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What key trends are we likely to see in Worcestershire’s commercial property industry this year? Here are the GJS Dillon team’s predictions for 2022:

1. The shortage of industrial property will lead to record rents and record capital values not only on new accommodation, but also on second hand space.
2. We will see over 50% of industrial transactions happening off market as demand is so strong, therefore people are best appointing an acquisition surveyor to get to the front of the queue.
3. There will be more activity in tax free vehicles so expect more and more SIPP and SASS Commercial property purchases in the next 12 months and beyond.
4. Quality office space in town centres will be in vogue as employers look to create an environment that is different to the home office in order to attract new talent.
5. Worcestershire will remain a popular location to relocate to owing to its transport connections, more affordable space and talent pool.
6. Land for employment uses will be prioritised by local authorities as the shortage of all commercial property starts to lead to a disbursement of businesses out of the county
7. There will be an abundance of valuation work as banks and lending institutions assess the adjustment in capital values in the wake of Covid. 
8. Given the increased emphasis on sustainability, property managers will be valuable in providing advice on navigating the regulations and keeping assets compliant.
9. With continuing market uncertainty caused by the pandemic, there will be a greater requirement for professional services advice on matters such as negotiation between commercial tenants and landlords.
10. Property owners will need to stay on top of the ongoing changes to EPC regulations (and other regulations) and ensure their properties are compliant.