Doolittle & Dalley’s commercial department has seen another month of sustained interest in commercial property throughout the Wyre Forest area, with not only small factory units being let, but also for the first time in two years there seems to be a slight improvement with regard to the letting of offices.

The office sector has been particularly hard hit due to a number of factors and although there is still no shortage of office accommodation in the area, last month office suites which have been empty for some time have now been let and the interest in offices seems to be increasing.

Following the closure of Sealine, the property is now for sale and one would anticipate that a site this size is likely to generate considerable interest. It will be interesting to see whether this remains as a manufacturing unit or whether prospective purchasers look for alternative uses.

This area of Kidderminster has in recent years become more of an out of town retailing area, rather than industrial and commercial. It is unfortunate that there still seems to be a decline in manufacturing and it is hoped that as the former sugar beet factory is developed, that this will attract more manufacturing to the area.

We have also seen growth in service industries brought about through the general improvement in the economy and from recent enquiries we have a number of small companies who are looking at ways in which to improve and expand their business. Surely these signs must be evidence of the end of the recession.

When looking back at previous recessions which were not as severe as the one we have had recently, it is unfortunate that some companies who have been ‘hanging on’ waiting for better times may now see this as an opportunity to dispose of their business and obtain a better price.

The reports from the government on unemployment having reduced are encouraging, but one wonders just how true these figures are and whether those entering temporary or part time employment are perhaps muddying the statistics.

Sixteen-year-old school leavers who are not taking A-Levels to feed into university, must now pursue a vocational qualification or stay in education until the age of 18, again suppressing unemployment figures for the immediate future.

With public spending still reducing we are clearly going into an era where private enterprise becomes that much more important and hopefully those that have an ambition to start and run their own business will see this as a time when perhaps the economic climate is such that new businesses will have a better chance of surviving. With business rate incentives still being available, this can be a help to a small business starting off.

As Christmas approaches the traditional slowdown in commercial property enquiry is anticipated, although the signs are looking quite encouraging for the beginning of next year.

It is hoped that interest rates still remain at an affordable level and with the euro zone recently having reduced their interest rates; it may be that it makes it more difficult for the government to increase interest rates here and still remain competitive with the euro zone.

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