20 August 2018
New research into South East property trends
SHW has produced new research into the office, industrial and development sectors across the South East.
Significant trends identified by the research include:
Offices
- 'Hot' locations such as Brighton and Croydon continue to see higher rents and availability falling. Vacant office space in Croydon, for example, stood at 1,800,000 sq ft in 2013 - today, it stands at a mere 206,000 sq ft, just 3.7% of built stock
- The relatively few speculative builds are faring well, with many pre-let before completion, such as Brighton's seven-storey Brinell Building, 65,000 sq ft of A Grade new-build offices next to the main railway station
- Healthy stock levels can be found in locations such as Crawley (17%), but these figures are seen as temporary as several large occupiers have released space in the town due to relocation to new-build options leaving a few large vacancies
Industrial / logistics
- Prime locations continue to suffer from low stock levels, with Crawley / Gatwick currently encountering a mere 2.7% available
- Most interest is from the Warehouse & Logistics sector
Development
- Strong demand for commercial land in prime locations with Croydon and Crawley seeing high prices paid on the back of good demand for stock
- Good demand in selected locations for residential land, especially land suitable for houses
Head of Business Space Tim Hardwicke said: "The overall picture is generally healthy in the main with good demand across all sectors."
To receive SHW's Focus reports email Head of Business Space Tim Hardwicke thardwicke@shw.co.uk. Please specify whether you would like office, industrial, development or a combination of the three.
