Press release

Wycombe solicitor checks the “pulse” of the local commercial property market

17 February 2010

Graham King, partner in Wycombe solicitors, Reynolds Parry Jones, reports that optimism about the local commercial property market, as measured by a regular straw poll he conducts amongst local business people, is on an upward trend.

Graham runs a “Commercial Property Club” to which are invited business people who work within the commercial property sector – including surveyors, commercial agents, developers, landowners, architects, accountants, bankers and financiers. The Club meets quarterly throughout the year, and at each meeting, is given an overview by him on legal developments, new cases and new legislation in the property world. Members consider these developments and also discuss local news and developments as they effect commercial property.

During the last two years he has taken a “straw poll” at each meeting where he asks delegates to indicate on a scale of 1 – 10 how optimistic/pessimistic they are feeling about the future for the local property market (where 1 represents a worst case scenario and 10 the best case).

“Last year” he reports “ the average score amongst delegates was a rather pessimistic 3.. Then, at our October meeting, this rose slightly to 3.5, a small move in the right direction. However, our “index” at a very well attended January meeting jumped to an almost respectable level of 5 with some optimists indicating 6 or 7!. It’s definitely a move in the desired direction and, insofar as commercial property is a barometer for the economy, gives me encouragement that we may be climbing out of the depths of the recession.”

We have asked Graham to keep us advised as to the future direction and level of his Property Index!

Further information: Graham King, Reynolds Parry Jones, Tel: 01494 525941