Sunday, November 10, 2013

Branson on Kent Surrey and Sussex November 2013 Issue 42

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It has been a tough period for the three counties in the recent recession with the office market being hardest hit.

Industrial property has fared better but the new mood is for one of more flexibility so that in Croydon old offices get converted to residential and the business parks also change the mix to bring in residents.

The argument for the business parks, mainly Discovery Park and Kings Hill, is that this creates a more balanced operation that helps bring in other facilities, notably shops.

There is nothing new about this because in many areas of the UK the industrial revolution brought a mixture of industry, residential and retailing. Just look at any city in the north of England.

At the same time Discovery Park and Kent Science Park have been pulling in a steady stream of high technology companies that has brought diversity and new ideas to each park.

Indeed, at Discovery Park there are now over 50 occupiers employing more than 1,400 people.

As far as new development is concerned, the picture is mixed with a general reluctance to build but with some loosening of the developer purse strings in Brighton. In Kent, there have been a number of government funding initiatives that should help speed development.

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