Page 6 - Demo

Estates, planning permission was granted for the 12 acre (4.86 ha) site, which was part-funded by U+I. The scheme would also deliver mixed-use space, including an hotel and apartments.
The growth of such creative jobs will be aided by a commitment, announced in January 2019, by the Department for Culture, Media and Sport, to develop the Thames Estuary Production Corridor as the world’s largest creative corridor. This includes an award of £4.3m funding into a £6.7m programme
to the University of Kent and the establishment of
RENT TOWN (PER M2) Q3 2019
SEVENOAKS £322.92
1 YEAR GROWTH
0%
11%
0%
0%
0%
0% 0% 23% 7% 20% 0% 0% 0%
3 YEAR 5 YEAR GROWTH GROWTH
7% 43%
8% 58%
2% 2%
17% 50%
11% 33%
29% 50% 0% 20% 60% 60% 39% 39% 85% 85% 6% 6% 8% 8% 0% 0%
TUNBRIDGE WELLS
£279.86 MAIDSTONE £226.04 DARTFORD £226.00 ASHFORD £215.28
Eureka Park
Estuary Works, to provide workspaces for creative and digital businesses in the county.
Ashford’s mature out of town market remains robust. Eureka Park, developed by Quadrant Estates at Junction 9 on the M20, comprising 27,871m2 (300,000ft2) over its 94 acres (38 ha), is fully let. Helix Property are developing 2,635m2 (28,363 ft2) of co-working and start-up office space for BizSpace. The scheme is currently on site with completion expected by the end of 2020. Eureka Park has a strong representation of tech and medical sciences sector businesses and BizSpace scheme will complement this mix.
CANTERBURY TONBRIDGE SITTINGBOURNE MEDWAY GRAVESEND FOLKESTONE DOVER
THANET
KENT PRIME AVERAGE
£193.75 £193.75 £172.22 £172.22 £129.16 £91.49 £75.35 £64.58
£213.12
4% 16% 35%
As with other property sectors, office investment transactions were relatively limited in 2019, although Ashford saw one of the more significant transactions in Kent. Connect 38 was sold by Quinn Estates and George Wilson Holdings to Folkestone & Hythe District Council in March for £17m. Meanwhile, Eureka Park saw the sale of Building 1500 for £9.31m (NIY 8.00%) to a private overseas investor in February. While investment activity slowed sharply during lockdown, investor demand for locations and sectors with a long term growth story remains strong, which would be expected to translate to transactions later in the year as restrictions ease.
Source: Caxtons 2019
6 2019/20 ASHFORD PROPERTY MARKET REPORT