It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Dr Edward Ziff, Chairman and CEO at Town Centre Securities PLC (TCS). As we enter the new year, Leeds’ property sector is poised for transformation amid discussions on the cost-of-living crisis, inflation and rising interest rates. I feel this shift in focus is expected to drive efforts in rebalancing and fortifying the UK economy, with a specific emphasis on enhancing major cities in the North. Leeds is experiencing significant momentum in private rental and purpose-built student accommodations. Whilst anticipating a slowdown, I am confident that these sectors will remain resilient. The working landscape in Leeds seems to have adopted a hybrid model, reshaping office demand and emphasising the importance of environmental credentials for prime offices. Town Centre Securities PLC (TCS) has promptly responded by prioritising high-quality, multi-tenanted schemes and we are now exploring alternative uses, including office-to-student-accommodation conversions for key sites. In Leeds’ retail sector, grappling with online shopping challenges, our strategic portfolio diversification has reduced retail exposure from 60% to 19% over seven years. The focus persists on resilient segments such as food, discount stores, and convenience outlets and we expect this to continue. Consumer preferences for sustainability are driving transformations in Leeds’ property sector, aligning seamlessly with TCS’s commitment to high environmental standards, EPC A ratings, and BREEAM Outstanding certifications. The planned expansion of our CitiPark and CitiCharge electric vehicle charging infrastructure will also further cater to Leeds’ evolving needs. In conclusion, I hope our strategy stands resilient in navigating economic dynamics, leveraging strategic assets, adapting to work trends, and prioritising sustainability and I wish you all a prosperous 2024.

Business conditions are improving across South Yorkshire, according to the region’s latest Infrastructure survey. But the survey also says it’s worth noting that organisations are continuing to face significant inflationary pressures, and that many of them are forecasting an imminent rise in the costs of their goods and services. Conducted by the three regional Chambers of Commerce — for Doncaster, Sheffield and Barnsley & Rotherham — this questionnaire ran between November and December 2023, and was used to gauge the views of local business owners on a wide range of different issues. Chief Execs for all three South Yorkshire Chambers issued the following joint statement:“While none of our results are especially surprising — given the current macroeconomic climate and the assorted headwinds that businesses are contending with — they are nevertheless incredibly revealing. “Although there have been tentative improvements in sales figures and order books, growth remains weak across South Yorkshire and several factors are putting additional pressure on firms at the moment; most notably high levels of inflation, rising interest rates and corporate taxation. Meanwhile, recruitment continues to be a perennial sticking point for many organisations in the region, with 85% of the firms that have tried to recruit in this last quarter having struggled to do so. “Of course, these findings are in line with the national trends being observed by our umbrella body, The British Chambers of Commerce (BCC) right now. As such, we are echoing their call for a long-term plan for growth from the Government, and are similarly urging politicians to remain focused on growing the economy and helping businesses thrive, as they head into a noisy election year. “On the subject of South Yorkshire’s transport infrastructure, our survey respondents made it clear that improvements are widely needed. The majority of organisations (65%) reported that they are facing regular delays on the roads, while over a third of them also pointed out similar problems with our rail networks and our public transportation services. “In turn, these various issues are leading to increased travel costs for firms, restricted access to prospective employees and even the loss of some business opportunities.” Peter Kennan and Sam Chapman, Co-Chairs for the South Yorkshire Transport Forum, added: “These findings are very much aligned with what businesses have previously told us and reaffirm many of our own priorities. It is particularly clear that opportunities to enhance business at home and abroad are being negatively impacted by poor infrastructure in the region, which is why we must continue to press for investment in our road networks, railways, trams and buses.” Oliver Coppard, Mayor of South Yorkshire, said: “I’m grateful for this report, and the insight it offers into the challenges facing our businesses, entrepreneurs and innovators. It offers yet more evidence that our shared priorities are the right ones: better public transport, skilling up our communities, and making economic growth a priority. Because I am determined to build a bigger, better economy in South Yorkshire. “Of course that has to be a partnership between the public and private sector, and between us here in the region and national government. None of the challenges we face are easy to overcome but I will do everything I can to help our brilliant businesses to thrive, and continue to push Westminster to do the same.”