Over the last month further signs of growing confidence in the business sector are still evident when relating this to enquiry for commercial property.

Although we are still not at a stage where there is likely to be much in the way of growth in either capital gain or rental values, at least it can be reported that values are stable and not dropping. This is based upon levels of interest and recent lettings of both industrial and small retail property; although the office sector and town centre retail is still weak.

One wonders whether the local office market will ever improve as with mobile information, connectivity increases and the need for office-based personnel reduces.

It is only ten years ago that office accommodation in Kidderminster Town Centre was very much in demand and the change brought about through the internet and advances in technology have had a huge impact on the demand for office accommodation, in particular larger suites.

There is now no need for companies to pay town centre rents for offices and the associated high overheads with business rates and car parking. Whereas there will be some companies who are growing who will need offices, the predictions for large office user requirements in the Wyre Forest area are likely to be relatively low. As has been previously reported, the future for such accommodation is likely to be conversion to residential living accommodation, which hopefully will help breathe life into town centres.

Fortunately small relatively cheap shop accommodation in out of centre areas is in demand and one such vacant shop recently with in the first week had four good enquiries from small companies wanting to rent the property. It is unfortunate that the same trend is not continuing in the town centre.

Recent unconfirmed reports have been received that the former Boots premises in the Swan centre, Kidderminster have now been let to a discount retailer, which is good in so far as it should increase footfall within that part of town although the town centre does need more big high street names to take space other than on Weavers Wharf, where all premises appear to be let.

Shop premises in Bewdley and Stourport are quite popular although in Stourport there are now several empty shops.

We have tenants who are reporting steady trading and need good weather to attract the tourists on which the town centre so much relies.

Bewdley town centre seems busy and shopkeepers with whom we have had contact are reporting steady business, although again they need the influx of tourists to increase takings.

The levels of enquiry for industrial property are growing and we are seeing situations where companies are now reporting a shortage of space in their existing premises and looking to expand. It is hoped that this trend will continue.

To summarise the economic recovery seems to be happening although it is still quite fragile.

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