The South East


Flude Property Consultants Share their Overview of the Commercial Property Market


An overview of the Retail & Leisure market, Flude Director, Sebastian Martin, commented, “We found considerable market activity in 2023 and 2024 even with the current economic and political factors. Leasing has actively followed consumer spending patterns with occupiers increasing their space needs in response to


rising demand, from F&B, health & fitness, experience,


convenience, services and discount. Although landlords are still having to be a lot more flexible on the lease terms and rents they are seeking, occupiers still recognise that having a bricks and mortar presence is vital to driving online sales. Flude have been successful in generating interest and letting the majority of the units we have been involved in. Evidence to support this is that Flude transacted 100 deals equating to almost 240,000 sq ft in 2023 ranking them the No.1 retail agent in the South East for 2023 on EG Property Link.”


Following this, an overview of the Industrial/Warehouse market, Senior Surveyor, Brandon White, commented, “This sector has seen strong demand over recent years which has led to strong rental growth. Across our region where space is at a premium, this has been felt more so than ever. During 2023 and early 2024, nationally the sector cooled, but a continued lack of new development across the region has kept the south coast market tight. Rents stabilised during the later part of 2023 and early 2024. Much of the local demand for bigger units has declined from the peak of mid-2022 albeit it is anticipated that this sector of the market is in recovery. Activity for small and medium sized units remains good. There is also a notable increase in the number of tenants looking for more energy efficient premises. Interest in freehold availability continues to be good with a decent owner occupier market.”


As a result, there was a quieter investment market with the volume of sales reducing. In terms of sectors, the industrial market is still setting the benchmark for activity for traditional investors. Political stability following the election is predicted to attract overseas investments and with the recent interest rate cut to 5% we anticipate that investors will look to adjust their strategies, recognising that the era of high interest rates is likely ending, prompting a renewed interest in property investments despite the current lack of stock and high build costs. There is room for market optimism.”


For further information, please contact us: 023 9262 9000


portsmouthproperties@flude.com https://www.flude.com/


To conclude, an overview of the Investment & Development market, Director, Mark Minchell, commented, “The investment market cooled in 2023 and early 2024. Global issues and high interest rates had a profound effect on the investment market, with yields in general moving out reflecting the cost of borrowing.


Kingsbridge Makes Appointments in Project Delivery and Support Teams as Growth Continues in Milestone 20th Year


Commercial property specialist Kingsbridge has expanded its award-winning team as the business continues to grow as a leading developer of exceptional spaces for work, life and leisure across the South.


The company, which is marking 20 years of delivering high-quality industrial, warehouse,


office and mixed-use developments, has appointed Richard Clifton as Project Director.


Richard is an experienced chartered construction manager who brings more than 25 years’ experience in a diverse range of projects in the construction and civil engineering industry. He has a strong Tier 1 contractor and client-side background, having managed the successful delivery of commercial schemes both in the UK and internationally.


In his role he will support Kingsbridge’s Development Director, Jeremy Sharland, and the wider team in the successful delivery of projects, leading the delivery phase and assisting during the development lifecycle.


Richard said: “I am excited to join the dynamic team at Kingsbridge, and to become part of an established and growing business that sets the benchmark for quality commercial development.


“I was especially attracted to Kingsbridge’s commitment to


responsible development, and I look forward to leading on the delivery of sustainable schemes that meet occupier demand, create


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employment and contribute to the prosperity of communities across the South.”


Kingsbridge has also invested in its support team with the


appointment of Katie Vincent as Office Manager. Katie, who has over eight years’ experience in the property and construction industry, will ensure smooth running and maintenance of the office, provide administrative support to the team and oversee marketing and events planning. Chris Fry, Kingsbridge CEO, said: “I am pleased to make these appointments which support our commitment to delivering outstanding, best in class schemes across the South.


“Richard brings considerable experience in delivering high quality commercial projects and in building strong relationships with partners, clients and suppliers, while Katie will provide invaluable support to our team as Kingsbridge continues to grow in this milestone year and beyond.”


The appointments come as Kingsbridge, based at Tangmere, Chichester, marks two decades of meeting demand for high quality, sustainable commercial space. Recent projects include a new office scheme at Bottle Works, Guildford; and Ferne Park, a best-in- class warehouse and logistics development under construction at Segensworth, near Southampton.


In 2023 a highly sustainable last mile logistics scheme delivered by Kingsbridge in Havant won awards, including the title of Best Investment Transaction at the national Industrial Agents Society Awards.


COMMERCIAL PROPERTY MONTHLY 2024


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