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Industrial shortage in south east

27th November 2017

Industrial shortage in south east

The industrial property market in the south east faces a crisis of lack of space as more properties are eaten up for residential use.

That is the stark message from Richard Seton-Clements of Glenny highlighting the fact that “centralised long established industrial areas are being zoned for residential or mixed-use development”.

“While planners will argue that their policies ensure that there is no net loss of employment space and job numbers, the creation of retail/office or leisure space is not dealing with the issue that is getting more apparent”.

He added that this brought high land values tempting owners of old industrial estates to sell up, leaving tenants to try and find new accommodation, Glenny has witnessed a market increase in demand for industrial premises, notably freehold, down the M2/M20 corridor.

However, Seton-Clements sees hope in a new number of new developments such as Manston Business Park and the Tavis House scheme of 18 starter units on Orbital Park, Ashford that will be offered for sale. Tavis House Business Centre will offer industrial and warehouse units from 114 sq. metres (1,228 sq.ft.) up to 247 sq. metres (2,659 sq.ft.). The scheme is due to start on site this month and be ready for occupation in Spring 2018.

The thirst for industrial space is demonstrated by the success of Salmon Harvester’s Axiom trade and industrial scheme also at Orbital Park, Ashford. Two more buildings have been let, leaving only three units available. Salmon Harvester Director, Pat Mahoney, said: “we anticipate the estate letting up completely shortly, rewarding our confidence in internally funding the speculative build”.