A major property report has highlighted that Kent is fast becoming a hot spot for industrial logistics and distribution companies with more than 507,000m2 (5.45 millionft2) of major schemes under construction or consented.
The Covid-19 pandemic is considered to be one of the factors in speeding up the pace of demand, with a further 177,000m2 (1.9 millionft2) of industrial and distribution space being progressed by Panattoni through the county’s planning system, with a decision expected over the next few months.
That was one of the strong messages presented at the virtual launch of the 2020 Kent Property Market Report, which was attended by nearly 350 people.
Produced by Caxtons Chartered Surveyors, Kent County Council and Locate in Kent, the 29th edition of the Kent Property Market Report says the county looks set to benefit from its strategic position, affordability, and burgeoning logistics, life science and creative industry sectors.
Ron Roser, Chairman of Caxtons, which has offices across Kent, said: “Having attracted the attention of both investors and logistics operators for its relative affordability and connectivity over recent years, the pandemic has only added to requirements, driving robust rental growth.
“Little did we know at the start of 2020 how our collective worlds would be turned upside down. The relative uncertainty of last year has been replaced by what is best described as apparent wholesale structural change in how we shop, work and socialise, with the drive to move sales online driving the industrial logistics and distribution sector. Five years or perhaps even a decade of change has been accelerated into a matter of months.”
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