Many of the key components of a long lasting and substantial improvement in the commercial property market in the region are in place. Yet there is one uncertainty that might prove to be a stumbling block.
That is, of course, the foolish decision of the government to ease restrictions on conversion of commercial space to residential.
It was bound to be more acute in the South West because of the natural attractions of the region for new residents, whether to work or retire.
The problem is that it has come at a time when there has been insufficient new development and just as the economy is picking up speed with the consequential demand from small companies for space.
Increasingly they can’t find the right office or industrial space.
As we can see in Bristol, there are plenty of major requirements and the out of town market is also healthy.
Bath is also much improved with a strong media sector and now plans for speculative development. Even so it should not be forgotten that new enterprises need small and cheap space to get going.
Meanwhile, the region can look forward to a boost from the building of Hinckley Point nuclear power station and the inflow of investment and the upgrading of the rail line to from London to South Wales.