Last Word

RESIDENTIAL AND COMMERCIAL DEVELOPMENT IN WORCESTERSHIRE SHOW RESILIENCE SAYS GJS DILLON

l-R John Dillon, GJS Dillon Managing Director, Gary Woodman, Chief Executive of the Worcestershire LEP and Andrew Lewis, GJS Dillon Associate Director

The comment was made by Andrew Lewis, GJS Dillon’s Associate Director, at the launch of GJS Dillon’s Worcestershire Commercial Property Market Report 2021 which has been produced in collaboration with Worcestershire’s Local Enterprise Partnership.

“We need more high quality space particularly in the industrial market” said Mr Lewis, “So my message to public sector bodies is lets ensure that the allocation between commercial and residential land is done right and that we have more industrial developments concentrated around Worcestershire’s six motorway junctions.” The report is a snapshot of independent commercial property market data in Worcestershire’s office and industrial sub-markets in 2020, including Bromsgrove, Malvern Hills, Redditch, Worcester, Wychavon and Wyre Forest. Demand for high quality office space in the county has remained largely unaffected by the pandemic and industrial property is going from strength to strength amidst a flourishing e-commerce market. Junctions 4 to 7 of the M5 and Junctions 1 and 2 of the M42 provide a ready-made infrastructure around which to base new industrial and business parks offering a range of industrial units, from 1,000 sq ft to 25,000 sq ft and of offices from 500 sq ft to 5,000 sq ft to rent and to buy. Worcester Six at Junction 6 of the M5 is an example of successful industrial development, but crucially new developments would need to provide smaller units. The report also details how the recovery from Covid-19 is underway as office take up is starting to recover and the amount of downsizing less than expected. As for the future of the office market, GJS Dillon say that it may not bounce back to previous levels but instead companies will adapt a more hybrid model, this presents an issue for commercial landlords as the right space will be needed if companies are looking to adapt this strategy. There have been some interesting success stories when it comes to renting office space within the past 12 months. As exampled by the Worcester Porcelain Works site, which has been fully let during the pandemic. Gary Woodman, Chief Executive of the Worcestershire Local Economic Partnership, said: “This is a fantastic report because it helps us to shape our discussions within the LEP and with our local authority partners. The details gives us an insight into the individual sub-markets so if we are going to bid for Government development grants, we are able to make informed decisions.” John Dillon, GJS Dillon’s Managing Director, said: “Worcestershire’s commercial property market has been surprisingly resilient as the report indicates. We’d urge occupiers, developers and local authorities to read the report and come and talk to us about your plans going forward.” GJS Dillon’s Commercial Property Market Report 2021 can be found here

www.gjsdillon.co.uk/marketreport.

GJS Dillon would like to thank Worcestershire Local Economic Partnership, Harrison Clark Rickerbys and the Bransford Trust for their help in producing this year’s report.

There needs to be an even distribution of commercial and residential development to drive Worcestershire’s economic recovery forward according to a leading commercial property consultancy.

Why Choose Modern Office? Your Office, Your Home, Your Future

Choosing the right office furniture for your company is exciting and fun but it can also be a daunting exercise for any size business.

Modern Office offers many solutions to meet the requirements of your dream office layout. We offer a number of services, helping you to create the perfect space for your office, where employees can thrive. We start by looking carefully at the overall picture, taking into account not only the design and creative needs of your organisation, but all the finer details too. Style and appearance, colour scheme, fabric and finish are all fundamental, but these days it is also imperative that your office furniture meets a detailed array of ergonomic and safety requirements. With over a quarter of a century of experience in this field, Modern Office is the complete solution to all your business furnishing needs. Whether you are looking for stylish office chairs, practical office storage or an exquisite conference table, we are sure to have something for everyone.