Friday, November 7, 2014

Branson on Kent Surrey and Sussex - November 2014

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There is no doubt the market has become happier as demand for industrial and office space picked up.

However, that brings a problem, the shortage of stock. A familiar subject now throughout the UK but the truth is that very little new space has been built in the three counties in the past six years.

On top of this, politicians, whose understanding of commercial property is minimal or non existent, have given the industry two further barriers to growth.

There was the last government’s charging of rates on empty property and the current lot’s push for conversion of offices to residential.

Along comes economic growth and small companies looking for cheap space to grow. Sadly it has gone for other uses or been demolished.

Take Maidstone, a smallish town. It has lost, or is losing, a lot of office space.

Meanwhile, the market moves. Brighton opens up with new schemes, one of which is a much needed Grade A office by the station.

Crawley is doing well and may take off if the airport is allowed to expand.

Croydon, where office conversion is intense, has the real prospect of being London’s third office centre.

All these changes are being helped by the investment in transport which is bringing more and faster trains between London and Brighton together with the upgraded Gatwick Express as well as better roads that will probably include the vital A27/M27.

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