Business Review of the Year 2018

From GDPR to Brexit, 2018 has certainly produced its fair share of challenges in the business world. But happily, it’s also been a time of successes in the South West. We spoke to businesses across a range of sectors to find out how 2018 went for them… and what they are (and aren’t) looking forward to in 2019.

Today we interview Philip Marshall, partner, at Bath-based commercial property agent Carter Jonas.

How was 2018? 

We’ve seen increasing demand for office space from tech and media companies over the last 12 months and it is extremely exciting to see the organic growth of this sector in the region. Another positive is the number of US companies that are choosing to have an office here. Whilst the retail market is having to evolve, predominantly due to the rise in popularity of online shopping, it is encouraging to see that demand for retail space has remained strong and more independent retailers entering the market.

Other than the B-word and resulting uncertainty, commercial occupiers are struggling to find appropriate space – Bath in particular is suffering from a chronic supply shortage. 

Good infrastructure and access to talent pools are key considerations for many occupiers and I fear the region is still somewhat behind other UK business and industrial hubs in its efforts to attract investment into these areas. 

Looking ahead to 2019….

We’re quietly optimistic. Bath Quays, which is undeniably one of the most exciting South West development opportunities to come to the market in recent years, is set to progress and once developed, will go some way towards meeting the demand for space. Elsewhere, the Bath and Somer Valley designated Enterprise Zone status is really a once in a generation opportunity for these areas. 

Read the Business Exchange Bath & Somerset online tomorrow (December 23, 2018) to see how business was this year for the Bath branch of Jelf insurance.