Saturday, November 7, 2015

Branson on Kent Surrey and Sussex November 2015 issue 48

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Concentrating on attracting science and technology based companies is paying off for Kent as the success of Discovery Park and Kent Science Park show.

Both were former research facilities for large companies and have successfully reinvented themselves by attracting a wide range of businesses. Discovery Park is a classic example of the importance of the entrepreneurial spirit in property development with experienced people turning around what at one stage appeared to be a disaster for the county.

Few people would have bet money on its success (apart from Locate in Kent who fought for occupiers) when Pfizer closed a substantial part of the complex. Certainly the nerves of county and national politicians were clanging. But now it is vibrant and pulling in occupiers.

Of course this has been helped by the economy renewing growth and the business climate moving from red to green. That has also meant the long mooted £250 million scheme at Brighton Marina can get under way.

It is also helping Croydon move towards its potential as an office satellite of central London, though this appears to be a more difficult process than envisaged. Nevertheless, major new schemes are happening in Croydon for both retailing and offices to add to its excellent transport links.

Elsewhere in the three counties, the message seems to be that the conversion of offices is taking too much stock out of the market and endangering the economic wellbeing of some towns. Yet the climate for leasing space by expanding companies has improved substantially.

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