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Orbit lettings leap indicates strengthening of Stockport economy

Stockport Town Centre’s economy is continuing to expand, according to the latest lettings figures from the town’s largest landlord, Orbit Developments, which look set to be the best in over 5 years.

Orbit reports it has let 25,000 square feet of commercial property space in the first six months of this year across its portfolio of 12 town centre buildings, with a high amount of interest in the rest of the portfolio.

The figures comfortably beat Stockport town centre’s average total annual commercial lettings figure of 44,000 square feet over the past 5 years.

The growth that has come follows a prolonged campaign by Orbit to change the perception of Stockport and profile as a place to base a business.

It has recently attracted several high end software development businesses which is in turn bringing in a new generation of IT professionals to the town and a number of UK head offices for international operations.

Recognising the potential in the town centre, Orbit has called for commercial property agents to reappraise what the town has to offer and even brought in Olympic track star Kriss Akabusi to talk about the power of belief in a place.

It is understood that SKY’s call centre operation at St Peter’s Square has also just extended its lease by a further 16,000 sq ft, leaving just one retail unit available in the building.

In other moves, the Stockport Old Town brand has assisted in increasing footfall in the historic areas of the town and community interest company Vision Stockport is aiming to create a more vibrant town centre.

Orbit has invested over £40,000 in sponsorship and development of local events in the last two years, such as the Headlander Festival, the Life Leisure Stockport 10k Run, the Stockport Old Town Fringe Festival and the Stockport Business Awards.

The commercial lettings company has also invested heavily in its property portfolio, modernising office space, updating technology, including broadband connectivity, offering flexible spaces for businesses and introducing the SK One reward scheme for its customers.

Investment in Stockport’s commercial infrastructure is also paying dividends for the town with high profile businesses committing to the region. Software company CDL’s expansion into a cutting edge office in the town created 50 new jobs, while independent brewers Robinsons has invested over £12 million in refurbishing its portfolio of pubs and a new visitors’ centre and restaurant.

Orbit Developments Managing Director, Tony Jones, said: “We’re now seeing our investment in supporting events and activities in Stockport bearing fruit and benefitting the town. The We Are Stockport campaign and the planned introduction of the Stockport Business Improvement District (BID) scheme are creating momentum for the initiatives producing positive change in the town.

Businesses in the town and, indeed those looking to relocate, can be assured that Stockport has all the elements required for economic success, which is great for the town, but also good news for the wider North West area.“

The initiatives, along with Stockport BID, which has the potential to raise up to £400,000 per annum via a 1% levy on business rates, have seen significant progress made on major infrastructure projects.

The 400,000 square feet Stockport Exchange project is underway, and work has also started on the £363 million improvements to Stockport’s transport infrastructure, while the £42 million Stockport Interchange is set to connect the region’s transport networks.

Orbit Development’s Leasing Manager, Rhys Owen, added: “We know we needed to change people’s opinion of locating a business in Stockport, and over the last six months we have seen a clear shift in perceptions. The draw of Manchester city centre is understandable, but Stockport has everything a business needs to flourish and more. If we work together to showcase what is great about the town and the borough, we can make that positive change happen.”

This was posted in Bdaily's Members' News section by James Welton .