In-depth research by SHW across key South East business space markets demonstrates underlying market sentiment is positive and the following findings:
- Rising / stable rents across region
- Demandoutstripping supply in almost every location for both sectors
- Investors enjoying record yields especially industrial
- SHW involved in significant sales including Broadlands Business Campus, Horsham (115,000 sq ft offices & development land on a whole site of 23 acres) sold to an owner occupier and the former EDF offices,Southdownview Road, Worthing (4.5 acres) sold for Permitted Development.
- Unprecedented lack of supply in South West M25 market
- Speculative industrial builds such asTungsten Park, Handcross (84,000 sq ft) Swallow Business Park, Hailsham (80,000 sq ft) and Eastside Business Park, Newhaven (60,500 sq ft) will provide an extra quarter of a million square feet in a market starved of new supply.
- New-build capacity available for 2018 includes Brinell House, Brighton (63,000 sq ft) and the proposed Liberty Trust development near Horsham (50,000 sq ft) are rare examples of speculative offices currently under development
- Very little Grade A offices available in Brighton, rents now circa £30 psf
- Croydon A Grade office rents now circa £32 psf.
SHW Head of Business Space Tim Hardwicke said: “In a climate beset with Brexit uncertainty, this dataset depicts a populace still in the mood to acquire, relocate and tentatively expand. The most pressing issues in our sector arefocussed around a lack of stock, not a lack of interest.”
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