Page 7 - 2018 Kent Property Marke Report

Kent Renewable Energy Ltd’s bio-mass combined heat and power plant, which opened in September 2018, provides heat and power to businesses at Discovery Park and around 50,000 homes.
Crossways saw 72m2 (7,711ft2) in Riverbridge House let to Uncle Buck Finance in May for 5 years for around 215 per m2 (£20 per ft2). Also on the park the ground and first floor of Radius was let in September on a 10 year lease with a five year break and 15 month rent-free to DYEbold Nixdorf. Meanwhile, at Gillingham Business Park 200m2 (2147ft2)
Unit 3 was let to Bactec for five years at a rent of £55,500 per annum with 6 months rent free, while a 1,394m2 (15,011ft2) unit was purchased for owner occupation for £1.725m in July.
The investment market has seen relatively few transactions over the last 12 months. In January, Palmer Capital sold
its remaining shares in sites of 22.5ha (55 acres) around Discovery Park. The land has consent for 500 homes. Given demand in the market across the south east, assets that come forward to sale are likely to attract competitive attention.
Business park rents
2014 2015 2016
400 350 300 250 200 150 100
50 0
2017 2018
Source: Caxtons
Kent average prime business park rent
250 240 230 220 210 200 190 180 170
Source: Caxtons
Kent Property Market Report 2018 05
Eureka Park
Chatham Maritime
Crossways
Kings Hill
Chineham Business Park, Basingstoke
Arlington Business Park, Reading
Stockley Park, Heathrow
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
£ per m2
£ per m2
PILLORY BARN