Diverse economy is a big help
Launch of 2012 Kent
Property Market at Kings Hill
Kent's diverse economy has helped the commercial property
market, according to an expert.
Speaking at the launch of the 2012 Kent Property Market Report,
Sue Foxley, head of research at property consultants Cluttons, said
the county was not dependant on a single sector and its high value
added businesses would generate economic growth.
She said: “While we’ve got a couple of difficult years ahead in
terms of the general property market, it’s clear that there are
some interesting stories coming through in Kent.”
She cited the larger upturn in knowledge workers than the South
East generally, singling out Sittingbourne, Dover and Canterbury
for outperforming the county average.
But she pointed out that Kent had some of the best and some of
the worst retail property in the country.
The office market had been depressed, with demand for space at
low levels. Rents have fallen by 5.3% since 2011 and the economic
cycle had “taken its toll”.
But Ms Foxley expected an improvement next year.
Andrew Blevins, managing director of Liberty Property Trust,
which hosted a launch breakfast for 200 property specialists in 32
Tower View, a multi-occupancy building at Kings Hill, said the
mixed use development had “punched above its weight,” being
responsible for a third of the property deals in Kent.
“It’s a small part of the local economy but it’s a big
deal-doer,” he said.
The 21st annual Kent Property Market Report is produced by Kent
County Council, Cluttons and inward investment promotion agency
Locate in Kent.
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