Lawyer hopeful of upturn in commercial property market

Lawyers in Wrexham have welcomed the Chancellor's changes to business rates announced in this week's Autumn Statement.

Peter Blakemore, a Solicitor with leading North Wales and Shropshire law firm GHP Legal, says the change which will cap business rates at 2% from March 2015 and allow business owners to spread payment of their business rates over twelve months instead of ten months is a positive move.

"In addition to the cap and payment spread, the incentive of a 50% rates reduction for the first eighteen months after moving into premises that have lain empty will hopefully kick-start the commercial property market which has suffered badly, said Mr Blakemore. "So the changes announced yesterday will be beneficial for both landlords and tenants of commercial property."