Commercial mortgage holders in Northumberland 'to see regional growth'

25 February 2011

Written by David Whittaker

Commercial mortgage holders in Northumberland may benefit from regional growth, as market towns are driving the expansion of the local economy.

This is the opinion of Mike Birkett, director of retail agency at BNP Paribas Real Estate and GVA consultant of national markets – offices Ian Parker.

In an article for nebusiness.co.uk, the experts explained that market towns in the area are spurring economic expansion.

Mr Parker noted the growth of industrial estates in Ashington, Cramlington, Alnwick, Hexham, Berwick and Morpeth.

These developments are creating employment, with a wide range of manufacturing companies set up in the area, including Merck Sharp, BASF and Dohme.

Meanwhile, Mr Birkett said the region was attracting tourism, with its many castles, with the money spent by visitors encouraging business development.

Northumberland County Council recently stated that its ageing population offered an opportunity for businesses to adapt to the market emerging from this demographic.

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