Posted on: 06 September 2019
Construction to boost the North’s economy
In 2010, the Conservative and Liberal Democratic coalition government announced their proposal to boost the economic growth of the North of England, by providing infrastructure for the major Northern cities, Manchester, Liverpool, Leeds, Sheffield, Hull and Newcastle.
The proposal has remained a government policy since then, and with this continued development comes opportunities in the construction industry. Read below to see some of the exciting projects coming to the North of England under the Northern Powerhouse scheme.
Projects coming to the North of England
The Factory, Manchester
Currently under construction on the former Granada Studios site, the £110m theatre and art complex will open in 2021 and will house a 1,500 capacity theatre and a warehouse space with a capacity of 5,000.
The Manchester International Festival estimated that The Factory will attract 850,000 visitors a year and will host some of the country’s best art projects, including dance, theatre, music, opera and visual arts.
High Speed Two (HS2)
The high-speed train service has been a controversial topic of late. Transport Minister Grant Shapp, has recently announced that the project will require additional funding, rising from an original cost of around £55bn to somewhere between £81bn to £88bn, as of September 2019.
The first phase of the new rail system aims to drastically cut down the time it would take to get from London to Birmingham, with phase 2 set to connect Birmingham to Manchester and Leeds and has been estimated to be completed in 2040. The journey from London to Leeds is estimated to go from around 130 minutes to just over 80 minutes, and London to Manchester is estimated to come down from 125 minutes to around 65.
A1 road to Newcastle
Starting construction in 2018, the A1 from London to Newcastle is currently undergoing a £400m upgrade, as part of the £15bn investment in roads strategy. It is estimated that people who use the road will benefit from saving 3,000 journey hours a day.
Eden Project North
Eden Project founder, Sir Tim Smit, and Eden Project International, David Harland, have decided to bring the Eden Project North to the small coastal town of Morecambe, a short drive away from Premierline’s office in Lancaster.
The project will bring benefits to the local area, such as 500 new jobs and a renewed tourism for Morecambe. Work for the site has already been pencilled in to begin in March 2020 with the complex potentially opening as early as 2022. It is estimated that the new attraction will bring in 3,000 people a day.
Keadby 2 power station
Based in Scunthorpe, North Lincolnshire, Keadby power station will be getting a second power station worth £350m. The project was given the go-ahead in 1993 but improvements in technology have delayed the construction so that the power station can have the most modern technology available.
Construction started in October 2018 and is due to finish in 2023.
Insurance with Premierline
The construction industry will become more interesting and exciting in the coming years with major investments in UK infrastructure up and down the country. However, the industry also carries a large amount of risk.
Premierline is a business insurance broker with a wealth of experience in arranging commercial and industrial insurance as well as contractor insurance quotes for business from all over the UK. Our business insurance experts will assess your business’ needs and work with some of the UK’s most well-known insurance companies to source the right insurance package that protects your business and your livelihood. Get in touch with one of our insurance advisors today to discuss your insurance requirements.
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