Flint Bishop

Promising signs for Worcestershire’s commercial property market

Visits to the Worcestershire Property Search (WPS) website rose by 36 per cent compared to 2009/2010, according to annual figures released this week by the county's leading business property finder service.

New registrations for the service which is offered by the local district and county councils and managed by Herefordshire and Worcestershire Chamber of Commerce also rose by seven per cent during the same period.

Encouragingly more than one in five businesses cited expansion as their primary reason for using the service whilst 40 per cent of those who registered during the past 12 months were seeking premises for start-up businesses. 

Despite the continued economic downturn, just one per cent of the site users cited the need to downsize as the key factor in their use of the site.

The one-stop shop which brings together all of the county's available premises at a touch of a button has also increased in popularity among local commercial property agents. Engagement with the service by the county's agents and property consultants has increased by 52 per cent during the past 12 months and, as a result, the database now carries details of more than 1,000 commercial properties in Worcestershire.

Donna Harding, who manages WPS, said: "This year's annual report paints an attractive picture of Worcestershire as a prime location for growing businesses.  

"Whilst we would typically expect to see an increased volume of start-up businesses during a recession as those made redundant branch out on their own, we were encouraged to see such a high volume of expanding businesses using the service.

"Following on from positive figures last year, it is clear that Worcestershire is continuing to perform above expectations, despite the ongoing economic uncertainty, which is great news for both local companies and the wider local economy."

For more information about Worcestershire Property Search call 0845 641 1445. 

 

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Article published by Midlands Business News on 16 May, 2011

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  • Promising signs for Worcestershire’s commercial property market - click to read
  • New Property Search website makes it even easier for businesses to find premises - click to read
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