Large Industrial Schemes Still The Great Hope For Worcestershire
November 2011Specialist Worcestershire property consultancy JP Dillon Commercial Property Consultants is celebrating the end of a successful first year in business. Managing Director John Dillon considers the current state of the Worcestershire property market.
There remain a significant number of large, 100,000 sq ft plus, requirements from major corporate distribution companies which are keen to take advantage of the county’s excellent communication links via the M5 and M42 motorways, its proximity to the South West markets and the local flexible workforce, but at present, frustratingly, there is nowhere to accommodate these. As a result there are still great opportunities for landowners to bring forward large scale schemes to meet these requirements, and we continue to work on a number of them.
The Worcestershire office market is considerably better placed than many people seem to think. Office space is selling, albeit at the right price, with purchasers and tenants being keen to take advantage of some good deals available. As well as achieving good sales and finding good tenants, we have been particularly active on acquisitions in the past year, acting for some large professional firms, such as Crowe Clark Whitehill, Thomas Horton Solicitors, Hayward Wright Accountants as well as for Bromsgrove charity NewStarts.
The Town Centre Regeneration market remains strong, particularly in Bromsgrove, where, as part of the Draft Area Action Plan, Bromsgrove District Council have highlighted key development sites which have proved to be of interest to both developers and occupiers. The first of these to come to fruition is the sale, to Aspen Retirement Living, of the 2.31 acre site on corner of Recreation Road and Market Street for a retirement village.
Our first year of trading could not have gone better, despite starting the business in the midst of one of the worst economic crises. It just goes to show that with strong professional advice, good local knowledge and outstanding service, property agencies can survive and thrive in any economic climate.
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