Experts have described how mass employment at BAE Systems will drive Barrow’s property market.
David Corrie of Corrie and Co estate agents – a partner of Choose Cumbria – predicts a boom in Barrow as a result of the Trident Successor programme being given the go-ahead.
He said: “It has a significant impact on both the rental market and the house sales market because we‘ll have a combination of people who are here for three to five years, who may rent rather than buy, and then there will be those who see what the area is about and decide to stay even when their employment changes.
“On top of those who come in to the town to work for BAE Systems itself, you’re also looking at those who come to join the supply chain. It’s a major economic boost.”
Mr Corrie’s views are shared by experts at up-and-coming property developer Blake Henderson, which renovates Barrow buildings to bring more high quality accommodation onto the market.
Founder of the firm Andi Cooke added: “BAE Systems is a driving force. The investment that goes into our projects goes through the local supply chains as well because we’re using local people and local resources.
“I know BAE Systems are very pleased with the amount of refurbishment we’ve put into these properties, because it fits with their philosophy to regenerate the area they work in.”
At peak, BAE Systems anticipates having 5,000 to 6,000 people working on its new submarines.
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