Page 2 - Caxtons KPMR 2021

Contents
Cover:
As part of the approximately £250m Dover Western Docks Revival (DWDR) the Marina and Office regulates access to the new 250 berth marina, controls the new bascule bridge to the listed Wellington Dock in addition to monitoring the access roads in that part of the port.
CREDIT: Gordon Young, HMY Architects
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Welcome
An introduction to the 30th edition of the Kent Property Market Report, produced by Kent County Council’s Economic Development Division, Caxtons and Locate in Kent.
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Crossways Commercial Park, Dartford.
CREDIT: Goodman
Caxtons’ Property Market Analysis
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Caxtons’ Property Market Outlook
While the pandemic continues to overshadow life and the economy, the last year has demonstrated property can be part of the solution for Kent’s future. The county has attracted new businesses and investment in many of the UK’s fastest growing sectors.
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Office Performance
The uncertainty in the city centre office market seen across the UK has taken its toll on activity in Kent over the last 12 months with low levels of lettings. Longer term there are opportunities for the county’s town centre markets brought about by more flexible working practices.
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Retail Performance
In common with the rest of the UK, the
Kent retail and leisure sectors have continued to experience a challenging period. The adjustment in rents will facilitate lettings over the medium term, but there will be a need for a longer term vision in order to deliver a sustainable and vibrant future.
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Science and Business Park Performance
The county’s science parks have seen a particularly active year. The specialist nature of lab and high-tech operations sustained park occupation levels throughout the lockdown period, while Kent’s accessible and relatively affordable business park space has supported demand.
Industrial and Distribution Performance
Following 2020’s record level of industrial and logistics take up across the South East, 2021 has delivered another strong year of activity with lettings including significant new space by Ikea and Amazon. Rents have reached new highs further boosting investor demand in the county.
Rural Performance
Following a slow start to the farmland market, average values across the South East remain at the upper end of those across all regions of the UK. The full implications of changes to the funding regime following Brexit will take time, but supply shortages will support values.
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Residential Performance
Kent has maintained its appeal, driving price growth ahead of the South East average. The pace of activity has brought forward some construction activity and phased schemes, and as a result, housebuilders are seeking
to replenish landbanks across the county.
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Proposal for Manor Farm Estate, Wateringbury, near Maidstone. CREDIT: Taylor Hare Architects