David Williams of Emanuel Jones on Wales’ Commercial Property Market

November 28, 2017 by Ryan Scully posted in: Uncategorized

Earlier this year, we spoke to David Williams, commercial agent and specialist in retail market at Emanuel Jones. on the Welsh Commercial Property Market. Here, he discusses Wales’ transport links, exceptional cultural events, and the recurring adventures of Dr. Who.

Overall, what has business been like this year for your company?
Very busy – while some sectors have seen general enquiries reduce we take on a proactive approach and we’ve managed to secure a number of lettings and acquisitions, helping to open a range of new Betfred branches. We have been involved in roadside developments as well as office agency deals and strategic portfolio reviews for clients. While we also won the Insider Media Property Award for Property Deal of the Year; successfully relocating Hugh James Solicitors offices to a Grade A office space development in Cardiff city centre.

What do you believe are the benefits of starting up or moving a business to Wales?
There are some fantastic places to live and work in Wales. Cardiff is a vibrant city with excellent shopping facilities, and with many events, whether they be sports, music or food orientated that would rival any city; from a Champions league final to the Rally GB, to the worlds largest bands and regular events. While also offering competitive operating costs in terms of rents and accommodation, good transport links and a job pool, whether it be South or North Wales, all have benefits to offer in terms of standard of living and facilities. In terms of business operation, the planned abolishing of the Severn Bridge tolls is beneficial for South Wales, while North Wales will benefit from improved transport links. Wales is extremely competitive on business costs in regard to rents and rates, while there is assistance from government for new business. Currently Wales also boasts large offices for Admiral Insurance, Axa, GoCompare, Peacocks and Hugh James Solicitors in South Wales. Meanwhile, Aston Martin has recently started refurbishment works on their new manufacturing plant based at St Athan.

What do you believe are the most prosperous markets and industries in Wales at the moment?
There is huge scope for the semiconductor industry and technology industries, as well as research and development and manufacturing, where there are plans for the world’s first Technology cluster in Wales, and Aston Martin committing to a manufacturing plant in Wales. Also, for head offices within the financial and service industries to add to the likes of Admiral , AXA and so forth. In addition, the entertainment and media industries have excellent opportunities where a range of programmes and films are already made in Wales, such as Casualty and Dr Who.

Is there an area of industry in the local area that you think would benefit from further investment?
I think there’s a real requirement for a ‘second M4’ and to invest in rail; particularly with the proposed metro for South Wales – that’s something that really needs to be pushed. There is a need for improved transport, akin to the fact that there hasn’t been enough investment in straightforward rail to meet the increase in demand and cost. Rail contractors are partnering with operators for a retender of the franchise. Also, Cardiff Airport needs to attract a greater range of routes and destinations direct. Business rates are still a large problem with it simply being too much for a lot of High Street retailers particularly, and the accessibility as well as free car parking for town and City centres need a lot of further work.

And finally, are there are any recent deals or developments that you or your company have been involved in, if you’d like to share them with our readers?
Away from our Insider Media Property Award, we’ve undertaken many lettings and acquisitions throughout the retail and office market.

http://www.emanuel-jones.co.uk/