Market intelligence (from local data and different property market areas functioned, discussions with developers and cross-checked between local authority data property agents, recent surveys of and Savills’ own economic data, and business needs or engagement with involved interviews with businesses and business and economic forums). other stakeholders. This review included exploring rental yields and land values. Market signals, such as levels and changes in rental values, and The Cambridge Cluster at 50 (RD/E/060), differentials between land values in commissioned by EEDA, also involved different uses. extensive interviews with the business community. The Cambridge Cluster at 50 Public information on employment land study is a key piece of evidence base that and premises required. has informed the Councils’ Plans. The locational and premises requirements of particular types of business. M Paragraph: 030 Reference ID: The Councils’ Infrastructure Delivery Study (RD/T/010) and the Update (RD/T/020) were Information held by public sector produced to accompany the Local Plans. bodies and utilities in relation to These were used to identify infrastructure infrastructure constraints. constraints. The production of these documents involved consultation with other public sector bodies and utilities. N Paragraph: 030 Reference ID: Both the ELR 2008 (RD/E/010) and the ELR 2012 (RD/E/020) considered the existing The existing stock of employment land. stock of employment land and buildings. This will indicate the demand for and The ELR 2012 (RD/E/020) considered supply of employment land and statistics on take-up as well as a range of determine the likely business needs other primary and secondary data. This is and future market requirements (though used to help inform the likely business it is important to recognise that existing needs and future market requirement for stock may not reflect the future needs employment land. of business). Recent statistics on up of sites should be consulted at this stage, along with other primary and secondary data sources to gain an understanding of the spatial implications of demand’ for ‘revealed employment land. O Paragraph: 030 Reference ID: The ELR 2012 (RD/E/020) also looked at physical and ownership constraints that may Identification of oversupply and prevent sites coming forward. It does not evidence of market failure (e.g. physical identify any specific constraints, but does or ownership constraints that prevent note the lack of speculative employment the employment site being used development in the area. effectively, which could be evidenced
Market intelligence (from local data and discussions with developers and property agents, recent surveys of business needs or engagement with business and economic forums). Market signals, such as levels and changes in rental values, and differentials between land values in different uses. Public information on employment land and premises required. The locational and premises requirements of particular types of business. different property market areas functioned, cross-checked between local authority data and Savills’ own economic data, and involved interviews with businesses and other stakeholders. This review included exploring rental yields and land values. The Cambridge Cluster at 50 (RD/E/060), commissioned by EEDA, also involved extensive interviews with the business community. The Cambridge Cluster at 50 study is a key piece of evidence base that has informed the Councils’ Plans. M Paragraph: 030 Reference ID: Information held by public sector bodies and utilities in relation to infrastructure constraints. The Councils’ Infrastructure Delivery Study (RD/T/010) and the Update (RD/T/020) were produced to accompany the Local Plans. These were used to identify infrastructure constraints. The production of these documents involved consultation with other public sector bodies and utilities. N Paragraph: 030 Reference ID: The existing stock of employment land. This will indicate the demand for and supply of employment land and determine the likely business needs and future market requirements (though it is important to recognise that existing stock may not reflect the future needs of business). Recent statistics on of sites should be consulted at this stage, along with other primary and secondary data sources to gain an understanding of the spatial implications of ‘revealed demand’ for employment land. Both the ELR 2008 (RD/E/010) and the ELR 2012 (RD/E/020) considered the existing stock of employment land and buildings. The ELR 2012 (RD/E/020) considered statistics on take-up as well as a range of other primary and secondary data. This is used to help inform the likely business needs and future market requirement for employment land. O Paragraph: 030 Reference ID: Identification of oversupply and evidence of market failure (e.g. physical or ownership constraints that prevent the employment site being used effectively, which could be evidenced The ELR 2012 (RD/E/020) also looked at physical and ownership constraints that may prevent sites coming forward. It does not identify any specific constraints, but does note the lack of speculative employment development in the area. up