Chancellor Prioritizes Regional Growth at UKREiiF Event

Regional growth is set to receive a significant boost as the government intensifies its efforts to deliver on its regional growth agenda, announced during the UK Real Estate Investment & Infrastructure Forum (UKREiiF) this week. The Chancellor, reinforcing the vision presented in her Mais Lecture earlier this year, underscored the government's commitment to supporting city regions. This will be achieved through partnerships with mayors and local leaders, as well as by attracting private investments that will create jobs, drive regeneration, and foster opportunities in communities across the UK. At the UKREiiF, key stakeholders including investors, developers, and local leaders convened, showcasing how the government is transitioning its growth strategy into tangible, region-focused outcomes. The Chancellor unveiled a series of major regeneration initiatives across the UK, funded by the City Investment Funds. This funding aims to equip mayors and local leaders with essential resources to tackle unique challenges in their respective areas. The following regions will experience substantial benefits from these initiatives: **Greater Manchester** - The Oxford Road Corridor innovation cluster is set to expand, adding 225,000 sq ft of new office space and attracting nearly £120 million in private investment. - Acceleration of the Victoria North project in Red Bank will unlock 446 new homes alongside £170 million in private investment. **Liverpool** - Four key city center projects will be backed, resulting in 450,000 sq ft of new Grade A office space—the first new build of its kind in the Central Business District in over 15 years—creating approximately 2,500 jobs. - Regeneration focused on heritage will also yield an additional 140,000 sq ft of Grade A workspace. - New lab-enabled spaces are being developed in the Knowledge Quarter to support health and life sciences industries. **North East** - Significant regeneration projects are advancing in Newcastle and Gateshead, including location-specific developments such as Gateshead Quays and Newcastle Helix. - The Durham Innovation District at Aykley Heads is set to deliver around 350,000 sq ft of commercial office space, supporting approximately 4,000 jobs. **South Yorkshire** - The Sheffield Moorfoot regeneration initiative aims to unlock 1,600 new homes and create a development value of £300 million. - The city center’s ‘Innovation Spine’ project will facilitate new opportunities for top-tier office, science, and innovation developments. **West Yorkshire** - The regeneration of Temple Works and the surrounding Temple District will enable about 3,500 homes and at least 150,000 sq ft of commercial and leisure space. - Funding of up to £12 million will support the construction of 570 homes at West End Riverside. - An additional £7 million will further enhance development at Meadow Lane, contributing 246 homes and over 200,000 sq ft of Grade A commercial space. During UKREiiF, the government reaffirmed its dedication to modernizing and investing in the Civil Service estate beyond London. Investments in Manchester through the new Digital Campus will unify over 8,000 personnel from various departments. In Darlington, the Treasury is being integrated closer to local communities, while a new hub in York Central aims to enable local regeneration, including an additional 2,500 homes. New prospectuses for inward investment have been launched for the Northern Growth and OxCam Growth Corridors. These documents highlight the fresh opportunities that are establishing both regions as prime locations for global investors. The Chancellor also confirmed plans for a fiscal devolution roadmap within the upcoming Budget. This initiative will empower local leaders to strategically plan, invest in vital infrastructure, and fulfill transportation, housing, and regeneration needs without additional taxpayer burden. An interim progress report on this roadmap will be published by the Treasury in the summer. A Mass Transit Taskforce will examine obstacles hindering mass transit project delivery, utilizing best practices from around the world to find solutions for quicker implementation in cities. This independent Taskforce, chaired by Bridget Rosewell CBE, will be based on the successful Fingleton review which addressed nuclear project delays. The Taskforce's work is already in progress, with evidence collection underway ahead of its first recommendations due in six months. The Department for Transport will provide further details soon. Additionally, the Chancellor announced plans to delegate decision-making authority regarding Transport and Works Act Orders to Mayors. A consultation will launch in the autumn to define the powers to be devolved, equipping mayors with the necessary tools to develop public transport networks, such as trams, for their regions. Earlier this week, Exchequer Secretary Dan Tomlinson confirmed the expansion of the Royal Armouries museum, backed by the Leeds City Fund. This project aims to create around 3,500m² of new conference and exhibition space, enhancing the city’s capacity to attract significant events and supporting over 400 jobs. Expected lifetime GVA from this funding exceeds £700 million, acting as a catalyst for growth in South Bank and the city center. For further details, you can view the original announcement [here](https://www.gov.uk/government/news/chancellor-puts-regional-growth-at-top-of-the-agenda-at-ukreiif). For more insights on regional development and investment opportunities, check out [Globe Migrant's resources](https://www.globemigrant.com/resources) and [strategies for economic growth](https://www.globemigrant.com/economic-strategies).

Chancellor Prioritizes Regional Growth at UKREiiF Event

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