| Regeneration company Urban Splash is to limit its projects, saying it is "taking a cautious approach to new development activity" amid a raft of cost factors.
The company, based in Manchester, has properties in key towns and cities across the UK including in Sheffield, Birmingham, Cambridge, Bristol and Bradford, but is issuing a note of caution due to the "unprecedented levels of uncertainty and the prospect of a lasting economic downturn".
The company's change in strategy comes as it weighs up the lasting effects of Covid-19, the war in Ukraine and the UK cost of living crisis, with it detailing how interest rates, inflation, consumer confidence, economic growth, uncertain political climate and levels of employment can all reduce demand for its new properties.
The company outlines its plans in its latest accounts, covering the year to September 2021 and approved by the directors two weeks ago, which are covered here. |
