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.”
More than 250 people from across the property and business sectors attended this year's launch of the Kent Property Market Report, which was researched and compiled by Caxtons and produced in conjunction with Kent County Council and Locate in Kent.
The breakfast event, held at the Great Danes Hotel near Maidstone on 2nd November, revealed some surprisingly upbeat statistics that bucked the trend of lacklustre results for the property and construction sector in other parts of the country.
Straddling major routes from the continent to the capital and beyond, makes Kent and Medway strategically pivotal in the south east. In addition, the cost of property and land has made Kent and Medway attractive for business and industry alike.
Growth continues in the office, business park and industrial sectors, and activity in the housing market is buoyant with developments such as the new Ebbsfleet Garden City well under way.
Increased exports have provided short-term gains in the industrial and distribution sector due, in part, to the Brexit vote and resulting fall in the pound. Also, the lack of development during the recession years has resulted in an increase in the average prime rent in Kent and Medway of 9.4% during over past twelve months.
Rents on business parks have remained largely stable and there has been expansion in the Life Sciences with the launch of the North Kent Enterprise Zone.
Average vacancy rates across the retail sector are down from 9.9% to 8.9%, which exceeds the national average and prime retail rent is increasing faster than in the previous 10 years.
House prices continued to grow and outpaced London during the year to August 2017. HS1 was providing new opportunities to live outside the capital and commute in,
Inward investment to the county continued apace and in the twelve-month period under scrutiny, Locate in Kent assisted 56 companies to find property occupying in excess of 700,000 ft2, an increase of 200,000 ft2 on the previous year.
Chairman of Caxtons, Ron Roser, said that the firm was delighted to be presenting such a strong picture of the sector in what had been a difficult year post the Brexit vote. "In our fifth year as main sponsor and contributor to the Kent Property Market Report it shows more than ever how investment in infrastructure, regeneration and business space is translating into occupier demand and improved investment prospects.
"This year's report reflects positivity across the property sector in the county and we look forward to a very busy year ahead."
Caxtons is one of the largest independent property practices in the south east. Operating from offices across Kent, Caxtons offers a range of consultancy, management and surveying services in the commercial and residential sectors, managing around 7,000 properties in the region.
For six out of the past seven years, Caxtons has been awarded the prestigious 'EGi Deals Winner Kent'. Based on commercial property lettings and sales achieved in the previous twelve-months, Caxtons has consistently performed well, with results showing year on year increases throughout the period.
Caxtons has researched and compiled information for the Kent Property Market Report, and publishes the information in tandem with Kent County Council and Locate in Kent.