From the beginning of January on the commercial property scene throughout Wyre Forest levels of enquiries started to rise and interest generally improved as companies thought they could see continued prosperity both in the home market and overseas. Then has come what must be the longest general election campaign ever which has sent turmoil into the market such that the Chamber of Commerce has called for its members to remain calm and positive whilst the politicians set out their stall to try and gain votes. Regrettably uncertainty about continued membership of the Common Market after a referendum and the continuing problem with the deficit have tended to make many companies who have seen positive growth in their business not knowing whether to expand and acquire larger premises or to tread water until after the General Election result is known.

Never has there been such a long build up to a General Election and it calls into question as to whether there should have been a pre-determined date as opposed to the government calling for a General Election when they thought the time was right. Combine this with the fact that so far there is no guarantee as to which party will form a government and whether we shall have a coalition again then the political turmoil is proving not to be good for business. With many local companies who could see positive economic growth overseas having to cope with a strong pound, the possible fragmentation of the European Union then this combination is probably the worst possible for the commercial property industry.

Throughout Wyre Forest there are many companies who we know are struggling with theie existing floor space they have and would dearly like to move to bigger premises but it appears that plans are on hold for the time being. It is however encouraging that several lots forming part of the former Sealine Premises in Worcester Road, Kidderminster have been sold and Wyre Forest is definitely now being recognised as a commercial centre in the Midlands which has shown economic prosperity.

Reports recently have shown that in the south of England the percentage of empty shop premises has reduced despite internet sales over Christmas being at their highest level. Sadly this does not seem to be the case in Wyre Forest. The changes in retailing are not helping small businesses during the post-Christmas period and a number we have spoken to recently are reporting that they are holding their own in a difficult market. There seems little doubt that the economic prosperity of the area will need to be sustained before larger retailers have the confidence to take shop premises in the older part of Kidderminster town centre.

In Stourport and Bewdley it is hoped that as Easter approaches and the start of the tourism season that these small retailers will see the crowds return and that the public do not stop spending as the General Election grows close.

For many years there have not been so many uncertainties which can affect commercial property and it is hoped that as the year progresses the General Election and the possible referendum on Europe are past that businesses will be able to put their plans for expansion into place and acquire larger premises from which to operate.

Each year different factors affect business confidence and growth in property values but this year with so many uncertainties it will be interesting to see if the middle and later part of this year see a calmer commercial property market once the political scene has settled down with the new government.