its good supply of grade A accommodation and deliverable development pipeline, is well placed to benefit from lower occupancy costs when compared to London and more expensive regional locations.
This proposal, combined with the Enterprise Zone planned for the area around Temple Meads station, are positive indicators that Bristol is in a strong position to compete with other regional centres.”