| the south east NEWRIVER APPOINTS LUNSON MITCHENALL
eading retail and leisure specialist investor NewRiver REIT (NewRiver) has appointed Lunson Mitchenall, the UK’s leading independent retail and leisure agency, to advise on the Broadway Shopping Centre and Retail Park in Bexleyheath. Lunson Mitchenall’s Shopping Centre
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Leasing and Catering teams have been appointed to provide NewRiver with tailored advice for the shopping centre and retail park elements. The teams will look to identify new opportunities to help continue to improve the retail-mix, provide long-term leasing solutions and
deliver both rental and capital growth. NewRiver has appointed Lunson Mitchenall to act jointly with Jackson Criss. Located in the centre of Bexleyheath, the Shopping Centre and Retail Park spans 524,100 sq ft, and represents over 60% of the town’s retail space. Boasting an annual footfall of 9 million people, the scheme provides the principle retail destination for a South East London borough earmarked for significant growth. Current retailers include an impressive array of brands including M&S, H&M, River Island, JD Sports and Boots. As part of the future
improvements for the shopping centre, NewRiver will be introducing a 12,500 sq.ft gym to be operated by The Gym, modernising the car parks to make them more user friendly, refurbishing the physical retail environment and enhancing the customer experience through upgraded customer toilets and childcare. This is in addition to the significant improvements Bexleyheath has seen in recent years.
he manufacturer of some of the UK’s best-known food brands is opening a multi-functional office at Kings Hill. ABF Grocery Group, which acts as a central support for the businesses within Associated British Foods Grocery Division whose range includes Kingsmill, Pataks and Ryvita, has taken space in one of the buildings at Kings Hill designed for a range of functions. “As a divisional hub supporting nine other businesses in the UK and overseas we need dedicated office space that can provide flexible hot-desk seating as well as meeting and administrative facilities,” said David Mills, Associated British Foods’ head of group property. “Kings Hill is very well located for quick access to the motorway and there is a great range of on-site shops, eateries and leisure amenities which will be very convenient for our staff.” Associated British Foods is a diversified international food, ingredients and retail group with sales of £15.4bn, 133,000 employees and operations in 50 countries. As well as food related businesses, Kings Hill has a varied and diverse tenant mix from many sectors including financial services, oil, communications, automotive, professional services and property.
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SOUTH EAST PROPERTY UPDATE Article supplied by Glenny Kent G
lenny reports that there has been a general easing in demand in the South east London & Kent industrial market, with total requirements down 17% to 5.6m sq.ft.
The only sector of the market to see a significant upturn in demand is the 25,001- 50,000 sq.ft size band, where requirements have increased to 1.2m sq.ft, almost double the supply of space in this size range. Availability continued to edge up, rising
to 3m sq.ft, due to a 17% increase in second hand supply. Second hand space accounts for 90% of total stock on the market, whilst
the supply of ready to occupy grade A space has now reduced to 329,400 sq.ft. Three buildings between 45,000 - 90,000 sq.ft dominate grade A supply, accounting for 55% of the total. The largest grade A building on the market is the 86,660 sq.ft unit at First Panattoni’s Belvedere Wharf, whilst two further units of 48,200 sq.ft (21 Kennet Road, Dartford) and 46,500 sq.ft (Criterion, Belvedere) make up the total.
Second hand stock accounts for the majority of larger buildings, with 11 buildings above 50,000 sq.ft currently on
KINGS HILL
the market, although only one building is above 100,000 sq.ft, the 139,260 sq.ft unit at Enterprise Park, Gravesend, The availability rate in the South East
London & Kent market has edged up slightly over the past 12 months and now stands at 2.9%, marginally above the average for the Glenny region, which stands at 2.6%. Take up remained below trend levels for the second successive year in 2017, totalling 2.3m sq.ft. Activity slowed in the final quarter of the year, with 473,000 sq.ft of transactions.
Making our mark in Kent...
Eurogate ASHFORD
1,204 to 6,789 sq.ft.
Refurbished office suites and buildings by
Junction 9, M20. On site security and parking.
TO LET 26
County Gate One MAIDSTONE 23,690 sq.ft.
Grade A three storey town centre offices 88 car spaces.
TO LET Joint Agent GVA
Logan House CANTERBURY
850 - 3,100 sq.ft. New city centre
Grade A offices with 15 car spaces.
TO LET Joint Agent BTF COMMERCIAL AGENCY DEVELOPMENT & INVESTMENT VALUATION LANDLORD & TENANT DISPUTE RESOLUTION COMMERCIAL PROPERTY MONTHLY 2018
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