Reaction to the Airports Commission report
Following this morning's announcement, CBRE's Head of Research Miles Gibson responds:
This recommendation sends a message that the city is open for business, and critically that London now has the capacity to strengthen business relationships from Shanghai to Sao Paulo. Alongside major rail and road investment in West London, including Crossrail, the Heathrow area now has the backing to become the true economic hub that many have called for. This announcement represents excellent news for both the local and metropolitan commercial property markets, with particular potential for retail, offices, logistics facilities and hotels to benefit. The Thames Valley will be a big beneficiary, and we eagerly await to hear how the government plans to take this recommendation forward.
Miles Gibson, Head of UK Research at CBRE