Supply matters in a smaller market

Harris, David
October 2005
EG: Estates Gazette;10/1/2005, Issue 539, p102
Trade Publication
This article focuses on the shortage of office space in the south-eastern quadrant of the M25 in England. Steve Richmond, partner at Edwin Hill's M25 office, says "Speculative development has been a bit thin on the ground lately, so supply is definitely becoming an issue." Development may be limited, but it is not non-existent. At Kent's Kings Hill business park, run by Liberty Property Trust, another building is going up. Scheduled for completion in spring 2006, 42 Kings Hill Avenue will provide the park with an extra 54,640 square feet of space. The shortage has been exacerbated by developers' understandable caution about building speculative offices. The few successful schemes have been of mostly smaller units. One of these is Turkey Mill business park in Maidstone, a former working paper mill that is now home to 60 small firms. Its latest building, on the brink of completion, is an open plan office, Tolherst Court.


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