Ashford at heart of recovery
The vital role of Ashford in future economic growth of Kent and
Medway is highlighted in the 20th Kent Property Market Report,
launched last month.
Launched at the 26,000ft2 Northdown 2 at Eureka Business Park,
Ashford, the county’s most recently spec-built office complex, the
Kent Property Market Report, written by Kent County Council and
property consultants Cluttons, is produced by investment promotion
agency Locate in Kent, supported by law firm Thomson, Snell and
Passmore.
It reviews property performance and major deals in Kent from summer
2010 to summer 2011 and provides insight on Kent’s commercial,
retail, tourism, rural and residential property markets, and its
regeneration programmes.
The report states that Kent is fortunate that progress in its
regeneration and growth areas, including Ashford, is well advanced,
opening up some of the most significant investment opportunities in
the south east, while the number of companies looking to locate in
the county remains healthy, with 213 new projects logged by Locate
in Kent this year.
Northdown 2 is a rare example of speculative development given the
current climate. With the completion of the infrastructure
improvement works at Junction 9 of the M20 and the landmark
pedestrian access bridge, Quadrant Estates is seeing consistent
demand, with the sale of the 127.73m2 (1,375ft2) 170 Eureka Park in
May achieving £200 psf.
Retail demand has also proved buoyant in the town and John Lewis
has confirmed plans to develop another John Lewis At Home store in
Ashford. The unit will total 3,716m2 (40,000ft2) and is due to open
in autumn 2012, bringing the number of John Lewis shops in Kent to
three, with Tunbridge Wells and Bluewater.
A new Dobbies Garden Centre opened at Eureka Leisure Park creating
120 jobs and work is underway on the expansion of Sainsbury’s at
the Warren Retail Park. Regeneration projects include the new
£7.56m Ashford Gateway Plus, opened in July 2011, which is home to
a range of public services, the Ashford Tourist Information Service
and a cafe.
A £1.7m investment in St Mary’s Church has transformed it into a
modern, comfortable and flexible central venue – Arts at St Mary’s
while Stour Valley Arts, funded by the Arts Council England,
has a new permanent gallery in Elwick Road.
Future development proposals announced in 2011 include K College’s
plans to open a town centre campus. The £20m scheme will improve a
prominent area of the town and strengthen the local skills base - a
key economic driver for continued growth.
The report states the focus over the next few years will be the
delivery of a new commercial quarter in central Ashford, with an
outline application for a 5,574m2 (60,000ft2) office building set
to capitalise on the 37 minute journey time to London on High Speed
One.
Paul Carter, Leader of Kent County Council, said: “These are tough
times and we need to do all we can to get the Kent economy moving
faster. We have the housing and development sites, but housing
completions have fallen in Kent and across the country.
"We need to overcome the obstacles that are stopping housing being
built and do all we can to generate new business growth and new
local jobs. The Kent Property Market story over the last 20 years
is a good one. In tough economic times, we must ensure Kent remains
the place to do business.”
Paul Wookey, Chief Executive of Locate in Kent, commented: “The
report highlights the fact that overall the county is a solid
proposition for companies looking to relocate or set up business.
It is amazing to look back over 20 years of infrastructure and
commercial property developments and see just how much better a
business proposition Kent now offers.
“Ashford has benefited hugely from many of those developments,
including the High Speed Rail Link to London, improvements to the
M20 and access to it, the development of Eureka Park and
improvements to Victoria Way which will open up the south of the
town centre. As a result the town can be seen as a real barometer
for the commercial health of the county as a whole.”
The report is available to view online via www.kentpropertymarket.com
Media release ENDS
14/11/2011