Industrial and distribution continues to be the best performing sector of the commmercial property market in Kent and Medway, a new reports suggests.
According to the 2018 Kent Property Market Report, produced jointly by Caxtons Chartered Surveyors, Kent County Council and Locate in Kent, prime rents in the county have risen by an average of 4.4% over the past year, twice the long run mean.
The report says that over the past five years, prime rents have increased by an average of 24% and are currently 11% ahead of the their pre-finanical crisis peak.
The key drivers, the report continues, is the weakening of sterling since the EU referendum which has boosted manufacturing, and the growth of online retail.
The county has seen a number of significant lettings recently. Amazon is due to open a 34,000m2 last mile sorting centre in Medway later this year, Aldi’s new 5.67ha distribution centre in Queenborough will open in 2019, and Ocado has plans for a 1.92ha site at Littlebrook.
For more information and to download a copy of the 2018 Kent Property Market Report, visit kentpropertymarket.com
Posted on: November 2nd 2018