Regeneration in the South East
After speaking with agents based in the South East, it is evident that the region is suffering from a lack of supply of commercial property, particularly industrial and Grade A offices. So, we’ve been looking into how councils and developers in the region are tackling this issue.
Planning permission has been granted for the development of four new warehouse units totalling 45,500 sq. ft. within the council-backed mixed-use business park The Bridge. This is a joint venture between Prologis and Dartford Borough Council comprising 1.8m sq. ft. of commercial space with hotels and restaurants, new homes, community facilities and over 80 acres of public open space.
Stevenage Borough Council are planning the biggest town centre regeneration project in the east of England with SG1m, a £350m scheme comprising more than 1,000 homes, a park, shops, bars and restaurants. Also in the plans is a 100,000 square foot public sector hub including a new library, NHS services, a registry office and council offices. The scheme is expected to be delivered in 4 phases.
Watford Borough Council has granted planning consent for the first phase of a £1.6bn regeneration plan for Watford Junction. Included in the plan are 3,000 dwellings, 807,000 square foot of commercial space, 64,500 square foot of retail, two primary schools and community facilities.
The first phase of Ashford Commercial Quarter, Connect 38, was completed earlier this year, which will eventually accommodate 560,000 sq. ft. of office space. Connect 38 is a 80,000 sq. ft. Grade A office building sitting opposite Ashford International Station.