Commercial Negotiator James Squire who works in Caxtons' Maidstone offices said "Commercial sector property, whether for sale or to rent, has been more buoyant in recent months than for some time. There is no particular pattern to the type, size or location of property, it seems there is just more impetus from buyers, sellers and tenants – whether starting out on the property ladder or expanding."
Two particular properties that have changed hands in the first quarter of this year demonstrate that it is not just in the big towns that things are moving.
A new 20-year full repairing and insuring lease was agreed in February on an end of terrace two-storey brick-built property in Meopham. The premises comprise a ground floor commercial unit and first floor offices with car parking at the rear of the property.
James continued: "At first glance these may not seem earth shattering deals, but it does demonstrate that there is positive activity across the entire property market in Kent."
New Meopham male grooming establishment
Mark Coxon, Head of Commercial Property Services at Caxtons, is delighted to confirm that he has completed on the let of two new distribution units at Access Park Aylesford.
Mark said "Securing these deals in this dynamic commercial area is very gratifying. Both new tenants are keen to commence their tenancies as soon as possible and we are sure that each will contribute to and bring benefit to the area."
In Kent, the number of economically active people aged 16 to 64 has grown steadily in recent years. The employment rate for males (78.2%) is above the national average of 77.0% and the employment rate for females (67.1%) is slightly above the national average of 66.4%.
Units, 2A and 2C completed within a week of one another and each is an end property in a terrace of 3. They are strategically located 1.5 miles from Junction 4 of the M20, with links to the Kent ports and national motorway network, so ideally positioned for all onward routes.
New tenant and distributor of car parts and accessories, Euro Car Parts Ltd, operates from more than 200 locations across the UK and Ireland, and has now acquired the 27,191 sq ft unit, 2A, on new full repairing and insuring lease for a period of 15 years.
The larger unit, 2C, is 34,853 sq ft, and has been let to incoming tenant Priory Business Group plc, a print management company dealing with print from initial design to production, storage, fulfilment and distribution. It has been secured on a new full repairing and insuring lease for 10 years.
All of the units have 9m ceiling height, up to 40m yard depth, fully fitted offices with comfort cooling and heating systems, raised floors, lighting, carpets and a kitchenette, secure fenced yards and car parks.
The landlord is Merseyside Pension Fund.
Caxtons Chartered Surveyors has completed on a deal to let 6 Conqueror Court, Sittingbourne – 1,692 ft2 of modern office space – on a new full repairing and insuring lease until January 2026.
6 Conqueror Court is a ground floor self-contained office with 7 parking places and is located off the busy A249, just 2 miles from the London to Dover M2 motorway and onward access to Europe via the Channel Tunnel and ferry ports.
The unit is on the ground floor of the two-storey end of terrace purpose built property. It has raised and carpeted floors fitted with cabling and floor points; comfort heating/cooling; DDA access; a mix of individual and open plan office space; cloakrooms and a well-fitted kitchen; parking for 7 cars and upkeep and maintenance of external and common areas is covered by a service charge.
After an initial 3-month rent-free period the rent annual rent is £27,072 and there is a break option and rent review in the lease for January 2021. The new tenant, Terradace Holdings Ltd, already occupy Unit 4 at Conqueror Court. They have taken unit 6 in addition to their existing property.
Mark Coxon, Director and head of Commercial Agency at Caxtons said: “Caxtons was appointed joint agent by the landlord, Conqueror Property Partners Ltd so we were doubly delighted to be able to finalise the let to Terradace Holdings on this well appointed and easily accessible office unit.”