The Central South is a true centre of excellence, home to world class universities, vital ports and airports, and pioneers in the defence, aerospace, and maritime industries.
The region has undergone significant transformation of late. Whether it’s the Solent Freeport or large regeneration schemes in Southampton and Portsmouth, there is a constant and exciting pace of change.
Underpinning these bold projects is a continual reinforcement of the region’s underlying connectivity and infrastructure. Cavendish has been at the forefront of this change, advising Southampton and Farnborough Airports on their proposals, and working with AQUIND to deliver a new interconnector between Portsmouth and Le Havre.
In 2024 and beyond, there will be ample opportunities for the region to further expand and grow, seizing upon the opportunities presented by changing national and local politics and policy.
Levelling Up
The Government’s Levelling Up and Regeneration Bill has now received royal assent. With it there is an aspiration for devolution enshrined in law, facilitating the creation of combined authorities, which enjoy greater funding powers and better scope to attract inward public and private investment. While early attempts to secure devolution deals across the region have encountered difficulty, this avenue remains an exciting potential future growth opportunity for the Central South.
The Government’s Levelling Up Fund has also been a boost to the region, with successful bids for Portsmouth’s visitor economy, coastal communities in Bournemouth, Christchurch and Poole, and Gosport’s historic waterfront. The last round of the £4.8bn fund is set to be distributed in 2024/25, with its future beyond the next general election yet to be determined.
A Labour future?
The likely prospect of a Labour government after the next general election opens up further possibilities. Labour’s plans for considerable green investment, and to establish Britain as a clean energy superpower, would likely provide a considerable new stream of inward investment to the region’s well placed advanced engineering and manufacturing firms.
On housing, the New Towns policy announced by Sir Keir Starmer in his Party Conference speech, for up to 6 new towns, could see the delivery of new homes to address the region’s significant unmet housing need, with Cavendish continuing to support O’Flynn Group’s proposals for a new town at Micheldever Station near Winchester.
Labour’s rumoured spatial development framework, a regional/sub regional housing strategy with enforceable targets intended to deliver 300,000 homes a year, could also serve to bolster housing delivery. However, local authorities across the region may take issue with this policy, which is rumoured to supersede local plans and weaken local control over development.
Partnership for South Hampshire
The Partnership for South Hampshire (PfSH), formed of 12 local authorities in and around the Solent, including Portsmouth, Southampton and Hampshire County Council, is a positive example of local leaders working together to address the need for sub-regional cross-border partnership, and is to be commended.
In seeking to grapple with a combined unmet housing need of 11,771 homes, in December 2023 PfSH leaders endorsed a new Spatial Position Statement which identifies seven Broad Areas of Search for Growth in Eastleigh, Havant, Test Valley and Winchester. PfSH estimates these areas could provide land for up to 9,700 new homes. While this is still some 2,000 homes short of the total unmet housing need across the PfSH area, this would be a significant contribution toward unmet need across the Central South, and is a proactive approach that helps address the long-term absence of more formal strategic planning in the region.
Central South – a new growth hotspot?
In summary, there are many prospective opportunities for new growth and development on the horizon. These are opportunities that must be seized as and when they arrive.
This will serve to further unlock the potential of the Central South as the UK’s global gateway, and further advance the growth and prosperity ambitions held by local, business and political stakeholders.
Building upon the solid foundation of an already prosperous, well-connected region, the Central South is excellently poised to become a national hotspot for inward investment, productivity, innovation, new homes and growth in the years to come.
