New research identifies opportunities for more affordable housing, additional workspace, improved infrastructure and economic growth under ‘Urban Dorset’
The forthcoming merger of Bournemouth, Christchurch and Poole (BCP) councils into a single unitary authority known as ‘Urban Dorset’ could create a flourishing economy to rival cities such as Bristol according to new research by real estate advisor, Savills.
The Dorset council merger, scheduled to take place in April 2019, will offer opportunities for business growth, improved infrastructure and affordable housing, according to the report, ‘The New Urban Dorset’
Bringing together the three boroughs under the control of one authority creates a district similar to Cardiff in terms of economic output, productivity and jobs, with a population only 14% smaller than Bristol.
The creation of Urban Dorset provides a major opportunity to reinvigorate the area via strategic planning to deliver a joined-up approach, to use its greater influence as the 12th largest district in England to secure public and private sector funding, and to improve road and rail links to ease movement and allow for economic growth.
The report identified the potential to create what it has termed ‘Silicon Beach’;- an economic hub for the creative and digital industries, with the region already housing the fourth largest concentration of these businesses in the UK. The report recommended expanding the proposed 5G pilot scheme – which will be the first of its kind nationally – to offer world class digital connectivity across Urban Dorset, attracting further economic investment into what has the potential to be the natural home of tech and creative start-ups in the south of England.
Specifically, Savills highlighted three areas that will be unlocked for more workspace via Urban Dorset: Talbot Heath, on the Bournemouth / Poole boundary and adjacent to two universities, is ideally located to accommodate the type of space needed by the tech, media and creative sectors; the airport business park between Bournemouth and Christchurch, provides an exciting chance to expand and attract new business, and new space at Poole Harbour will provide the opportunity to elevate BCP’s marine engineering industry to the next level.
House prices in BCP are currently between 9 and 12 times average regional earnings, compared to the national average of 8, with only 15% of housing stock currently within the reach of the average wage earner. In order to support economic growth and attract new business, Urban Dorset will need to deliver many more homes affordable to local residents across a range of tenures.
Lucy Greenwood, research analyst explains, “There has been an undersupply of housing in BCP over the last twenty years, partly due to the constraints of the sea, heath land and the Green Belt. Current annual building statistics are running at 48% under the Government’s recommendation of housing need of 2,160 homes per year.
“We expect that Urban Dorset will need to produce a new Local Plan when it becomes a new unitary authority. Alongside the existing local need there will be additional housing requirement driven by the ambition to grow employment. Both releasing Green Belt and unlocking brownfield sites will be critical to meeting the housing need. Across BCP there are a number of brownfield sites with the capacity to release 11,000 homes. However, affordable housing provision has previously been constrained by the relatively high costs of redevelopment. Supported by the new local authority framework, the Local Enterprise Partnership aims to secure a government affordable housing deal worth £215 million for Dorset.”
Clare Bailey, commercial research analyst, adds: “BCP is already a prosperous business hub, but it has a chance to really punch above its weight if it successfully delivers new workspaces to attract new companies, particularly those from the tech, engineering and creative industries. Lansdowne, Talbot Village, the airport business park and Poole Harbour in particular are all zones that are ripe for growth if more offices and incubator space can be provided. The speed at which new office space in Lansdowne has already been pre-let this year shows there is a build-up of demand already in the market waiting to be unleashed”.