Welsh business leaders set the scene for 2018

Welsh business leaders have set out their hopes and predictions for 2018, with the scrapping of tolls on the Severn Bridges and the new Development Bank of Wales cited among the key factors that could drive growth.

From 8 January when the bridges return to public ownership, tolls will be reduced, with a view to abolishing them completely by the end of the year.

Dan Smith, director of Newport based M4 Property Consultants, said the move should provide a boost to the South Wales commercial property market.

“The M4 corridor of South-East Wales will remain the prime location for the industrial market due to its strong transport links,” he said. “Recent uptake of industrial units by Amazon and ALUK in the area are testament to that, with the availability of units over 100,000 sq ft dropping by 32 per cent in the last year, according to the ‘South Wales Report 2017’ by JLL, showing strong demand in the industrial sector of South-East Wales.

“This is expected to increase further moving forward, with the scrapping of the Severn Bridge tolls likely to make industrial space on the welsh side of the border more attractive to occupiers; especially businesses located in Bristol and South-West England.”

Article courtesy of Insider Media