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Innovation Park Medway features in Kent Property Market Report

Innovation Park Medway has featured within the Kent Property Market Report launched earlier this month.

Now in its 30th edition, the Kent Property Market Report provides invaluable insight and analysis of the performance of the Kent & Medway property by sector and the key projects supporting the county’s growth and economic development.

It is produced by the Economic Development Division of Kent County Council in partnership with Caxtons Chartered Surveyors and Locate in Kent.

Kent Property Market Report Launch Event

The report was launched at an interactive online event which included topical chat rooms and presentations about this year’s report from a host of leading property experts from in and around the county.

The online launch was followed up by an in-person event in London where interested parties including developers, commercial agents and land agents in the capital met to discuss the report findings, and the market in general across the South-East.

News from the event was positive and while the pandemic continues to overshadow life and the economy, the last year has demonstrated property can be part of the solution for Kent’s future, including how the county has attracted new businesses and investment in many of the UK’s fastest growing sectors.

Market Outlook for Business Parks

As part of the report Caxton’s provided a market outlook on business parks in Kent & Medway;

“A year on from our last report there is more concrete evidence on how businesses will take the experiences of the pandemic through to future business practices and working arrangements. It is now clear that home-working to varying extents will become commonplace. Both businesses and workers will make decisions on how much of the office and commute they need or want. But survey evidence is pointing increasingly to the need for some form of communal working, to aid collaboration, creativity, training and underpin the culture of organisations. Evidence from across the region suggests hybrid home – office working arrangements appear most likely to dominate. Letting activity has returned following the highly disrupted 2020, with many of the county’s science and business parks operating with few or no vacancies. As a result rents have remained stable supported by continued steady demand.”

The full report with commentary from Caxtons, Locate in Kent, Kent County Council and property experts can be downloaded from the Kent Property Market Report website.