IT may not have had the razzmatazz or edge of your seat tension of the Scottish independence vote but nevertheless Newport has voted a resounding Yes in favour of setting up scheme to boost the city centre.

And Alex Salmond nor for that matter Gordon Brown played no part in the decision

For the past year and a half traders in the city have worked together to create a plan, the so called Business Improvement District, the Newport BID.

A ballot was held and 88 per cent of those who voted - admittedly from a fairly low turnout - said that they wanted the Newport Bid to proceed.

This now means that some £1m will be directed to improvements of the city centre over the next five years.

Newport city centre businesses which are part of the scheme will pay a levy and this money will be used to make improvements and enhancements in the city centre in terms of security and overall experience in the centre.

This comes at an opportune time as the Friars Walk scheme is continuing apace and by the end of next year should be open and trading.

There has been a concern that the traditional centre could miss out when shoppers shift from the current centre to the ‘new’ centre at Friars Walk. Part of what Newport BID aims to deliver is to make the ‘old’ centre as attractive and vibrant as the new one.

And there are examples of this already happening in the centre, for example Charles Street and new enterprises opening in Commercial Street.

With confidence returning and independents looking to put their toe into the water things seem to be looking increasing ‘well’ in the centre. There is a tangible belief that at very long last everything we could be heading in the right direction in Newport but only time will tell if this optimism is well place.

Meanwhile there is little doubt those private investors, for such a long time sniffing around the extremities of the city, are now pouncing and snapping up 'bargain’ properties in the city centre.

The perception is that the city, and indeed the area surrounding us in Gwent, offers very good value in terms of property price and that this situation may not persist for much longer.

Private investors have been capitalising on the perceived lower capital values in Newport and Gwent but have the costs peaked, (or should that be bottomed) in terms of value, and are they now heading upwards?

We have also seen an increase in activity in leasehold transactions on our quality stock and a preference from clients for Newport locations over Cardiff, in a number of instances.

There have been a number of transactions in which we have been involved this year where a company has a specific office requirement for South Wales and has chosen Newport instead of Cardiff because of the excellence of communications and also lower occupancy costs.

I am feeling optimistic for 2015 regarding the growth of commercial activity which is UK wide but more so in Newport with Friars Walk due for completion along with hopefully feeling the continued positive effect of Admiral trading in the city centre and all the people it employs fanning out into the city centre and spending their wages.

We do, though, as Hutchings & Thomas has previously indicated need more quality office stock to satisfy client requirements. We, that is the city of Newport and immediate vicinity, have little if any Grade A quality space available which leaves us out in the cold and a little exposed when attempting to encourage foot loose blue chip occupiers to put down roots here rather than in more expensive but perhaps more ‘oven ready’ locations such as Cardiff and Bristol

Finally, Newport County look as though they will be in the play offs this year after a string of great results at the end of the year let’s hope that this form can continue into 2015-now where have I heard that before? Wasn’t I saying that last year? A catastrophic plunge in form can’t happen again this time, can it?

Up the ‘Port.