Shortage of high quality, newly built stock remains an issue across Midlands says new Barometer

David Penn, Richard Hardy and Tom Bromwich at the launch
Bromwich HArdy David Penn, Richard Hardy and Tom Bromwich

A comprehensive new report into the state of the regional commercial property market has been launched by Coventry-based property company Bromwich Hardy.

The first annual Bromwich Hardy Barometer – containing facts and figures about the office and industrial market across Coventry and Warwickshire – was launched at a drinks reception at the Leamington Tennis Court Club with a presentation by Bromwich Hardy partner David Penn.

Bromwich Hardy founding partner Tom Bromwich said the report drew together detailed statistics about the state of the market over the last 12 months but also highlighted key activity in the pipeline for 2020.

And he said it clearly demonstrated the need for more new-build commercial stock to be built right across the region.

“The previous 12 months have been challenging in many parts of the market. The national political backdrop, dominated as it was by Brexit and culminating in last month’s general election, was a constant source of frustration to the business sector and undoubtedly affected investment decisions.

“Closer to home, a shortage of high quality, newly built stock remains an issue across this region – and is likely to do so for some time yet. In four of our local authority areas there is no new office space under construction at all and the picture is only marginally better when it comes to industrial development.”

The report can be downloaded for free