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Business booms

Ian Appleby, commercial property curveyor of Stourbridge Agents, Lex Allan Commercial, provides his monthly review of the current local commercial property market and looks forward to 2015.

Recovery momentum builds

MORE encouraging news for Stourbridge with the RICS Commercial Market Survey for Q3 2014 reporting that the recovery in the commercial property market is becoming more balanced, with momentum building to areas outside London and across the different sectors of the market. Tenant demand in the occupier market remains firm, with the industrial sector exhibiting the strongest results. At the same time property availability appears to be contracting at the fastest pace on record, particularly in the office and industrial sectors, with the supply of offices being reduced by conversion of office space into residential. The value of incentive packages offered to tenants continues to fall for the fourth period in succession.

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