A leading Midlands legal figure has highlighted the need to identify new development opportunities to ensure growing optimism in the region’s commercial property sector isn’t stilted by a shortage of high-quality stock.
Philip Costigan, senior partner at Band Hatton Button in Warwick Road, used the company’s annual commercial property event to highlight the need for continued growth in Coventry and Warwickshire.
More than 150 people including professionals, service providers and clients attended Band Hatton Button’s annual Commercial Property Buffet at Coventry Transport Museum.
Representative from the legal, property, financial and public sectors gathered to discuss the past 12 months and what the future holds for the commercial property market in Coventry and Warwickshire.
Philip said: “Once again our commercial buffet was a great success with business professionals from across the region using it as a platform to discuss successes and also the challenges facing the commercial property sector.
“We have witnessed growing optimism and increasing demand within Coventry and Warwickshire’s commercial property sector over the last 12 months which is having a positive influence on the region’s economic growth as a whole.
“It is however important that we continue to identify development opportunities as this recent influx in activity is leading to shortages in high-quality stock.
“It is vital that we encourage investment so that growth is not stilted and companies are able to relocate and expand in the area.
“It is therefore positive to see a steady increase in speculative development in the area as developers look to tap into the remaining space available in order to attract future inward investment to the area.”