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Proof of the buoyant industrial

market along the south coast is

provided by Glenmore going for

further expansion at its business

park in Chichester after all 37

units were let or sold.

The units at Glenmore Business

Park, Portfield Works were built

speculatively and have all gone in

six months.

Planning permission is now in

place for a second phase, adding

40 small units although there will be

three detached larger units of

1,010 sq.metres (10,870

sq.ft

.),

1,467 sq.metres (15,794

sq.ft

.) and

2,093 sq.metres (22,534

sq.ft

.).

Letting agents are LSH, JLL, Henry

Adams and Michael Jones & Co.

Guy Jackson of LSH said: “The

speed with which these units have

been leased or sold, along with the

prices they are fetching, demonstrated

that the confidence is well placed”.

Also in Chichester, Flude has sold

Midland House, Southgate which has

offices and two retail units, for

£2.2 million.

Commercial Property Register

November 2017 - March 2018

www.compropregister.com

8

Surely the symbolism of developing

the UK’s tallest residential tower

of 68 storeys linked to another of

41 graphically illustrates that

Croydon has moved up a gear as

an urban entity.

The scheme at One Lansdowne

Road,which has planning permission,

is by Guildhouse-Rosepride and apart

from 794 homes it will have 34,838

sq.metres (375,000

sq.ft

.) of offices.

However, this is not the only

major tower scheme to come forward

recently in Croydon because Tide

Construction wants a build-to-rent

tower close to East Croydon railway

station. It will have 546 residential

units in a 38 and 44 storey tower.

It will be the tallest modular

tower in the world with Tide using

off site manufacturing systems. On

top of this MiFlats has submitted

plans for a 34 storey residential

tower with 296 so called ‘microflats’

aimed at young professionals. In

Phase 2 of the project (the first

phase saw the conversion of

Canterbury House, a 12 storey

office) half the units will be

affordable. Oddly enough,

research by online estate agent

eMoov has revealed that Croydon

tops the list for London as being

the capital’s wealthiest borough

for property. The analysis is on the

basis of surface area.

Elsewhere in Croydon, Linton Group,

in a joint venture with Henika Group,

has bought two properties at 9-11

Wellesley Road totalling 5,574 sq.metres

(60,000

sq.ft

.) in the heart of the

town’s regeneration area.

Gary Linton commented: “This is

an opportunity to get involved in

Croydon’s far reaching regeneration

programme. We fully believe in the

potential of the borough as one of

London’s leading commercial and

residential hot spots”.

Also in Surrey, Schroders Regional

Office Fund has paid £11.5 million

for the 3,252 sq.metres (35,000

sq.ft

.)

London Court in Reigate and it is

fully let.

NEWS

HIGHER AND

HIGHER

in Croydon

Branson

For those wallowing in the gloom

of a Brexit led slowing of the UK

economy, a trip through the three

south east counties could prove to

be a rewarding experience.

That is because many local

authorities and businesses are not

accepting the bleak future and are

building new commercial and

residential facilities, notably in Ashford.

What is the key to the changes?

One of them is transport with a number of improvements, such as

changing the Ashford ring road to a more user friendly route but also

wider spread improvements to the motorways and main roads.

What is another factor? It appears to be a dynamic and helpful local

authority aiming for economic growth and better facilities for the

population. Here again, it is true of Ashford.

Outside this east Kent town, other places are pushing for change,

particularly the business parks such as Discovery which has embarked on

a new phase of development and Newhaven. However, there are

problems as highlighted by Glenny’s Richard Seton-Clements with the loss

of commercial space to residential use.

It is obvious the government could not care less about this as long as

they are able to get headlines in the newspapers about more houses

being built. It is par for the course when it comes to government’s

attempting to understand commercial property.

cgi of One Lansdowne Road

Sold

OUT

OPENED IN

Guildford

The fact that some of the

leading property advisory

businesses are expanding their

network in the three counties

indicates the quality of the

business being transacted.

In Guildford, Hurst Warne has

opened a new office because of

increasing activity in the town.

Hurst Warne’s Mark Leah said:

“We have concluded over

23,225 sq.metres (250,000

sq.ft

.)

of property transactions in Guildford

in the last two years”.

“Coupled with the town’s

excellent economic prospects,

we felt the time was right to create

a permanent base”.

Guildford has recently seen the

emergence and clustering of high

tech innovative industries such as

gaming, satellite technology,

healthcare and bioscience.

The need for regional expansion

also motivated SHW to open an

office in Bromley.

From the depths of despair when

Pfizer decided to cut its vast

business park at Sandwich the

mood has moved to total

optimism as the new owners

have revitalised it as Discovery

Park, an appropriate name.

The investment goes on with the

latest proposal for 4,645 sq.metres

(50,000

sq.ft.

) of laboratory space

and the expansion of offices with

5,574 sq.metres (60,000

sq.ft

.) of

refurbished space.

Additionally, the site’s catering

and conference facilities will be

revamped to cope with the fact

that 150 companies are located

there with 3,000 employees.

Toby Hunter, Chief Executive

of the park, said: “Our desire is

to ensure that the worldwide

reputation Sandwich has enjoyed

for decades continues into the future.

We have plans to invest in our

science offer and enhance facilities

across the park”.

MAKING

Discovery

Park

WORK

Phase 1 Glenmore