2019 Property Market

Cover: Caxtons’ Property Market Analysis Chapel Down Winery opened its new state-of-the art brewery and visitor centre, Curious Brewery in Ashford town centre in May 2019. The brewery includes a shop, tasting area, bar and restaurant. Photo: Curious Brewery / Ashley Gendek Photography Limited 04 10 16 Caxtons’ Property Market Outlook Industrial and Distribution Performance Rural Performance While the UK economy has succeeded in The weakness of sterling driven by It is remarkable how resilient the farmland withstanding a significant level of Brexit Brexit uncertainty has assisted exporting market has been this year, report . related uncertainty over recent years, recent manufacturing companies to an extent, intensification is taking its toll on activity. but confidence and business investment 20 remains weak. This has not been reflected Residential Performance 06 in the industrial and logistics sectors which According to analysis for this report by Business Park Performance continue to deliver robust returns. Hometrack, Kent markets have generally Despite the uncertain political and economic outperformed the south east average with backdrop, the business park market in the 12 price growth of 0.18% over the 12 months south east has proved relatively buoyant Retail Performance to end of July. This compares with growth over the last year, contrasting with a more Vacant units are gradually being absorbed of 2.1% for the UK as a whole. subdued previous 12 month period. and independent retailers and restaurants are expanding their presence on the county’s 08 high streets, facilitated by the nationwide rent Office Performance rebase of recent years. Leisure uses are The ongoing expansion of agile working also seeing growth across the county, again and freelancing has brought further serviced mirroring a nationwide trend reported by office space provision to the county. Local Data Company.

02 Welcome An introduction to the 28th edition of the Kent Property Market Report, produced by Kent County Council’s Economic Development Division, Caxtons and Locate in Kent.

04 : The expansion brings 500 jobs and 50 new fashion, food and homeware brands, a new food piazza and a redesigned, 07 interactive children’s play area. The HUB at Kent Science Park, Photo: Ashford Designer Outlet , opened this Spring. Photo: Kent Science Park Kent County Council, Council Locate in Kent Contributory Sponsors’ & Kent’s District Council Commentary Commentary Articles

14 22 52 Leisure and Tourism Performance Inward Investment Clague Architects The most recent Cambridge Economic Impact Model analysis Locate in Kent, the official invest- showed that in 2017 the county welcomed a record 65 million visitors, ment promotion agency for Kent 53 an increase of five million visitors on 2015 which included over one and Medway, review some recent Cripps Pemberton Greenish million international visitors for the first time. market trends and highlight notable investment projects in the county. 54 24 DHA Planning Infrastructure and Regeneration Kent County Council, Medway Council and Kent’s District Councils 55 commentary on infrastructure and regeneration. Handelsbanken 50 56 Green Infrastructure MHA MacIntyre Hudson Exemplar projects from Low Carbon Kent to sustainable urban drainage systems. 57 The O’Keefe Group 58 RICS 14 23 Lion Lodge at Port Lympne Hotel The Copper Rivet distillery is set in a Strategic Developments, & Reserve, near Hythe. magnificent Victorian Pump House on Photo: Port Lympne Hotel & Reserve Chatham Dockyard. Contacts and Photo: Locate in Kent Acknowledgements

60 Strategic Developments Location map and list of develop- ments by use class across Kent and Medway with contact details. 63 Contact details 64 Acknowledgements 35 Proposal for Riverside from riverfront. Photo: Link City

Kent Property Market Report 2019 01 Proposal for Clifton Slipways, . Photo: Quinn Estates

02 Kent Property Market Report 2019 Welcome to the 28th Edition of the Kent Property Kent County Council’s Economic Development Market Report. Division works with public, private and voluntary Welcome sectors to support economic growth by encouraging The report is produced by Kent County Council, and supporting businesses; working closely with Caxtons and Locate in Kent. specific sectors to promote growth and finding ways to fund business critical infrastructure and unlocking The Caxtons Property Market Analysis reviews key development sites. property deals and activity during 2018-19 and covers: • Business parks Locate in Kent provides a comprehensive, • Offices confidential and free business relocation and • Industrial advisory service for all companies looking to • Retail relocate to or expand in Kent and Medway. • Housing The producers of the report thank sponsors and Locate in Kent provide details of the 70 companies contributors to the report: helped last year to set up, move or expand in Kent • Clague Architects and Medway, creating 1,665 jobs over 3 years and • Cripps Pemberton Greenish retaining 1,960 jobs. • DHA Planning • Handelsbanken The Infrastructure and Regeneration section • MHA MacIntyre Hudson features current and planned developments. • The O’Keefe Group It focusses on Kent’s growth areas, continuing • Royal Institution of Chartered Surveyors regeneration of Kent’s coastal towns, rural property, tourism and green infrastructure as well as significant We hope you find the report useful and informative. investment in road and rail infrastructure.

The Strategic Developments pages feature a comprehensive list of sites, useful contact details Mike Whiting and a location map. Cabinet Member for Economic Development, Kent County Council The full report can also be found at: www.kentpropertymarket.com

Caxtons Chartered Surveyors, established in 1990, is one of the largest independent property practices Ron Roser in the South East offering a full range of agency, Chairman, Caxtons management, professional and surveying services across all property sectors.

Gavin Cleary Chief Executive, Locate in Kent Ltd

Kent Property Market Report 2019 03 Caxtons’ Property Market Analysis

Components of All Property IPF total return Caxtons’ Property forecast for UK Commercial Property Market Outlook Annualised average over period 2019-2023 0.9% Rental growth 0.5% UK All Property annualised total return forecast 2019 Capital return -0.8% Source: Investment Property Forum Survey of Independent Total return 4.0% Forecasts for UK Commercial Property, August 2019 Source: Investment Property Forum Survey of Independent Forecasts for UK Commercial Property, August 2018. Forecasts derived from 24 leading fund/investment management houses and consultancies.

While the UK economy has succeeded in withstanding a On the domestic front, consumer spending has remained OUTLET DESIGNER MCARTHURGLEN PHOTO: significant level of Brexit related uncertainty over recent years, relatively resilient despite the uncertainty. Record levels of recent intensification is taking its toll on activity. The Bank of employment have contributed to this outcome, although ’s average of independent forecasts indicates GDP with real incomes continuing to exhibit slow growth, the growth of 1.3% for 2019, well below the long term trend, with a potential for an expansion in spending currently remains more subdued 1.2% expansion in 2020. This said, all forecasts relatively mute even with a Brexit settlement. are currently accompanied by a plethora of scenarios and caveats given the current unique circumstances. Kent’s business park sector is looking ahead of the current turmoil. Established parks such as Kings Hill have seen robust Business investment has proved a casualty of this lettings activity, while the county’s science and technology uncertainty, compounded by a downturn in inward offering is developing rapidly with growth plans at Kent investment into the UK. Of course, the direction of Brexit Science Park, Discovery Park and Kent Medical Campus. travel may be clearer by the time of the publication of this The rapid expansion of technology and life sciences over report, but domestic issues are not the only concerns for the coming years will present tremendous opportunity. the UK economy. The global outlook is also less positive But success will depend on attracting top talent as well with the emergence of trade barriers in the US slowing as businesses across the spectrum, from start-ups to the growth in China and weak Eurozone growth. established. This year’s addition of further innovation space to the county’s existing supply will support this ambition. McArthurGlen Designer Outlet, Ashford. PHOTO: DISCOVERY PARK Nationally, office market total returns have slipped over the Kent prime yields last year due to outward shifts in yields, despite occupier ntra Mtet ntra trton Offices ne Park

activity remaining relatively buoyant. Kent has seen values 10 remain stable, with robust demand and supply shortages

driving rental growth, underpinning values. The county’s 90 towns with a critical mass of stock have seen greater activity,

including increased representation of knowledge-based 0 industries. Strategies to boost creative industries as part of

the Thames Estuary Production Corridor will further support 0 e high value jobs growth.

0 The delivery of new housing will be crucial to support these

ambitions. While Kent remains relatively affordable on a south 0 east basis, this value is increasingly being recognised, driving demand, particularly in the county’s commuter towns. The 1 201 1 201 1 201 1 201 1 2019 1 201 1 201 2 201 2 201 2 201 2 201 2 201 new settlements coming forward over the coming decades are 2 201 Discovery Park, Sandwich. being supplemented in the short term by a supply of exciting ore aton

04 Kent Property Market Report 2019 town centre housing. This will be crucial in the development of strong economic ecosystems over the long term.

This ecosystem approach will be essential in helping to re-purpose some of the county’s town centres facing the consequences of retail structural change. While some retailers maintain expansion plans, they are opportunistic in their strategies, while vacant space moves increasingly to leisure uses and independents. This said, new space is welcomed by retailers and communities alike. This last year has seen a number of new additions, ranging from out of town space at Estuary View, , to town centre provision at Elwick Place, while the expansion of McArthurGlen Designer Outlet, Ashford, will further enhance the trend.

Over the last couple of years, Kent’s industrial sector has gained a place on the institutional investor radar, driven by relatively affordable rents in a south east context, excellent accessibility and strong occupier demand. The last 12 months has seen increased investment and development activity by many of the funds, in addition to national developers. This will bring forward much needed stock to both the distribution and industrial market in the county.

At a national level the Investment Property Forum (IPF) Survey of Independent Forecasts suggests total returns will average 0.9% for 2019, driven by weakening rents and falling capital values. In this context, the Caxtons’ Prime Yield Series

UK total return IPF consensus forecasts Office Industrial Standard Retail Retail Warehouse All Property

demonstrates Kent has performed well, assisted by perceptions The IPF Survey suggests total returns to investors on a UK

of relative value offered by the county. However, the market wide basis will be around 4% over the period 2019/23, down has been challenged by a shortage of investment stock, a on that estimated last year. As with economic forecasts at 2 common theme across the property sectors in this report. present, the uncertainty associated with these expectations is significant and is subject to the Brexit outcome. 0 In the 28 year history of this report, never has it been 2 more challenging to look ahead. Clearly, the resolution of Kent’s strategic position for trade into Europe, combined with

Per ann Brexit would have positive implications, including business the accessibility to and other south east economic investment which typically drives expansion and relocation, centres will underpin future potential and provide the county 2019 2020 2021 driving activity in the industrial and office markets. with some protection from this difficult market. Affordability Notwithstanding the income challenges facing households and the quality of life offer will remain an important driver ore netent Property or rey o nepenent oreat noted earlier, greater certainty will also provide a much for business and household decision-making, and will or K oera Property t 2019 oreat ere ro 2 ean nnetent anaeent oe an ontane needed fillip for the residential market. transcend the current predicament.

Kent Property Market Report 2019 05 Caxtons’ Property Market Analysis Business Park Performance 19% 14% Increase in Kings Hill prime rent over last 5 years Increase in the average prime Kent business park Source: Caxtons rent over last 3 years Source: Caxtons

Despite the uncertain political and economic backdrop, the In April, planning permission was granted for Looking ahead there is consent for 12,000m2 (129,000ft2) business park market in the south east has proved relatively Borough Council’s proposed Innovation Centre at Kent new build accommodation. However, the site is also the buoyant over the last 12 months, contrasting with a more Medical Campus, as part of the North Kent Enterprise Zone. focus of a wider application as part of the Quinn Estates’ new subdued previous 12 month period. The Kent market mirrors The (3,437m2 (37,000ft2) Innovation Centre, designed by settlement Highsted Park. The plans include the delivery of this picture with key lettings occurring across the county’s Bond Bryan Architects, is under and will provide 36.8ha (91 acres) of new business space to double the size parks. Caxtons’ average prime business park rent grew by flexible office space, facilities and business support for SMEs of Kent Science Park and turn it into an international bio- nearly 3% in the year to June 2019. working in the life science, healthcare and med-tech sectors. gateway for life sciences and pharmaceutical manufacturing. Completion is due in 2021. In January, the Campus saw the A new motorway junction and link road between the M2 and Alongside professional services and other traditional opening of the 65 bedroom Cygnet Hospital Maidstone, A2 would be provided as part of the scheme. occupiers, high growth, knowledge intensive businesses while construction is underway on a 24-hour care home for in the areas of life sciences, tech and creative industries Care UK. The Campus has an existing consent for 98,000m2 Over the last 12 months Kings Hill achieved over 9,383m2 are growing in their presence on Kent’s business parks. (1.05m ft2) of commercial space (101,000ft2) of transactions involving nine tenants, including This reflects the national picture, assisted by a supportive Kent’s largest letting of 4,800m2 (51,666ft2) at 50 Kings government agenda. It is translating into lettings activity At Kent Science Park a 2,323m2 (25,000ft2) bespoke Hill Avenue to COVEA Insurance. Other significant lettings and robust demand in locations that offer the crucial mix manufacturing facility for an existing tenant was completed included 1,347m2 (14,500ft2) in 2 Kings Hill Avenue to FLIR of skilled labour and quality accessible business space. in 2018 and the £2m Hub was opened this spring. This Systems and 762m2 (8,203ft2) in 6 Alexander Grove to Millwood building provides new cafeteria and conference facilities Designer Homes. Further transactions include Cabot Financial This was illustrated by the arrival of Concept Life Sciences on for the growing number of hi-tech tenants on the park. (UK), Woodgate & Clark, Onwave UK, Marsh Corporate Discovery Park in June. The company occupied a purpose built, state-of-the-art clinical and niche commercial facility. Business park rents Kent average prime business park rent Pfizer also announced in June 2019 a £5m investment 201 201 201 2019 to enhance the company’s patient-centric design and 0 20 manufacturing capability for paediatric medicines in clinical 00 trials. This investment is the latest in a series of investments 20 0 20 Pfizer has made in advanced manufacturing technology at 00 Discovery Park, totalling £36m since 2018 and leading to 20 220 expansion at the park and 80 new scientific jobs. Meanwhile 200 210 in July, YPrime, a clinical trial management business, opened 10 per its first base outside the US, on the Park. Overall, Discovery 100 per 200 Park concluded lettings on over 3,716m2 (40,000ft2) of 0 190 manufacturing, laboratory and office space in the first 0 eight months of 2019. Current availability includes the 10 23,226m2 (250,000ft2) Building 500 offering flexible office 10 Rean Marte rnton Kn ata

and laboratory space from 186m2 (2,000ft2) and Building eatro roay nea reka Park reka antoke 2000 2001 2002 200 200 200 200 200 200 2009 2011 2012 201 201 201 201 201 201 2019 518, a 22,297m2 (24,000ft2) high grade GMP cleanroom 2010 tokey Park tokey ne Park ne Park manufacturing facility. ore aton ore aton

06 Kent Property Market Report 2019 Lettings Location Landlord/Vendor Tenant/Purchaser Floorspace ft2 Rent (pa) Lease term Agent 35 Kings Hill Avenue, Kings Hill Liberty Property Cabot Financial 10,994 – 10 years Altus Group / / Business Park, Hanover Green 21a Bailey Drive, Threadneedle Camfil 36,200 £7.00 psf 10 years with a break at year 5. Caxtons 5 month rent free and a further 3 months in Gillingham Business Park year 6 if break not exercised. Part 4, Road, Kings Hill, Liberty Property Onwave 6,887 – 10 years Altus Group West Malling

Sales Location Landlord/Vendor Purchaser Floorspace ft2 Capital value Agent Unit 4, Glenmore Centre, Ashford Private landlord uPVC window retailer 1,981 £235,000 / £118 psf Stafford-Perkins PHOTO: KENT SCIENCE PARK SCIENCE KENT PHOTO: Services, Version 1 Software UK, Mezzanine International, Underwood Carpenter and NMU (Speciality) Ltd. This has produced evidence of rental growth across the business park.

Crossways Business Park, , has seen key lettings over the last 12 months. Diebold Nexdorf (UK) Ltd, specialising in financial and retail technology, took the 2,374m2 (25,557ft2) Gf Radius building. Meanwhile, in July, completed the lease of the 1,392m2 (14,983ft2) Drake House.

Eureka Park, Ashford, currently comprises 2,7871m2 (300,00ft2) over its 38ha (94 acres), with consent for a further 100,000m2 (1.2m ft2). The park is fully let but there are design and build opportunities in buildings ranging from 929- 2,323m2 (10,000- 25,000ft2).

At Gillingham Business Park, Lloyds Bank have closed their office facility. The park is now almost fully let but with further Design & Build opportunities.

A common theme across the property sectors is a relatively quiet investment market. The business park sector is no exception. The 1,471m2 (15,837ft2) Sargasso House, Five Arches Business Estate, , was sold at asking price for £3.155m (NIY 8.75%) to Bexley Borough Council. Radius, on Crossways Business Park, was marketed for £10.9m (NIY 7.7%) while 1500 Eureka Park, is on the market for £9.31m (NIY 8.00%). The quoting price for the 2,515.61m2 (27,078ft2) Whatman House, 20/20 Business Park, Allington is £6.25m. The HUB at Kent Science Park, Sittingbourne, opened this Spring.

Kent Property Market Report 2019 07 Caxtons’ Property Market Analysis Office Performance 85% 35% Increase in the Gravesend prime office rent Increase in the average prime Kent office rent over last three years over last five years Caxtons Caxtons PHOTO: DRAGON COWORKING Office sector take-up across the South East has slowed Office rents over the last year with uncertainty weighing on business 201 201 201 2019 decision making. While Kent’s town centre office market has seen a number of key lettings over the last year, it continues 0 to struggle with a shortage of quality new space. Activity 00 remains biased towards local business growth, and smaller 20 floorspace lettings, driven largely by the supply available. 200 Evidence from the wider M25 office market demonstrates 10 per burgeoning requirements from larger companies, particularly 100 in knowledge intensive business sectors, both local and 0 more widely. Such activity has been limited by a shortage of 0 the prime town centre space favoured by some sectors of

the knowledge industry. This shortage has contained rental oer anet or Meay growth in some locations. The average Caxtons’ prime office artor onre Matone eenoak raeen oketone anterry

rent grew by 4% over the 12 months to June 2019, reaching ttnorne an average of £182m2 (£16.90ft2). Those centres able to e nre offer new accommodation such as Canterbury, Ashford and ore aton Maidstone are seeing greater activity. This is illustrated by Dragon Coworking, Rochester, Chatham. Golding Homes taking 2,201m2 (23,690ft2) at County Gate One in Maidstone on a 20-year lease. 1,995m2 (21,500ft2) of flexible office space following a Kent average prime office rent £1.1m refurbishment programme. The potential to broaden the occupier base where there 190 is the offer of quality new space is evidenced at Connect A number of higher rental value towns in the county have 10 38 in Ashford. The development, completed last year, saw seen little activity due to the dearth of town centre supply, the arrival of PageSuite, providing cloud based publishing constraining rental growth. These include 10 solutions taking 557m2 (6,000ft2), while Tarkett, Hollis and and Tunbridge Wells, in demand by smaller occupiers. 10 Towergate took a further 1,022m2 (11,000ft2) between them. Such locations remain popular for a range of occupiers 10

Similarly, infrastructure company VooServers with global from the creative industries to the finance sector. In March, 10

operations, moved to a newly completed headquarters at First Title Insurance took 549m2 (5,909ft2) at ECA Court, per Vinters Business Park in Maidstone. South Park, Sevenoaks. 10 120 The ongoing expansion of agile working and freelancing Despite the supply shortages across Kent, there is relatively 110 has brought further serviced office space provision to the little town centre office space coming forward in the short 100 county. In July, Helix Property announced their acquisition term. Longer term, U+I is part-funding the purchase of the

of Kestrel House and Knightrider House, both located close 4.86 ha (12 acre) Newtown Works site in Ashford, with Quinn 2000 2001 2002 200 200 200 200 200 200 2009 2010 2011 2012 201 201 201 201 201 201 2019 to Maidstone West station, with plans for BizSpace to provide Estates. The scheme submitted for planning consideration in ore aton

08 Kent Property Market Report 2019 Lettings Location Landlord/Vendor Tenant Floorspace ft2 Rent (pa) Lease term Agent County Gate One, Stacey’s Street, Private Golding Homes 23,690 £24.55 psf 20 years Martine Waghorn/ Maidstone GVA Wellington Gate, Tunbridge Wells Hermes Investments Inter Quest Group Ltd 4,000 £110,000 pax 10 year FRI. Broadlands Commercial £27.50 psf review/break at 5th Property Agents Ltd Suite 1, Grnd Floor, 10 Conqueror Court, London & County We Care Physiotherapy Ltd 1,041 £18,738 5 years Harrisons/Caxtons Staplehurst Rd, Sittingbourne 9, Waterside Court, Dartford DLC I-Cube 5,256 £21.15 psf 5 years Altus Group

Sales Location Landlord/Vendor Purchaser Floorspace ft2 Capital value Agent Kestrel and Knightrider Houses, Kestrel-Milroy Holdings Helix Property 22,470 £4.15m Martine Waghorn Maidstone Knightrider-Private Lonsdale Gate, Lonsdale Gdns, Threadneedle Penshurst (special ventures Ltd) 9,600 £3.05m Durlings Tunbridge Wells Apollo House, Chapel Place, Gen 2 Property Meir Goldberg 6,950 £730,000 Harrisons 171 Beaver Road, Ashford Addaction AAA Premier Group Ltd 1,931 £401,000 Freehold sale BTF PHOTO: MARTINE WAGHORN MARTINE PHOTO: October with plans for a mixed-use space, including TV/film which will include the creation of a new commercial quarter studio and production floorspace. The growth of such creative with 1,858m2 (20,000ft2) of new space. jobs will be aided by a commitment, announced in January, by the Department for Culture, Media and Sport, to develop While investment activity has been relatively slow, local the Thames Estuary Production Corridor as the world’s largest authorities remain active, with a number of new assets creative corridor. This includes an award of £4.3m funding purchased over the last 12 months, including Connect 38 into a £6.7m programme to the University of Kent and the in Ashford. The 7,432m2 GIA (80,000ft2) building was sold establishment of Estuary Works, which will provide creative by Quinn Estates and George Wilson Holdings to workspaces for creative and digital businesses in clusters like and Hythe District Council in March for £17m. and Chatham Dockyard. Plans for the provision of creative space in Ramsgate are also being investigated in a Heather Court, a 2,903m2 (31,254ft2) office on Maidstone project by Locate in Kent, Arts Council England and Heritage Road, Sidcup is currently being marketed with the benefit of Lab. This will add to the county’s innovation space which also a residential planning consent, while the 1,390m2 (14,963ft2) includes the evolving Coachworks scheme near the Ashford Progressive House, on the same road was sold for residential International station. Further information on page 33. use. However, generally the loss of office stock to residential use through Permitted Development rights has slowed, Elsewhere in the county, Quinn Estates received planning driven by a diminishing supply of obvious conversion targets consent in April for a mixed-use scheme at Eddington Park, and office stock shortages in many towns raising rental , to include 3,793m2 (40,828ft2) of office space. expectations. The same developer has plans at Bardell Wharf in Rochester, Kestrel House, Maidstone.

Kent Property Market Report 2019 09 Caxtons’ Property Market Analysis Industrial and Distribution 67% 11% Performance Increase in the Medway prime industrial rent Increase in the average prime Kent industrial over last three years rent over last 12 months Caxtons Caxtons

The weakness of sterling driven by Brexit uncertainty has of increase is ahead of the other property sectors in the Industrial and distribution rents assisted exporting manufacturing companies to an extent, county over the last 12 months, while CoStar analysis finds 201 201 201 2019 but confidence and business investment remains weak. the county has outperformed nationally since 2014. Robust However, this has not been reflected in the industrial and take-up has driven space shortages, leaving Kent with the 120 logistics property sectors, which continue to deliver second lowest vacancy rate in the UK in Q2, according to 100 robust returns. CoStar. The largest letting was Unit K, Springhead Enterprise 0

Park, , where 13,091m2 (140,900ft2) was let to 0 In Kent, both the industrial market and big box logistics have Berryworld Limited. Mid Kent Business Park, , seen pressure on available space. The Caxtons’ average saw DSG Retail take a 15 year lease on 7,058m2 (75,972ft2). per 0 Kent industrial rent rose to £990 per m2 (£92 per ft2), with 20 growth of almost 11% over the year to June 2019. This pace Despite anxieties of Brexit driven food stockpiling, the cold 0

PHOTO: GEORGE WILSON DEVELOPMENTS store market has not seen an upturn in demand. Fresh &

Wild took the 2,311m2 (24,879ft2) Sondix House, Sandpit oer anet or Meay Lane, Dartford, but this formed part of a wider strategy. artor onre Matone eenoak raeen oketone anterry

Overall, there has been little space released back to the ttnorne

market, although John Parker & Son, one of the largest steel e nre stockholder and processors in the UK, who occupy a large ore aton unit at Maybrook Retail Park, is facing administration.

Given the shortage of sites, an increase in construction Kent average prime industrial activity across the county is welcomed, with both national and distribution rent and south east developers now represented in Kent. 90 Chancerygate is particularly active with schemes at Sidcup, Crossways, , Rochester and Maidstone. The latter scheme, Maidstone Exchange, Parkwood 0

Industrial Estate comprises seven new warehousing units and one car showroom totalling 5,137m2 (55,296ft2). Meanwhile, Goya Developments’ Aylesford Business Park 0

provides seven new units ranging from 349m2 (3,757ft2) to per 3,839m2 (41,320ft2) for industrial and logistics warehousing. 0 In May George Wilson Developments completed the construction of eight light industrial units of 92m2 (1,000ft2) each on the Joseph Wilson Industrial Estate, Whitstable, 0 all of which were sold off-plan. The same developer has

New light industrial units, Old Wood Yard, Joseph Wilson Industrial submitted plans for a 2.2ha (5.5 acre) extension to the estate 2000 2001 2002 200 200 200 200 200 200 2009 2010 2011 2012 201 201 201 201 201 201 2019 Estate, Whitstable. adding 7,897m2 (85,000ft2) of industrial floor space. ore aton

10 Kent Property Market Report 2019 Lettings Location Landlord/Vendor Tenant/Purchaser Floorspace ft2 Rent (pa) Lease term Agent Unit K Springhead Enterprise Park, LaSalle Investments Berry World 140,900 £7.55 psf 15 years Altus Group / DTRE Northfleet Units 17 & 18, Decimus Park, North Farm Industrial Park, Tunbridge Wells Percival Drake Ltd Childrensalon Ltd 12,360 £130,000 10 years Durlings Warehouse, Caesars Way, Folkestone Private investor J H Young Ltd 18,078 with yard £85,000 15 year lease Smith-Woolley 5th & 10th year break 1 & 2 Mid Kent Business Park Private Everydog Ltd 3,469 + £31,645 rising to 10 years, Michael Parkes 1,497 Mezz £37,440 break at 3rd year Surveyors Ltd

Sales Location Landlord/Vendor Purchaser Floorspace ft2 Capital value Agent 3 Laker Road, Rochester Mr R Mills ALO Properties 10,176 £1.1m Harrisons Bridge House, Hop Pocket Lane, Thermo Group SCS UK Ltd 11,029 £890,000 Martine Waghorn Unit 29, John Wilson Industrial Estate, Jaytee Biosciences Mr and Mrs I Morris Ground floor: 1,970 £230,000 Caxtons Whitstable mezzanine: 1,810 Unit 4, Herne Bay Business Park, Lilley Tile & Stone N/A 2,054 £175,000 long BTF Canterbury Road, Herne Bay leasehold interest PHOTO: MAIDSTONE BOROUGH COUNCIL Development activity in the county has been assisted by a In August, Quadron, Littlebrook, a new build multi-let positive funding market with M & G, Orchard Street, Standard estate, let to Network Rail, totalling 4,239m2 (45,636ft2) was Life and Buccleuch backing developer-led schemes. sold by Buccleuch Property and Wrenbridge to Aberdeen Meanwhile, there are a number of substantial sites coming Standard, delivering a new low yield of 4.25% for multi-let forward. These include Vantage Point, Snodland and industrial in the county. Larkfield Mill Industrial Estate, Aylesford Newsprint, a 42ha (105 acre) site. Development Aylesford, which comprises 29,561m2 (318,194ft2) was sold opportunities for sale include 6.6 acres (2.67 ha) at Crittalls by Threadneedle to M7 in October for a quoted £33.5m, Corner, Sidcup and 3.6 acres (1.45 ha) at Lower Road, (5.23% NIY). The same fund is selling Units 1-8, Wincheap Northfleet. At Junction 8 of the M20 /Roxhill has Trade Park, Canterbury, totalling 6,493m2 (69,893ft2) for a planned scheme with space to accommodate up to £6.425m (6.25% NIY). 41,806m2 (450,000ft2) at Woodcut Farm. A 3,315m2 (35,680ft2) unit on Maidstone Road, Rochester The strong rental performance of Kent industrials relative sold in February to Corefresh Limited for £4m. Threadneedle to other south east markets, has paved the way for higher sold a single-let unit, occupied by Hermes Parcelnet on land values and lower yields and established the county’s Quarry Wood Industrial Estate, Aylesford for £4.95m (5.5% credentials amongst institutional investors. However, the NIY) in July to Marchmont IM. Meanwhile, the summer also outperformance of the sector has deterred disposals, saw the 7,058m2 (75,972ft2) unit let earlier in the year to resulting in relatively few transactions over the last year. DSG Retail Ltd, at Mid Kent Business Park, Snodland, sell for £10.5m (4.92% NIY). Aylesford Business Park.

Kent Property Market Report 2019 11 Caxtons’ Property Market Analysis Retail Performance £1,722m 2 -0.56% Tunbridge Wells records top prime retail rent in Fall in average prime Kent retail rent over Kent in 2019 last 5 years Cradick Retail Cradick Retail

A cocktail of Brexit uncertainty and ongoing structural change Guildhall Quarter to encompass three city centre sites when zip wire, giant swing and sky diving machine, with plans to in the retail sector continues to dispense a challenging the 8,640m2 (93,000ft2) Debenhams closes in January 2020. open in 2020. retail environment nationwide. Kent’s towns have seen The plans include eleven retail units with residential use on losses ranging from Debenhams to Top Shop. To an extent, the upper floors. In September, U+I received consent for a In the out of town market, George Wilson completed two the strong labour market has provided some support for mixed-use scheme at Shopping Centre adding an newly constructed retail units at Estuary View Business Park, consumer spending, which showed an upturn in July but additional 4,318m2 (46,479ft2) of retail space, with residential Whitstable, in autumn 2018. The units are let to Halfords and is likely to remain volatile until greater economic certainty and parking. Meanwhile, plan an £11m Pets at Home and adjoin existing stores ALDI, Home Bargains returns. This volatility is evident in rental trends over the refurbishment of Shopping Centre in and M&S Food Hall. The units are both 697m2 (7,500ft2), each last year, with much of the upturn seen in 2018 reversed. Tunbridge Wells, to be completed summer 2020. with a service yard, with 50 new parking spaces between The Cradick Retail average prime rent for Kent is close to them and on 10 year leases at £193 per m2 (£18 per ft2). Work the level recorded three years ago. The challenging retail environment has been felt at commenced in August at Royal London’s Horsted Retail Bluewater, with some planned closures due to Company Park, Chatham, with space for a new Aldi, Home Bargains, Vacant units are gradually being absorbed, however. Voluntary Arrangements. However, the centre also saw KFC and UFC Gyms, following planning approval in April. Independent retailers and restaurants are expanding their Primark open its 4,273m2 (46,000ft2) store in March. Levis, The units will open in spring 2020. Meanwhile, Location 3 presence on the county’s high streets, facilitated by the Happy Socks and Penhaligon’s have also opened and JD Properties submitted plans for four units on Anthony’s Way, nationwide rent rebase of recent years. Leisure uses are Sports, Beaverbrooks and Chisholm Hunter are increasing Medway City Estate, to accommodate a discount food also seeing growth across the county, again mirroring a their floorspace. In August, Hangloose Adventure Centre retailer, a drive-thru coffee shop, and trade counters. nationwide trend reported by Local Data Company. This is received planning consent to develop facilities, including a The application will be determined at appeal later in the year. illustrated by Hito Gym, with plans to open its first site in the UK in Sittingbourne, in the former Argos store vacated in 2017. High street retail rents Kent average prime high street rent 201 201 201 2019 In Ashford, the first phase of Elwick Place opened in December 2000 1000 2018, comprising a Picturehouse cinema and Travelodge. 100 90 Kent based Macknade, has taken a 10 year lease on the 476m2 100 (5,123ft2) Unit 1. Dansaki restaurant and Snap Fitness are also 100 900 1200 taking space. At Spirit of Sittingbourne, the restaurant and 1000 0 cinema space will complete in December 2019, with occupiers 00 including Creams, Nandos and Pizza Express. Meanwhile, in per 00 00 00

Hythe, The Chameleon Bar and Grill restaurant opened in July. per 0 200 0 00 Looking ahead, new retail and leisure uses are planned in a 0 number of town centre schemes. At Bardell Wharf, Rochester, oer anet or Meay artor

Quinn Estates received planning consent in July for 1,894m2 onre Matone eenoak raeen 00 oketone anterry

(20,387ft2) of commercial space, including retail and possibly ttnorne nre e nre 2000 2001 2002 200 200 200 200 200 200 2009 2010 2011 2012 201 201 201 201 201 2019 a supermarket for the town. Meanwhile in Canterbury, 201 90 North and Clague presented proposals to develop the ore rak Reta ore rak Reta

12 Kent Property Market Report 2019 Lettings Location Landlord/Vendor Tenant Floorspace ft2 Rent (pa) Lease term Agent 3 Chapel Place, Tunbridge Wells Private Landlord Hair International Ltd 1000 £23,000 pax FRI 5 years Broadlands Commercial Property Agents Ltd 7 Brookfield Court, Ashford Local Authority Private 720 £9,250 10 year FRI lease Stafford-Perkins 19 Preston Street, N/A Crankey Monkey Ltd 801 £10,000 exc 7 yr FRI Tod at yr 2 BTF trading as Gridlock RR at 3.5 3 months RF 22 High Street, Private Space NK 750 £39,000 10 years Martine Waghorn

Sales Location Landlord/Vendor Purchaser Floorspace ft2 Capital value Agent Retail Unit, Ebbsfleet Green, Talbot Lane, Redrow Homes Limited Cooperative Group 3,656 £685,000 Harrisons 6 Palace Street, Canterbury The Children’s Society Keith & Sophie Curtis 1,600 £340,000 Caxtons PHOTO: MCARTHURGLEN DESIGNER OUTLET DESIGNER MCARTHURGLEN PHOTO: UK Commercial Property REIT agreed a 2,508m2 (27,000ft2) part-surrender of B&Q’s lease, at Great Lodge Retail Park, Tunbridge Wells, with a re-let to ALDI. The space was formerly sub-let to Toys R Us. The £90m 9,290m2 (100,000ft2) expansion of McArthurGlen’s Ashford Designer Outlet completed in October, with fifty new stores added to the scheme. These include Armani and the UK’s first Haribo store. The additional floorspace also provides a new food piazza, events space and a redesigned interactive children’s play area.

The investment community remain cautious towards the retail market. That said, private investors continue to purchase opportunistically, seeking out primarily high street assets. The WH Smith and Co-op units in Maidstone sold in June for £2.265m (NIY 8.875%) and £1.97m (NIY 5.5%) respectively, both to private investors.

Local authority investment activity continues. Medway Council purchased the , Chatham, for £34.8m (NIY 9%) from Ellandi and Bridges Fund Management. This purchase was one of two key shopping centre sales in the county this year. The 8,389m2 (90,298ft2) Forum Shopping Centre, Sittingbourne was sold in January by Tesco for £7.35m (NIY 9.66%) to Praxis Asset Management, while the 2,461m2 (26,500ft2) Bouverie Place shopping centre, Folkestone, also went on the market over the summer. McArthurGlen Designer Outlet, Ashford.

Kent Property Market Report 2019 13 Kent County Council, Medway Council & Kent’s District Council Commentary

The last year saw further development across Kent to plan substantial investment in new experiences over the Leisure and Tourism strengthen the visitor offer. The following examples show forthcoming years. continued confidence in Kent’s visitor economy and creation • The National Trust completed their £7.75m conservation Performance of new job opportunities in the sector: project at Knole opening 15 showrooms, the house attics, • Chapel Down Winery opened its new state-of-the art Gatehouse Tower and the exceptional range of furniture, brewery and visitor centre, Curious Brewery in Ashford textiles and paintings on display inside. Sissinghurst Castle town centre in May 2019. The brewery includes a shop, will also complete a garden conservation project in late tasting area, bar and restaurant. summer 2019. • Elwick Place in Ashford, which includes a new Picturehouse • Canterbury Cathedral is undergoing a major 5-year boutique cinema, was officially opened in December 2018. development project including a new Welcome Centre The most recent Cambridge Economic Impact Model • Macknade Fine Foods will also open their new food and to open in autumn 2019. analysis showed that in 2017 the county welcomed a record drink hub at Elwick Place in late 2019. • Margate Caves opened this summer following investment 65m visitors, an increase of 5m visitors on 2015 which • English Heritage invested £2.3m in reviving the lost pleasure from the Big Lottery Fund and the Heritage Lottery Fund, included over one million international visitors for the first grounds at Walmer Castle, with the historic glen accessible boosted by a crowdfunding initiative. This provided a visitor time. The visitor economy is worth £3.8bn to Kent annually for the first time in 100 years. English Heritage also opened centre, shop, cafe and community hub. and accounts for around 77,000 jobs or 11% of total Kent a new cold war themed escape room at Castle and

employment. In turn, this growth has stimulated significant & RESERVE HOTEL LYMPNE PORT PHOTO: new investment in Kent’s wider economy.

Visit Kent’s monthly Business Barometer tracks tourism trading performance and allows businesses to benchmark occupancy and footfall figures within their peer group. This data supports developers and those planning investments to make informed decisions based on demand. The Visit Kent strategy focusses on: • increasing the value of the visitor economy by driving overnight visits • proactively targeting investment in new accommodation stock • targeting high spending international visitors • the high value business events market

These priorities are aligned to the new Tourism Sector Deal with the government which sets out plans to support the growth of the visitor economy nationally and deliver an additional 130,000 bedrooms and create 30,000 apprenticeships by 2025.

Attractions Visit Kent’s Business Barometer 2019 Q1 report shows footfall to visitor attractions in Kent was up by 9.9% compared to Q1 2018. Despite the uncertainty around Brexit and a fall in visitors from key international markets, Kent’s attractions have continued to see an increase in footfall demonstrating the resilience of the sector locally in times of uncertainty. Lion Lodge at Port Lympne Hotel & Reserve, near Hythe.

14 Kent Property Market Report 2019 PHOTO: THE PIG HOTEL PIG THE PHOTO: • Hush Heath Estate opened a new £4m Winery, a 200-seat tasting room and visitor centre opened in late 2018 allowing them to more than triple production over the next 5 years. • Maidstone Borough Council has committed to investing £4.3m in the redevelopment and improvement of Mote £3.8bn Park over the next few years. The initial improvements to The visitor economy is worth £3.8bn to Kent annually the car parks, play area and creation of the new Adventure and accounts for around 11% of total Kent employment Zone were completed in early 2019. Visit Kent Business Barometer • Biggin Hill Memorial Museum opened in February 2019 following an investment of £5.3m. • The Tunbridge Wells Museum is currently undergoing To support the Visit Kent strategy of increasing overnight redevelopment into a Cultural Learning Hub and is due stays in the county it is essential to increase investment in to open in 2021. quality accommodation across all price points. The last year • The Historic Dockyard Chatham completed the £8.2m has seen the following developments: restoration of the Grade 1 listed Fitted Rigging House in • A 28 bedroom boutique hotel and restaurant, The Pig at autumn 2018 and will begin work on a project to restore Bridge Place, opened in May. the machinery in the Victorian Ropery. • The luxury Cave Hotel and Golf Resort opened in June • A new Urban Sports Park including a climbing and skate 2019 at Boughton near Canterbury, providing two park is due to open in Folkestone early 2020. restaurants and conferencing facilities. • Prison Island, a new 929m² (10,000ft²) escape room • Hampton By Hilton are set to take the hotel on the Slatters opened in Maidstone High Street. site in Canterbury, planned for completion in 2020. The • Chimera Climbing will open a new climbing centre in international hotel brand has also confirmed a £10m Canterbury in November. development in Folkestone on the former Silver Springs • Lydden Hill Race Track have submitted an application to site alongside an Ibis hotel. redevelop the offices into a VIP Centre and additional use • Artgame in Margate opened four luxury apartments above of the circuit for non-race activities. an art gallery in July 2019. • Restoration of Charles Dickens’ Swiss Chalet which sits in • The Rochester Riverside development includes plans for the grounds of Eastgate House in Rochester is planned to a hotel including conference and meeting room facilities. coincide with the anniversary of the author’s death next year. • Elmley Nature Reserve in Sheppey opened the newly The Pig at Bridge Place, near Canterbury. • Wildwood near Canterbury opened a new walk through renovated 18th century Kingshill Farmhouse which sleeps red squirrel experience in May. up to 14. • A new 115 bedroom Premier Inn will be opening on the • Dreamland opened a new European restaurant, Café • The University of Kent plans a hotel and conference centre Merevale House site in Tunbridge Wells in December. Barletta, to increase their food and drink offer. as part of the Canterbury Campus Framework Masterplan. • Shepherd Neame invested a total of £10.2m to improve • Reuthes Lost Gardens has opened at Reuthes Nursery, • Port Lympne Reserve opened new accommodation their managed estate in 2018. A £500,000 refurbishment Sevenoaks including their latest luxury experience, Lion Lodge and is at the Marine Hotel in Tankerton and a £100,000 • The development planned for the due to open Giraffe Hall, a luxury 10-bedroom hotel and refurbishment of The Ship Hotel in were Peninsula confirmed partnerships with ITV 6 cabins, in 2020. completed in July 2019. Studios, BBC Studios and Paramount Pictures. • Travelodge opened a 58 bedroom hotel at Elwick Place in • A new Spa upgrade was unveiled at Dover Marina Hotel Ashford in January 2019, a 108-bedroom hotel in the St as part of a £1m investment in the property. Accommodation James development in Dover and two more will open in In Visit Kent’s Business Barometer 2019 Q1 report, serviced Sittingbourne and the Rochester Riverside development With several major events and anniversaries taking place in accommodation supply increased by 3.6% and demand was later this year. The company has approval for a 75 bedroom Kent over the next year, including The Open golf tournament up by 4.2% compared to the same period in 2018. Across Kent’s development at Discovery Park and is actively targeting in Sandwich and the Turner Prize in Margate, Visit Kent will larger hotels and chains (based on data supplied through STR sites in Ebbsfleet/Bluewater, Canterbury, Deal/Sandwich, be working with partners to capitalise on these opportunities Global for 82 properties and just over 6400 rooms), occupancy Folkestone, Herne Bay/Whitstable, Maidstone, Sevenoaks to attract new visitors and to utilise this platform to raise the was 65.3% an increase of 0.6% compared to Q1 2018. and Tonbridge. profile of Kent as a national and international destination.

Kent Property Market Report 2019 15 Caxtons’ Property Market Analysis

Rural Performance Farmland has proved a safe and secure investment over the long term and in recent years has outperformed many 13% other assets and will ride out the current Reduction in farmland being marketed to end pressures of Brexit and beyond. August 2019 compared to same period 2018 Savills

It is remarkable how resilient the farmland market has been The picture is similar at both country and regional levels. this year, given the extraordinary political events close The average value of prime arable and grade 3 grassland SAVILLS to home and economic trading of blows further afield, across GB is around £8,700 and £5,500 per acre respectively. according to Savills. However there is a broad range of prices achieved either side of the average, with neighbours working quickly to The appetite for farmland remains largely unchanged, there secure rare opportunities to acquire adjoining land and there are ready buyers for good quality land who are still prepared is renewed international interest in farmland assets in well to pay sensible prices and will even pay above the going rate located areas. In the south east, we have seen average values where circumstances are favourable or there is an element of around £9,000 – £9,500 for prime arable and £6,000 – of competition. What is perhaps equally noticeable is that £6,500 per acre for grade 3 grassland. poorer land is also seeing increasing demand from buyers looking to invest in the environment, apart from anything The recent correction in the value of bare commercial they see that support mechanisms are likely to favour farmland is now creating opportunities for investors to stewardship going forward. make a reasonable return, and conservation-minded buyers continue to express an interest in marginal and high-nature Aerial view of Court and Brookers Farm near Gravesend. As the industry experienced in 2003, the expected change value areas. It is important in current market conditions with of support regime is delaying decisions to market land, so little supply available and the wide range of variables that regardless of the presence of active buyers in a quiet market. influence prices paid, to not over rely on average values.

According to Savills research, in the south east of England, Farmland has proved a safe and secure investment over Great Britain – Publicly Marketed Farmland 9,854 acres of farmland have been marketed during 2019 to the long term and in recent years has outperformed many oan araran oer 0 are t P arkete n te the end of August, compared with 11,305 acres in the same other assets and will ride out the current pressures of Brexit natona pre reona pre an nternet te ne ennn 201 period in 2018, a decrease of -13%. This compares with a and beyond. 0000 decrease in supply across Great Britain of -33% (England -29%) for the same period, from 86,193 in 2018 to 61,479 For more information: 00000 acres in 2019. Michael Wooldridge 20000 Head of Office, Savills Maidstone Pricing remains important. It is noticeable that farms and 01732 879052 per 200000 land are sticking where the price is over-ambitious and those 10000 that have their price level adjusted to a less ambitious level Dickie Mann 100000 are quite quick to regain traction in the market place. Farm Agent, Savills Maidstone The message therefore is simple – if you are a serious seller, 01732 879050 0000 be a realist on value and success is far more likely to come 0 to you. An off-market offering can be used to test the water, 2011 199 201 199 201 201 2012 201 1999 199 201 199 201 2001 2010 200 200 200 2002 2009 200 200 200 2000 but ultimately we are finding that price sensitivity stretches 2019 2019 to en o t even that far. ore a Reear

16 Kent Property Market Report 2019 PHOTO: KENT & SUSSEX HOLIDAY COTTAGES HOLIDAY & SUSSEX KENT PHOTO:

LEADER assisted a farmer on the Romney Marsh to convert a 200 year-old derelict ‘Looker’s Hut‘ into visitor accommodation. Photo: Kent & Sussex Holiday Cottages

Kent Property Market Report 2019 17 Caxtons’ Property Market Analysis PHOTO: GREAT FIELD FARM / ACT STUDIOS / ACT FARM FIELD GREAT PHOTO: LEADER Grant Funding in Kent

Kent’s LEADER programme is a source of funding for rural businesses, farmers, foresters and communities to help secure a sustainable future for the rural economy. The LEADER Programme is a bottom-up, community- led approach to the delivery of the Rural Development Programme for England funded by Defra and the European Union. The planning, decision-making and implementation is via Local Action Groups made up of private, public and community sector volunteers with a wide range of knowledge and experience of local rural issues.

LEADER in Kent has a budget of £5.25m for 2015-2020 and applications are currently closed. The programme has been very popular and over-subscribed to the extent that

approximately £370,000 of additional funding was awarded Bumble Barn, Canterbury. PHOTO: LJPRITCHARD / THEKIKKCANTERBURY to both the Kent Downs and Marshes & West Kent areas. The emphasis is on providing jobs and growth in rural areas. manufactured in the UK along Passivhaus principles, built It has a rolling funding mechanism with a minimum grant from mostly natural, low impact materials, featuring high- of £2,500 and a maximum of £50,000 to £100,000 (higher performance insulation and air-tightness. The exterior is under certain circumstances), at a rate of 40% of eligible costs clad in low-maintenance natural cedar with a sedum roof to for commercial projects. Recent LEADER projects include: enable it to blend into its rural environment, while allowing visitors to benefit from views of the countryside. Simpsons Wine Estate – New Press Room LEADER has helped to support the expansion of the Winery The building was constructed off-site, in ready-made, Facilities at Simpsons Wine Estates and construction of a fitted sections before being assembled on site in a few new Press Room. The business was established in 2013 to days ready for occupation to minimise impact on existing produce Method Traditional English sparkling wines from a tourist accommodation close by. The new self-catering newly established 30ha (74 acre) vineyard in Barham, near lodge is helping the business to cater for larger groups and Canterbury. The business has 10ha currently in production, meet the growing demand for high quality, eco-friendly but this will triple to 30ha in 2019, giving the potential to accommodation in Kent. crop 300 tons of grapes producing 2100 hectolitres of wine or 210,000 one litre bottles. The Looker’s Legacy LEADER assisted a farmer on the Romney Marsh to Treehouse – The Lodge Farm, Stelling Minnis. The new press room will help to facilitate a significant convert a 200 year-old derelict ‘Looker’s Hut‘ into visitor increase in the productions of Simpsons’ English Wines. accommodation. This will bring a unique heritage feature of Treehouse – The Lodge Farm There will be seven new products created including five the Marsh back into economic use as a small ‘couples retreat’ LEADER helped the owners of a smallholding in Stelling different sparkling wines and two still wines. It will also in a building of architectural and historical significance. Minnis to create a unique, luxury visitor accommodation as create additional processing facilities for other vineyards to part of their business. The new ’Treehouse’ uses sustainable use – both large and small producers. The project involved the restoration of the Looker’s Hut to materials to blend with it’s surroundings in the long term contain a bedroom and bathroom and construction of a and reflect its location with a Kentish oast house style roof. Great Field Farm – Bumble Barn modern, contemporary extension as an entrance kitchen, The treehouse was designed and installed by Nid Perché, LEADER has helped assist an established B&B business of 27 dining and living space to match the scale of the original a specialist French company who develop and install years to create new environmentally friendly accommodation building. The use of natural cladding on the modern buildings to unique designs. for tourists to the Canterbury area. The new lodge was extension was designed to complement its rural setting.

18 Kent Property Market Report 2019 Kent County Council Wye Village Hall and Pavilion Refurbishment Village and Community Hall Grant Scheme Over the last 20 years 180 community halls KCC supported the refurbishment of this disused village throughout Kent have benefitted from over pavilion near Ashford as a community room. Work included Community buildings are important components in a stripped out shower area and making good internal floors sustaining inclusive and active communities, particularly in £4m in funding from Kent County Council and walls, improved access for people with disabilities, rural areas where fewer venues and services are present. to support the building, refurbishment and repairs to the exterior cladding and insulation and the They are host to a wide variety of activities catering for development of facilities that provide vital installation of a small kitchen area and toilet. The Pavilion will all sections of the community. Often, they are the only be made available for the whole community but will have an community facility in a neighbourhood, available for public space for the communities they serve. emphasis on youth provision. The refurbishment will allow use. They serve as a social centre, arts centre, sports centre the local Youth Club to run again and provide enhanced and, in some cases, provide education, health or retail The Margate Caves Centre & Community Centre facilities for local Cubs, Scouts and Brownie groups. services. At the heart of the Margate Caves Centre project is the Visitor Centre – funded by the Heritage Lottery Fund and For more information: In Kent there are around 300 village halls and many more Big Lottery. The building’s dramatic exterior provides a new www.kent.gov.uk/leisure-and-community/community- community sports and recreation centres, social clubs, landmark on the route from Margate’s Old Town to Dalby grants-and-funding/village-and-community-hall-grant- and church halls, and their importance to the health of our Square, Northdown Road and Cliftonville. The visitor centre scheme communities is growing. provides access to the restored Caves and features a shop and café. At the rear of the visitor centre is the Community For more information: Village and community halls are also important contributors Centre, supported by the County Council’s Village and www.ruralkent.org.uk to Kent’s economy, supporting local jobs directly (cleaners, Community Hall Scheme, offering flexible spaces which caretakers, grounds maintenance) or indirectly (pre-school can be used for a range of activities. It is available as a base staff, shop and post-office staff, fitness instructors, caterers). for schools visiting Margate or for local groups to meet. They also use local building firms, electricians and other The community rooms open onto gardens which cover the local services. Caves themselves. PHOTO: KENT COUNTY COUNCIL COUNTY KENT PHOTO: The majority of community buildings are run by small charities and local volunteer trustees and are heavily reliant on fundraising. Often with a leaky roof, poor kitchen or toilet facilities, a cold, damp hall with community activities being turned away from using the building because there is simply not enough room. This leads hall management committees to turn to Kent County Council’s Village and Community Hall Grant Scheme.

Over the last 20 years 180 community halls throughout Kent have benefitted from over £4m in funding from Kent County Council to support the building, refurbishment and development of facilities that provide vital space for the communities they serve. Action for Communities in Rural Kent (ACRK) has a major role in the operation of the scheme, as well providing a specialist comprehensive advice and information service to the volunteers who run and manage community halls. Recent examples of supported projects:

Margate Caves Centre & Community Centre.

Kent Property Market Report 2019 19 Caxtons’ Property Market Analysis

Clearly, some locations performed better than others. Average new build price range by location Residential Performance The higher value west Kent markets have seen little price Residential new build land values growth on average over the last year. The exception to this New build average price is Sevenoaks which has performed a little better on the achieved (£/ft2) back of ongoing London out-migration, although activity Location Houses & Apartments is primarily focused on the first-time buyer and commuter 2018 2019 apartment market. In the commuter towns in north and west Kent developers are adapting their designs to meet the Ashford £295-£375 £295-£375 preferences of London incomers. Canterbury £325-£475 £325-£450 Dartford £375-£450 £375-£450 The economic and political environment continued to Ebbsfleet Garden City is one such market with strong Dover £275-£350 £250-£350 take its toll on the housing market over the last 12 months. commuter demand. Over 1,700 new homes have now been £350-£425 £350-£425 According to analysis for this report by Hometrack, Kent delivered and June saw the latest announcement from Maidstone £300-£400 £310-£400 markets (see table) have generally outperformed the south Homes England, with approval for Homes to east average price growth of just 0.18% over the 12 months build 589 homes, 224 of which will be affordable on an Medway £300-£400 £300-£400 to end of July. 11.4ha (28 acre) site. The first homes are due by May 2020. Sevenoaks £400-£675 £500- £750 The year also saw Ebbsfleet Development Corporation’s Folkestone and Hythe £275-£400 £275-£450 It is likely the scale of the dip in prices has been cushioned Planning Committee approve masterplans and design codes Swale £275-£375 £250-£375 by the shortage of stock as potential buyers sit tight during for the villages of Ashmere and Alkerden. Up to 4,600 homes Thanet £275-£350 £275-£350 the current period of uncertainty. Nationally, transactions are planned across the two new villages, located in the £350-£450 £375-£475 fell by 12.4% over the year to the end of July. On a 12-month newly named Whitecliffe area. rolling average, activity was at its lowest since March 2014. Tunbridge Wells £425-£575 £375-£600 Despite this, all the major housebuilders remain active across At Kings Hill, are underway with Source: RPC Land & New Homes the county, with 7,982 net completions in 2017/18 (KCC), their scheme for 132 homes, ranging from 2 bedroom although build rates have subsequently slowed. apartments to 5 bedroom houses. Clarion Housing

PHOTO: CLAGUE ARCHITECTS CLAGUE PHOTO: Group is also developing 166 homes over three separate community proposed by Quinn Estates will provide around housing areas, of which around two thirds are affordable. 8,000 new dwellings comprising 2, 3, 4 and 5 bed houses, Detailed planning consent has also been granted for a including affordable housing, in addition to self-build plots. 70 unit scheme comprising a mixture of houses and a small number of apartments. The sale of this site is currently under Peel L&P’s second stage of Chatham Waters, a £650m negotiation. In addition, Anchor Lifestyle Developments regeneration project on former dockyard land started is now constructing 75 assisted living apartments and on site in July. Russells Construction started work on the sites for further age-related accommodation are under 193 apartment scheme which is expected to complete by consideration. spring 2021. In the autumn, the first phase of Quinn Estates’ 660 unit development at Riverside Park in Ashford was In Folkestone, an outline planning application was submitted completed. The developer secured consent in July for 331 in February by landowners Folkestone & Hythe District apartments at Bardell Wharf, Rochester. Council and Cozumel Estates for Otterpool Park, a new garden town. The application includes proposals for the first Quinn Estates also plan to submit a planning application 8,500 homes to be completed in phases by 2050, including later in 2019 for a mixed-use development designed by up to 648 units for residential accommodation for older Guy Hollaway Architects including 300 apartments at people and 1,725 affordable homes. Newtown Works in Ashford, while Esquire Developments secured consent for nearly 100 new homes designed Highsted Park, located near Sittingbourne’s Kent Science by Clague Architects, at Cliffe Woods. The architect also Park, will also deliver significant numbers of homes for developed plans for the refurbishment of Newingate House, Proposal for the redevelopment of Newingate House, Canterbury. the county if it achieves planning consent. The mixed-use Canterbury, to include 10 apartments.

20 Kent Property Market Report 2019 PHOTO: PEEL GROUP PEEL PHOTO: House price change in Kent to end of June 2019 5 year compound Average 5 year annual 12 month house price change growth rate change (rounded to Location in price in price nearest £15k) Ashford 30.60% 5.50% 2.40% £300,000 Canterbury 31.90% 5.70% 0.30% £315,000 Dartford 34.00% 6.00% 0.30% £315,000 Dover 35.60% 6.30% 1.80% £240,000 Gravesham 37.10% 6.50% -0.70% £285,000 Maidstone 30.00% 5.40% -0.70% £315,000 Medway 38.90% 6.80% 0.30% £240,000 Sevenoaks 29.10% 5.20% 0.60% £480,000 Folkestone and Hythe 34.60% 6.10% 1.50% £255,000 Swale 36.90% 6.50% 0.70% £255,000 Thanet 45.10% 7.70% 1.60% £240,000 Tonbridge and Malling 29.90% 5.40% -0.10% £375,000 Tunbridge Wells 26.10% 4.70% 0.00% £405,000 Source: Zoopla Proposal for 193 high quality apartments to be delivered at Chatham Waters. PHOTO: CLAGUE ARCHITECTS CLAGUE PHOTO: In January, housing association Home Group bought a leasehold block of 49 affordable homes and 13 townhouses from modular developer Top Hat for £12.5m. The units form part of the larger Kitchener Barracks scheme in Chatham and will be available as shared ownership. Top Hat are delivering a total of 302 homes on the 2ha (4.8 acre) site with completion due in phases and finishing in spring of 2021.

In May, a site adjoining Old Thanet Way, Whitstable was purchased by the Hyde Group housing association in association with Westerhill Homes from Devine Homes Plc, with plans for 400 homes. Meanwhile, July saw Watkin Jones agree the £19.6m forward sale of its 197 bedroom student development in Canterbury, with Europa Generation Student. The scheme will be ready for the 2020/21 academic year.

Proposal for Cliffe Woods in the Hoo Peninsula, Medway.

Kent Property Market Report 2019 21 Locate in Kent Commentary

We are in the midst of an upsurge in development of multi- Inward Investment use and co-working space. More than 40 co-working spaces Kent has really allowed us to triple the are up and running in the county offering everything from size of our business. From being a hub for communal desks to fully serviced offices, with a further 10 in the pipeline. Recent additions to the Kent co-working manufacturing, it makes it very easy for us landscape include the Coachworks project in Ashford. Led to get materials, recruit skilled staff to join by Carl Turner, who won plaudits for his PopUp Brixton project, this scheme has transformed a disused cornmill in the team, and grow our business. Ashford town centre into a vibrant hub for creative start-ups Troy Barratt, Managing Director, Contracts Engineering

with a new food and event space next door. KENT IN LOCATE PHOTO: Investment promotion activities Locate in Kent is the official investment promotion agency Kent Space, meanwhile, launched its new co-working for Kent and Medway, offering a free, impartial and space this summer, the first in Ebbsfleet Garden City. Faith in confidential service. Our networks, knowledge and expertise Strangers, a new 340 capacity co-working space opened make us the first point of call for businesses looking to in September in a former Margate nightclub, delivering a succeed in Kent. new multi-use arts venue and thinking space where ‘strangers can become collaborators in pursuit of new ideas.’ Whether a company is starting up, looking to expand or The Hive, Tunbridge Wells; the Old Co-Op Building in Dover relocate, Locate in Kent can offer support in a number of and Neptune Co-Working in Herne Bay are amongst those ways: from property search, relocation support, business set to follow. growth advice and access to funding. Over the last 12 months, Locate in Kent has recognised a number of Food and drink production trends in the types of property enquiries received. Food and drink production is synonymous with Kent and we have a long history of success and innovation in this sector. Our Co-working space location between the UK’s largest concentration of households Across Kent and Medway, increasingly businesses are in London and as the gateway to global markets means we identifying co-working spaces as integral to their ability to are home to a large number of high-value food and drink Contracts Engineering moved into their new factory in scale up and remain agile to their markets. It is no longer production, processing, packaging and logistics companies. Sittingbourne in January 2019.

good enough for these businesses to locate themselves in PHOTO: DRAGON COWORKING oppressive office environments if they want to recruit the With leading organisations already based in our region, from AC best talent and create a culture of productivity. Goatham in Medway to Chapel Down Plc in Tenterden and the UK’s largest greenhouse complex at Thanet Earth in Birchington, According to a 2018 report by Cushman and Wakefield, we are seeing a growing interest from organisations flexible workplace providers accounted for a fifth of all office looking to join Kent’s cluster of more than 2500 food and space in Central London last year, with competition in major drink businesses. With access to an excellent supply chain, cities now intensifying. Globally there has been a tripling industry experts and innovative technology, the pull of Kent in size of co-working space since 2006, to approximately as a go-to location for food and drink manufacturing is clear. 11,000 centres.

Locate in Kent is already seeing a trend in demand for smaller Kent gives us access to a large pool of highly office spaces, with requirements for increased quality and flexibility. With a growing desire for better work-life balance skilled workers. We are based in a highly and unique work environments built for a multi-generational populated area with a lot of local talent and workforce, businesses are regularly looking to co-working space to meet this need. experience in the construction sector. Barry Foster, Managing Director, BJF Group Dragon Coworking in Rochester.

22 Kent Property Market Report 2019 PHOTO: LOCATE IN KENT IN LOCATE PHOTO: The growth opportunities are apparent as our region continues to innovate to grow more productively using less space and water, to distribute using fewer food miles and process to create healthier products with reduced waste. Leading edge organisations such as NIAB EMR and the Natural Resources Institute from the University of at Medway are ensuring that Kent stays at the forefront of research and innovation in food production.

Major investments Locate in Kent successfully helped 70 companies last year (August 2018 – July 2019) to set up, move or expand in Kent and Medway, projected to create 1,665 jobs over the next 3 years and retain 1,960 jobs. At the end of July 2019, Locate in Kent had a pipeline of 260 investment projects for companies looking to start up, expand or relocate in Kent and Medway, with 30% of them being overseas companies.

Notable investments included: •Precision Sheet Metal Manufacturing company, Contracts Engineering, moved to their new 13,000 sq ft factory with 3,000 sq ft office in Sittingbourne in January 2019 which will enable them to significantly increase their production capability.

•Fine foods brand Macknade will open a food and drink hub at number one Elwick Place, Ashford this autumn. The unit, a stone’s throw from Chapel Down’s Curious Brewery, Kent fine food brand Macknade will open a food and drink hub at one Elwick Place, Ashford, this autumn.

is 5,123 sq ft, and the largest retail space available at the KENT IN LOCATE PHOTO: central Ashford Development. Kent’s an amazing place to start a business, •Pfizer is continuing its commitment to the UK Life particularly in the food and drink space. Sciences sector by investing £5m in advanced paediatric manufacturing at its Discovery Park site in Sandwich, Kent. It’s a big market in its own right, so it’s a Pfizer’s investments at Discovery Park total £36m since great place to seed your business. We have 2018, leading to renewed growth and 80 new scientific jobs. great transport access, which makes it Get in touch today to find out more about our free really easy for us to attract buyers, who business support services and network of contacts: are based in London to come and see us. www.locateinkent.com/property-search Stephen Russell, Co-founder, Copper Rivet Distillery [email protected] 01732 520 700

The Copper Rivet distillery is set in a magnificent Victorian Pump House on Chatham Dockyard.

Kent Property Market Report 2019 23 Kent County Council, Medway Council & Kent’s District Council Commentary PHOTO: PROJECT CENTRE PROJECT PHOTO: new leisure and retail facilities is being complemented Infrastructure and by £12m of public funding for transport and public realm improvements, providing a much enhanced and pedestrian Regeneration friendly area for shopping and leisure activities in the town. Work commenced on the first phase of the scheme in May 2019 and is to be complete by March 2020. This will create an attractive landscaped area linking the High Street with Central Park. Revamping of the High Street will follow along with further phases of the improvement works.

North Kent Dartford has been successful in its initial bid for Future High Streets Funding. It is one of 50 local authorities which will Dartford have the opportunity to share in the £675m pot. The bid is Situated at the heart of the regeneration focused on re-purposing surplus retail space to other town area in north-west Kent, the stands at centre uses. The council is working closely with its town a pivotal point between Greater London, Kent and . Proposal for public realm improvements Market Street, Dartford. centre partners to develop the bid through to the next stage. It has excellent connections to central London, the south-east and UK channel ports and the continent via recently committed £4.85M to develop a business case in Residential development immediately to the north of the the strategic road and rail network. The intersection of the support of the scheme. If implemented, this would extend town centre at Langley Square and Phoenix Quarter, proved A2 and M25 and the provide a unique Elizabeth Line services from , the West End very popular with new home buyers, with approximately locational advantage helping attract investment interest and and Heathrow beyond Abbey Wood, through Dartford to 900 homes already occupied and around 400 under drive strong growth locally. A positive investment climate connect with Ebbsfleet International’s High Speed One construction. There is strong developer interest in this is further assisted by an up-to-date Local Plan guiding services to London St Pancras and continental Europe. area and further sites are expected to be brought forward. development, strong housing delivery, a five year supply On the southern edge of the town centre, at Lowfield of housing land and a well-developed Infrastructure Plan. The Borough will also benefit from the prospective Lower St, construction has begun on the first two phases of a Funding mechanisms, including a Community Infrastructure Thames Crossing. This will cross the river east of Tilbury and mixed use development comprising 1,500m² (16,146ft²) of Levy, S106 commitments and central government funding Gravesend, linking the M25 near North Ockenden, Essex, retail and community floorspace, offices and 550 homes for transport improvements and new schools are all in place with the A2 near Shorne. It is programmed to be complete by overlooking Central Park with a micro-brewery and café to bring forward the infrastructure required to support new 2027 and will relieve the Dartford Crossing and increase the facing on to a public square. development. resilience of the surrounding road network. A planning application is anticipated at the end of 2019 for Dartford has experienced its fourth year of housing Designs are being finalised for the A2 Bean and Ebbsfleet the site on Hythe St/Westgate St in the heart of the town completions significantly in excess of local housing need. junction improvements, with a Public Inquiry due in centre. The HCA/Council owned site, being brought forward There were 1,010 completions in 2018/19, approximately autumn 2019 and a proposed start on site in 2020. The with development partner Muse, will significantly enhance double the long running average for Dartford and well in improvements will help support planned development, the town centre’s leisure and retail offer with proposals excess of the housing need figure of 797p.a, as calculated supporting jobs and housing growth in North Kent. including a six screen cinema, 3,500m² (37,674ft²) of using the government’s standard methodology. The high bars, restaurants and shops and a new public square. levels of demand and confidence in the area are evidenced Progress has been made in taking forward private and public The development also proposes 140 new homes and by the rapid sale of new homes once on the market. investment in Dartford town centre. The Dartford Town a 109 bedroom hotel. Provision of a health hub is also Centre Framework was adopted in July 2018. It sets an being progressed. 1 (Elizabeth Line) tube services are due to be expectation for a high standard of development in the town provided to Abbey Wood Station, just 12 minutes train travel centre, identifies improvement projects and provides design Early phases of the 30,000m² (322,917ft²) expansion from . Working in partnership with guidelines for key development sites. The opportunity for of Bluewater Regional Shopping Centre have been , Bexley Council and Kent authorities, around 5,000 new homes in and around the town centre implemented providing larger retail units within the centre. Dartford Council is lobbying to build on this connectivity will significantly increase demand for retail and leisure Extension of the existing cinema complex was completed with the proposed ‘C2E’ rail project. The government has provision locally. Private investment on key sites providing in 2018 providing restaurant facilities (Class A3) and cinema/

24 Kent Property Market Report 2019 family orientated floorspace (Class D1), adding to Bluewater’s summer, centred around the benefits of High Speed One Planning permission has been granted and works are existing leisure offer and helping to maintain its status as one travel out of Ebbsfleet. The business centre also provides underway, for the refurbishment and improvement of the St of the UK’s premier shopping centres. A planning application high quality self -storage options. This represents a £5.4m George’s Shopping Centre in the Western Quarter. The centre for an outdoor adventure centre at Bluewater, including a zip investment in the Borough. is being transformed with new-look entrances, flooring, wire, skydiving machine, aerial trekking course, giant swing seating, lighting, décor, branding and signage throughout. and climbing wall, is currently under consideration. In June 2018 Gravesham Borough Council and the REEF This will ensure that the centre is more welcoming and Group signed a new deal on the multi-million pound mixed- attractive to shoppers and retailers, increasing footfall and Outside of the town centre development has continued in use regeneration scheme for two areas in the eastern and enhancing the vitality and viability of both St George’s and the 2019 at The Bridge mixed-use development, St Clements western sides of Gravesend town centre. This exciting town wider town centre. An application for the Eastern Quarter is Lakes housing adjacent to Bluewater, as well as the centre regeneration project will bring new life and activity to expected to be submitted during 2019. residential-led mixed-use developments at Eastern Quarry the centre of Gravesend. New shops and office space will be and Ebbsfleet Green in Ebbsfleet. created across two sites close to the High Street, as well as Quinn Estates have purchased Clifton Slipways on the banks a new cinema and hotel. The development will also include of the and plan to deliver significant new There remains strong economic development interest in new and much needed homes for Gravesend, as well as town centre riverside housing and regenerate the pier for Dartford, with activity continuing on a number of commercial affordable homes, ideal for people looking to live in central employment uses. sites, including at Crossways and The Bridge development Gravesend and who will be able to benefit from this major (both adjacent to Dartford Bridge), Capacity Business Park new investment. For more information: on Bob Dunn Way and Questor Industrial Estate. [email protected]

PHOTO: GRAVESHAM BOROUGH COUNCI For more information: www.discoverdartford.co.uk www.dartford.gov.uk

Gravesham Gravesham is unique with its town centre enjoying an enviable location right on the River Thames. It encompasses exceptional countryside along the yet located in the heart of the Thames Gateway priority area for regeneration.

In conjunction with this setting is the area’s connectivity with direct High Speed One services bringing the town centre just 22 minutes from central London and 17 minutes from Stratford. Gravesend is the closest Kent town to London in terms of journey time, comparable with Underground Zones Three and Four. Investors and developers are continuing to capitalise on the opportunities presented.

Connectivity has been further boosted with new services, easy access to Ebbsfleet International Station and traditional commuter rail routes into London Bridge, Charing Cross, Cannon Street and Victoria. These connections will be further enhanced with Crossrail’s extension to Abbey Wood from late 2020.

Kent Space opened their new showcase ‘easy in/easy out’ serviced office centre at Springhead Enterprise Park in the Proposed improvements to the entrance to St Georges Shopping Centre, Gravesend.

Kent Property Market Report 2019 25 Kent County Council, Medway Council & Kent’s District Council Commentary

Infrastructure and Regeneration Construction will commence in early 2020 and the centre will contributions to be used on a range of schemes to improve Continued be ready to welcome its first tenants in 2022. Situated beside the town centre. Junction 7 of the M20, it will provide 3,437m² (37,000ft2) of flexible office space, facilities and business support for Plans are progressing for the development of five new SMEs operating in the life science, healthcare and med-tech office units at Abbey Court on land off Junction 6 of the sectors. Once completed, it is expected to support around M20. The proposed scheme of 4,600m² (49, 513ft²) will 270 jobs and generate a further £120m of additional gross make a significant contribution to Maidstone’s economy by value added to the local economy over the next decade. delivering an attractive and modern working environment.

A new warehouse development has been completed at Following the success of the £3.5m High Street Maidstone Aylesford Business Park comprising seven trade units to provide redevelopment works completed in 2012/ 2013, the Borough Maidstone is fast-becoming the commercial hub of the space for the industrial and logistics sectors. Situated to the Council has undertaken additional public realm improvements South East and the business capital of Kent. As a pro- north west of Maidstone and adjacent to the M20, the scheme to boost the vitality of other areas. More than £3m has been business local authority, Maidstone Borough Council is offers flexible light industrial and trade warehouse units. invested in Week Street and Gabriel’s Hill/Lower Stone Street committed to supporting numerous developments, from to create a more pedestrian-friendly environment. The offices and industrial units to housing and infrastructure, to Marks & Spencer has signed a lease on its flagship store designs draw upon the rich heritage of Maidstone, including serve the growing economy and transform Maidstone into a at Eclipse Park where 300 jobs will be created at the store a timeline running all the way from Maidstone East Station truly 21st century County Town. at M20 Junction 7. Construction work has already begun to Palace Avenue, marking key points in Maidstone’s history. and the deal agreed with Gallagher Properties will see the Planning permission has been granted for the Council’s new 7,808m² (84,044ft2) store open in 2020. In addition, Improvements to Maidstone East station will soon allow proposed Innovation Centre at Kent Medical Campus. the development will also unlock Section 106 developer passengers to benefit from improved cycle parking facilities,

PHOTO: MAIDSTONE BOROUGH COUNCIL as part of a £330,000 project to encourage rail commuters to incorporate cycling into their journey. Additional cycle parking spaces have been installed as part of a new cycle hub, as well as CCTV, lighting and repair stands. Pedestrian links between the station and the town centre will also be improved as part of the redevelopment of the station’s forecourt. Kent County Council is delivering a project to link the station forecourt to Week Street and extend the recent improvements to the town’s public realm.

The council has completed the regeneration of Lenworth House, transforming the disused Georgian property into 14 new apartments as part of its commitment to deliver high- quality housing. A significant project for the council, the project delivers town centre regeneration and much-needed housing. The apartments have proved extremely popular and all the units have been let.

Maidstone is open for business and continues to attract significant investment thanks to its growing reputation as a thriving business destination that offers leisure and lifestyle opportunities.

For more information: Proposal for Kent Medical Campus Innovation Centre. www.businessinmaidstone.co.uk

26 Kent Property Market Report 2019 PHOTO: MEDWAY COUNCIL MEDWAY PHOTO: with potential for premium housing, offering fantastic views of Rochester’s Castle and Cathedral and access to the River Medway. All flood defence works for the Civic site, including land raising were completed in June and delivered ahead of schedule. Marketing for the site is planned for September.

Bardell Wharf Bardell Wharf, a Quinn Estates development, will deliver 121 one-bedroom and 210 two-bedroom apartments, enjoying stunning views of the river and along the rooftops of the historic High Street to Rochester Cathedral. Of the 331 residential units, 223 will have their own private terraces. Thirty-five apartments will support affordable housing needs in Medway.

Located less than 350 metres from Rochester train station, sustainability runs throughout the scheme with a number of steps taken to reduce reliance on the car as the primary mode of transport for its future residents, including provision of cycle spaces and an innovative car club scheme. There will also be significantly improved public realm and a new pedestrian crossing over Corporation Street. Bardell Wharf, developed in partnership with Classicus Estates, will also deliver over 1,852m2 (20,000ft2) of retail, professional services, food and new leisure space. This new commercial Proposal for Innovation Park Medway, runway view. quarter will complement the existing town centre offer, acting as a catalyst for further investment and regeneration.

Medway Council and Tonbridge & Malling District Council have also ESTATES QUINN PHOTO: Innovation Park Medway developed draft Local Development Orders (LDOs) which Innovation Park Medway (IPM) was formally launched will offer streamlined planning for businesses that locate to on 18th September 2018 in conjunction with public the site. These draft LDOs were taken to consultation in June consultation on a new draft masterplan for the and, subject to consultation, it is intended that approval to redevelopment of Rochester Airport. The masterplan was adopt these LDOs will be sought in late 2019. Innovation Park subsequently adopted by Medway Council in March and Medway was awarded £4.4m from the Local Growth Fund in Tonbridge & Malling Borough Council in June, subject to 2016 for improvements to airport infrastructure. The second Highways England. The IPM will offer circa 100,000m² (over runway will then close releasing valuable commercial 1 million ft2) of high quality, innovative commercial space development land. A further award of £3.7m has also been in a prime location near Junction 3 of the M2. It will attract made through the Local Growth Fund for access roads and high value, knowledge-intensive businesses looking to utilities infrastructure on the first phase of the site, with a grow and benefit from access to world-class research and further allocation for £1.5m to deliver the second phase development and highly skilled talent through the cluster of Kent and Medway based universities. Civic Site Civic site flood defence works were awarded £3.5m The first occupant at IPM – the Kent, & Sussex Air investment from the Local Growth Fund. Flood protection Ambulance – have developed a brand-new headquarters will enable redevelopment to transform the area into a using a state-of-the art modular build system. Medway prime, high quality residential-led mixed-use development Proposal for Bardell Wharf, Rochester.

Kent Property Market Report 2019 27 Kent County Council, Medway Council & Kent’s District Council Commentary PHOTO: GUY HOLLOWAY ARCHITECTS HOLLOWAY GUY PHOTO: Infrastructure and Regeneration Continued

Medway Development Company Projects Medway Council has bold ambitions to regenerate and revitalise its urban areas and with a substantial land holding, it can positively contribute to this objective. Medway Council has therefore created Medway Development Company Ltd. to deliver high quality developments and support its regeneration initiatives.

Chatham Waterfront Planning permission has been granted to develop a high- quality, mixed-use development at the Chatham Waterfront site which will act as a driver for further regeneration in the area. The plans include 175 new homes, new commercial spaces for cafés, restaurants and offices alongside a new public realm to create a vibrant centre for Chatham.

Rochester Riverside Proposal for Chatham Waterfront. Following the start of construction last year, Rochester Riverside, Countryside and Hyde Housing Association’s public, while construction on the Rochester Riverside primary ensure that Chatham Waters not only complements but £419m regeneration scheme on the banks of the River school is expected to begin later this year. enhances the surrounding area. Medway is making swift progress, with the first residents having moved in during June 2019. A previously brownfield Chatham Waters Peel L&P’s PRS (private rented sector) apartment scheme site, this exciting new riverside destination will provide 1,400 A unique waterfront location on the site of a former historic is currently on site, forward funded by private equity firm new homes, with 25% affordable, when fully complete in naval dockyard in Kent, Peel Land & Property’s Chatham Long Harbour, comprising 193 one, two and three-bedroom 2030. With the marketing suite, show flat and two show Waters boasts unparalleled views across the Medway Estuary apartments over two interconnected blocks and linked houses now open, sales are progressing strongly on the but with just a 40-minute commute into Central London. by ground floor retail units on the waterfront boulevard. remaining homes in the first phases of the development. Consisting of residential, commercial, retail, leisure and In the open market sale by X1 Developments, 199 Rochester Riverside is also providing a range of community education, the dynamic 10.5ha (26-acre) destination apartments overlooking the Medway Estuary, topped out in facilities, including a new primary school, retail space, a hotel includes a University Technical College, Marston’s family August 2019. and over ten acres of green, open space, helping to create a restaurant, Asda Superstore, plus green spaces and walkways sustainable community at this landmark new development. where people can relax, socialise and unwind. The scheme has the potential to deliver circa 1.9 million ft2 These amenities are progressing quickly, with the new of floorspace which is similar to the scale of Peel L&P’s Travelodge hotel expected to complete in autumn and the The £650m Chatham Waters masterplan has been carefully MediaCityUK development in Salford Quays. first commercial occupiers, a high-street food retailer and planned to ensure that the regeneration of this former coffee shop, moving into their premises in late autumn. brownfield site delivers a truly inspirational new destination. For more information: The newly regenerated salt marsh creek is now open to the Peel L&P have worked closely with Medway Council to www.medway.gov.uk

28 Kent Property Market Report 2019 Swale The Dockyard Preservation Trust has also Alongside the success of the Neatscourt employment Incorporating Sittingbourne, the Isle of Sheppey and successfully secured £4.2m from the National Lottery development, the wider and Rushenden Faversham, the past year has been one largely of Heritage Fund to create a new enterprise centre, which Regeneration Project has seen the continued build out of the consolidation for Swale, with established employment sites will be run in partnership with the Kent Youth Support Trust. first phase of housing. Future phases will now be supported and major projects progressing and coming to fruition. The project to restore the Grade II* listed Dockyard Church by the injection of £5.1m from the Housing Infrastructure also includes the conservation and installation of a historic Fund, which will help with site remediation, assist with Swale has continued to see a steady stream of investment, model of the dockyard, a community café and event space viability and accelerate delivery. leading the way in the delivery of new commercial, and in for hire. particular industrial, space. ALDI has opened its new 61,316m² Major mixed-use developments in Faversham are also (660,000ft²) Regional Distribution Centre in Queenborough, As part of its 20-year masterplan for the Port of Sheerness, underway, at Perry Court and at Love Lane. Initial phases of creating 400 new jobs. Eurolink, driven by Trenport Peel Ports has completed the first round of a multi-million- housing are now being built and marketed, with associated Investments, continues to be a major focus for businesses, both pound investment, with £27m spent at the Wellmarsh site employment development to follow. Both sites are well small and large. Whilst availability remains on the latest, fifth on the Isle of Sheppey. The site includes 9.3ha (23 acres) of located in relation to the strategic road network, close to phase of Eurolink, the past year has seen a number of significant car storage and 10.11ha (25 acres) of timber storage facilities. Junctions 6 and 7 of the M2 respectively. With interest in both owner-occupiers secure planning approvals for bespoke The investment has helped to position Sheerness as an opportunities it is anticipated that the coming year will see the facilities, with construction now well advanced. Elsewhere, industry leader for bulk timber products and the largest commercial elements of these schemes come forward. on what has become one of Kent’s largest concentrations terminal of its type in the UK, handling 1.3m tonnes of timber of business, established occupiers are expanding and there and forest products each year. The Royal Bridge Pontoon The regeneration of Sittingbourne Town Centre continues remains a steady interest in available premises. has been replaced with a new larger ramp at a cost of £5.5m apace, bringing improved retail and leisure offers to the to enable larger stern Ro-Ro vessels to berth at the port. area. The multi-storey car park is nearing completion and There is also a growing interest from developers in new will open in 2019 and the surrounding road layout has been speculative development at Eurolink but also across the Kent Science Park has seen ongoing investment at the site, remodelled. Construction is now well advanced on the Borough, reflecting the limited supply relative to demand with the opening of the The HUB, a communal building leisure quarter, Bourne Place, which will include restaurants, and the success of recently completed small unit schemes. providing new cafeteria and conference facilities for its a hotel and a seven-screen cinema. Lounges and Creams Planning permission has already been secured for an tenants. The £2m project officially opened in March 2019 have recently been announced as the latest tenants to join extension to the successful 17,651m² (190,000ft²) Eurocentre and provides a new management suite, catering and flexible Nando’s, Pizza Express, the Light Cinema and Travelodge. Business Park at Faversham by GW Holdings, providing nine meeting space which can be configured to provide one, The leisure quarter is expected to fully open in 2020. additional small units, with current applications for other two or three meeting rooms with full AV connectivity, schemes on the Isle of Sheppey and at Sittingbourne. accommodating up to 170 people in theatre-style seating. With Swale Borough Council and Kent County Council

PHOTO: SWALE BOROUGH COUNCIL working closely, there has been some focus on delivering major infrastructure upgrades for the Borough. Bids to improve the main gateway infrastructure to Sittingbourne at Grovehurst and the Key Street Roundabouts on the A249 have been submitted, with the outcome to be known late in 2019. Highways England has also published orders which mark the final stage of consultation on their proposals to improve Junction 5 of the M2. The scheme will include a new flyover and will create an uninterrupted link for drivers travelling on the A249. Construction is expected to begin in March 2020.

For more information: www.swalemeansbusiness.co.uk

New premises for Cook Food at the Eurolink East V Business Park, Sittingbourne.

Kent Property Market Report 2019 29 Kent County Council, Medway Council & Kent’s District Council Commentary

Infrastructure and Regeneration visitors and supporting many local businesses and their staff. in order to meet the needs of the borough for the period up Continued This has included provision of 10 luxury town houses and to 2031. Having undertaken a Regulation 19 consultation in associated public realm and environmental works. 2018, the council submitted a new Local Plan to the Secretary The council has also developed a new 83 bedroom Premier of State in January 2019, with adoption planned for 2020. Inn adjacent to Sevenoaks train station which continues to support businesses as well as visitors to the town. Strategic Sites During 2018/19, there has been progress on a number of key New retail developments have taken place in Edenbridge investments and sites: and Otford Road, Sevenoaks as well as at the business park on Moor Road. At Fort Halstead, the owners, Merseyside Borough Green Gardens is one of 19 Garden Villages to West Kent Pension Fund, have submitted a new planning application be selected onto the Garden Communities Programme for employment led redevelopment of the site. following a successful bid in November 2018. With £150,000 Sevenoaks awarded to help fund the project, the money will be used to is attractive to residents, employers and As part of the council’s commitment to sustainable facilitate delivery of high quality housing, which members visitors, with excellent connectivity and attractive countryside. development, plans are due to be submitted in November of the local community can access. This will be enabled The Council’s ambition is to build on strong economic for a key site in the centre of Swanley. This will include a through support from Homes England on design and performance whilst leaving a positive legacy through growth. business hub and provide key development in the town. delivery, developing infrastructure proposals and working In addition, the council will be supporting improvements towards a masterplan that clearly demonstrates how a new The Council’s plans and strategies reinforce this approach. to Swanley train station from where it is possible to access Garden Community will operate. Phase one of the project The Council Plan and Economic Development Strategy London within 35 minutes. This commitment to market town is likely to start in 2022/23 with 1,720 properties potentially reflect the priorities in regenerating the area’s market regeneration will also see the replacement of White Oak completed by 2031. Borough Green Gardens will not only towns, building on unique locations and encouraging the Leisure Centre in Swanley, with an attractive new facility for provide new homes, but also opportunities for employment, diversity of independent retailers. By enhancing rural and the local community, employees and businesses. education and healthcare as well as the necessary visitor economies the aim is to create a sustainable model infrastructure to meet the needs of the wider area. to encourage visitors, residents and businesses to make the Also in Swanley town centre, developers U+I have received most of the area’s heritage and location. Making better use approval for a scheme which will include over 300 new At Kings Hill, Countryside Properties are currently on site of existing sites and redeveloping previously used land will homes and 400m² of commercial and retail space. creating a new development of 635 homes, a new primary provide opportunities for growth and development whilst school and parklands. Like the rest of Kings Hill, this new protecting the countryside. The preparation of the new Local Plan has brought forward development will be of a high quality, having been designed a range of potential developments which will provide through the application of a ‘landscape first’ strategy and The Council also wants to continue to support and grow local additional future capacity for business and employment extensive local consultation. businesses through the ‘Team Around Your Business’ model. growth in the District. This provides exceptional customer service and a single Peter’s Village is an all-new 1,000-home rural community point of contact to our business customers via the Council’s For more information: between the River Medway and Kent Downs, with excellent Economic Development staff who are able to support www.sevenoaks.gov.uk/business links to the M2, M20 and M25, plus High Speed One as well businesses to locate and grow within Sevenoaks District. as coach options for London commuting. Connectivity Tonbridge & Malling for jobs, education and leisure have been enhanced by the The examination of the new Local Plan for the period to The borough of Tonbridge and Malling continues to see specially built Peters Bridge over the Medway. Maidstone, 2035 is taking place this autumn with formal adoption strong levels of growth taking place with over 1000 new Tunbridge Wells/Tonbridge, the Medway Towns and the expected in 2020. The new Local Plan will create the homes completed and a number of impressive new Bluewater Shopping Centre are all easily accessible. On the framework to enable the delivery of the Council’s priorities. commercial developments were constructed during 2018/19. site of a former Victorian cement works and quarries, yet home to rare flora and fauna, both heritages were embraced As part of market town regeneration the council has created Development is progressing well at a range of strategic sites, by developer Trenport, which has funded a SSSI (Site of the Sevenoaks town centre multi-storey car park. This such as Peter’s Village and Phase 3 of Kings Hill to provide a Special Scientific Interest) heritage trail and bespoke public development has provided an additional 200 spaces in the stream of new homes over the next 5-10 years. In addition art – a huge steel industry and wildlife sculpture welcomes centre of Sevenoaks creating ample parking for residents, the council is pressing ahead with the allocation of new sites visitors. Trenport has set the tone for quality apartment

30 Kent Property Market Report 2019 PHOTO: COMMISSION AIR LTD (57,049ft²) of glasshouses and 2,290m² (24,650ft²) of supporting facilities. The initial building phase will begin immediately with subsequent phases as funding permits.

Town Centres Tonbridge town centre continues to see considerable public and private investment. Following on from extensive public realm improvements along the High Street, River Walk, Tonbridge Town Lock and most recently around Tonbridge Station, work is soon to commence on the delivery of a new cycle hub. Key town centre projects have also made substantial progress over the past 12 months, including a new medical centre currently under construction on River Lawn Road. Once built, this facility will provide a purpose- built centre that includes consulting rooms, minor surgery room, pharmacy and well-being clinic.

In March 2019, the council launched a Shopfront Improvement Grant Scheme to support independent retailers and food outlets within the borough’s towns and district centres. Take up has so far been strong with 10 grants awarded for a variety of improvements with many more applications in the pipeline.

Infrastructure Further improving the local infrastructure, the work of the West Kent Partnership and the Kent and Medway Economic Partnership have helped to secure Local Growth Fund Aerial image of Kings Hill new homes and public park 2019. investment towards a number of schemes, including: •Increasing the capacity of the Leigh Flood Storage Area and and house design, all constructed by award-winning Grade I listed Bradbourne House and the science campus. Hildenborough Embankments Scheme – giving greater housebuilders. This is complemented by a new school and In 2016, the EMR Research Station became NIAB EMR, part protection to existing homes and commercial premises as village centre hall, shops and other facilities, all served by of the NIAB Group the largest UK institute specialising in well as opportunities for sustainable growth. eco-friendly walk, bridleway and cycle networks. fruit with particular emphasis on perennial and clonally- •Improvements to Junction 4 of the M20 propagated crop production. Their global reputation •Improvements to Snodland and Tonbridge Stations. At the former Aylesford Newsprint site demolition work has and the increasing focus on climate and agri-security now been completed, with a fresh planning application for creates opportunities to attract younger generations into Work is now also underway on the M20 corridor, between commercial uses scheduled to be submitted to the Borough horticultural research. Junctions 3 and 5. This 6.5 mile stretch is being upgraded to Council during 2019. an All-Lane Running (ALR) smart motorway and is scheduled As a first phase of the new East Malling Advanced to be completed by March 2020. The East Malling Research (EMR) campus began in 1913 Technology Horticulture Zone, there are proposals to as a horticultural research station. Important research on develop a series of advanced technology glasshouses and For more information: perennial crops has resulted in a world-wide reputation support buildings to facilitate efforts into the production and [email protected] for plant raising, fruit plant culture/breeding, fruit storage propagation of existing fruit research, accommodate new and the biology and control of pests and diseases. The East research and ultimately replace their existing glasshouse Malling Trust own and manage the estate that includes the stock. Planning approval is being sought for circa 5,300m²

Kent Property Market Report 2019 31 Kent County Council, Medway Council & Kent’s District Council Commentary

Infrastructure and Regeneration Tunbridge Wells The Borough Council and Kent County Council are working Continued Work is underway on the new Local Plan for Tunbridge Wells together to redevelop the existing museum, library and adult which will allocate land for approximately 13,500 homes education centre in as the Amelia and between 4.45 and 5.66ha (11 to 14acres) of employment Centre for Culture & Learning. Services are being decanted space across the Borough. Public consultation on the Draft from the building, with reduced services to be delivered from Plan began in September and is due to be submitted at the temporary locations in the town centre including the Royal end of 2020. This Local Plan will guide development in the Victoria Place Shopping Centre and the Corn Exchange. Borough until 2036. Completion of the redevelopment is scheduled for 2021. It was decided at Full Council meeting on 8 October not to progress

PHOTO: ELYSIAN RESIDENCES the Calverley Square proposals in Royal Tunbridge Wells.

Funded through the Local Growth Fund, public realm improvements are underway for Mount Pleasant Road in Royal Tunbridge Wells, between the junctions of Monson Road and Church Road. The works include enhancements to Civic Way, improving the setting of the War Memorial and the introduction of vehicle movement restrictions as well as improved pedestrian and cycling facilities. Vehicle access through this area will be limited to buses and taxis only between 9am and 6pm and with a 20mph speed restriction. Kent County Council is managing the works on behalf of the council due for completion in autumn 2019.

The former cinema site in central Royal Tunbridge Wells is subject to a new planning application which seeks consent for alterations to a previously approved development, including residential and commercial uses. The application is due to be determined at Planning Committee in Autumn 2019.

Work on the conversion of Merevale House in London Road, Royal Tunbridge Wells, to a 110-bed Premier Inn Hotel is nearing completion, with an expected opening date in November this year.

Royal Victoria Place shopping centre has announced that the Ely Court area of the centre will be opening as a new street food and entertainment market, comprising dining, cinema and live music. This is scheduled to open in late 2019. British Land has also announced that they will be investing £11m to renovate the existing centre, with completion of the works scheduled for summer 2020. The Corn Exchange in in Royal Tunbridge Wells is set to become 17 suites of flexible serviced office accommodation. Refurbishment work is nearing completion on site and the offices will become available Proposal for Tunbridge Wells former cinema site, later in 2019. Demolition of the Union House office

32 Kent Property Market Report 2019 accommodation in the Pantiles has been completed and the its Local Plan. The aim is to help developers, residents and The expansion brings 500 jobs and 50 new fashion, food site is under construction for 127 new residential apartments, businesses reap the benefits of broadband. and homeware brands, a new food piazza and a redesigned, community and commercial space to form 1887 The interactive children’s play area to complement the retail offer Pantiles. Completion is due in Summer 2020. The pace of economic growth is accelerating in Ashford in Ashford’s town centre. – Kent’s number one business location. When the council Major housing developments are also underway in acquired International House and sites adjoining the Nearby is the former Ashford Railway Works, where Hawkenbury (east of Royal Tunbridge Wells) and in Paddock International Station in 2014, it created the Commercial developer Quinn Estates intends to transform the 8.09ha Wood. Work has commenced on site for the first phase of Quarter. This key business hub is located 38 minutes from (20acre) site by adding film and TV studios, a 180 bedroom the Hawkenbury Farm development. In addition, there is London, with direct connections to Europe’s major cities hotel, office space and apartments. Quinn has teamed currently an application pending to provide an additional 8 via . Connect 38, the largest office block to be built up with The Creative District Improvement Company to homes which would result in a total of 243 homes. Work is in Kent for 20 years, opened in the Commercial Quarter manage the site and is reported to be negotiating with a progressing at Mascalls Court Farm in Paddock Wood. In in summer 2018. Constructed by Quinn Estates, working number of potential global entertainment giants about October 2018, planning permission was granted for 309 alongside George Wilson Holdings, the 80,500 sq ft office taking space, including streaming firm Netflix. An application homes. Berkeley Homes will also be submitting an application block has now attracted blue chip companies PageSuite, was submitted in October. for the delivery of an additional 113 new homes. Towergate Insurance, MLM Group and Wilkins Kennedy. Following a ballot in late 2018, Royal Tunbridge Wells Business BizSpace, the UK’s largest provider of flexible workspace, is Improvement District (BID) was officially launched in April Next door is the council-owned Coachworks, which opened behind plans to add additional commercial accommodation 2019. Over a five-year period the BID will be working to deliver in autumn 2019. These disused industrial buildings have been at Eureka Park, close to J9 of the M20. This is in response to initiatives under the priority themes, identified by businesses transformed into an exciting mixed-use campus providing demand for high-quality office space in key locations along and set out in the BID’s Business Plan: Business Support, co-working space aimed at start-up firms, an event space the M20 corridor in Kent. Events, Promotion & Marketing and Parking & Accessibility. and a food and drink destination. Award-winning London architect Carl Turner (Pop Brixton and Peckham Levels) is Ashford Borough Council’s approach is a key driver in this The council and Kent County Council are continuing to work retained to transform and run the site. landscape of investment and business confidence, with the on projects to improve cycle infrastructure. Phase 1 of the ‘AshfordFor’ inward investment campaign succeeding in improvements to the A26 route between Tonbridge and The town centre Elwick Place cinema and leisure complex stimulating interest and attracting investors (www.ashfordfor. Royal Tunbridge Wells was completed in 2018 and work is has been opening in phases since December 2018, with a com). The council’s expansion of its property portfolio is progressing to make improvements to the 21st Century Way mix of restaurant and other tenants taking space in a 9,290m² focused on boosting the availability of new commercial route between Royal Tunbridge Wells town centre and the (100,000ft²) scheme owned and funded by the council. and industrial space. In 2018 the council signed a deal with North Farm Estate. Built by Stanhope PLC and anchored by a Picturehouse Gallagher Properties to build a 28-unit business park in cinema and a Travelodge, other tenants include food and Carlton Road. For more information: drink specialist Macknade and the UK’s first Dansaki Afro- [email protected] Caribbean restaurant. New housing schemes are providing high quality homes for Ashford’s fast-growing population. The Borough’s A host of developments are transforming Victoria Way, population is due to rise from 128,000 to 150,000 by 2030 East Kent including a newly-opened craft brewery and visitor centre which is reflected in the recently adopted Local Plan. from Curious Drinks Limited, the beer and cider subsidiary of Ashford Chapel Down winery. The company’s investment is enabling Modelled on garden city principles, the 5,750-home The Borough Council has officially adopted its Local Plan to it to grow its domestic and international distribution. Also on development at Chilmington Green is coming forward over 2030 which outlines key development to deliver strategic Victoria Way, construction is progressing at Victoria Point, the next 20 years, with the first phase of homes now on the residential and employment sites. It aims to deliver over where a 120 bedroom hotel, 216 apartments and three retail market. The scheme will include four new primary schools, 13,000 homes and 63 hectares of new employment land units are taking shape. This follows the opening of a 1,719m² one secondary school, plus retail and commercial space in a linked to the creation of 11,100 jobs. (18,500ft²) ALDI superstore in autumn 2018. To the east of leafy setting. Victoria Way the McArthurGlen Designer Outlet, Ashford, is Ashford is one of the first councils nationally to take a proudly showing off its newly-opened 9,290m² (100,000ft²) The first residents are moving into Riverside Park, built by proactive approach to facilitating the installation of optical extension, the result of a £90m investment by McArthurGlen, developer GRE Assets on a former Powergen site in Victoria fibre broadband to the premises with a dedicated policy in Europe’s leading owner and manager of designer outlets. Way. Work started on delivering 246 apartments and 26

Kent Property Market Report 2019 33 Kent County Council, Medway Council & Kent’s District Council Commentary

Infrastructure and Regeneration Canterbury Hampton by Hilton, which is part of the Hilton Worldwide Continued In Canterbury the City Council continues to work with group. Alongside this, a new luxury 28 bedroom hotel and partners Linkcity to progress The Riverside mixed-use restaurant opened on the outskirts of Canterbury this spring scheme, further regenerating the Kingsmead area of the in the village of Bridge. The Home Grown Hotels chain city. In November 2018 Councillors agreed to invest £23m launched the Pig Hotel in the 16th century manor house in the project which will see the council retain ownership formerly known as Bridge Place Country Club. This site was of the cinema, restaurants, car park, the public square and selected as part of a £30m expansion plan to add three new entertainment area. Following this investment, further deals boutique, quintessentially British hotels to their portfolio. have been signed with The Hyde Group, who will deliver 189 affordable homes across the scheme and Curzon, who will In the seaside town of Herne Bay the council is progressing town-houses in spring 2017. ’s award- operate the five-screen cinema. Construction is expected to its £5.9m Beach Street project to transform two former winning Finberry scheme, a 1,100 home community on start on site this autumn, with completion of the commercial council-owned car parks and a number of disused and the south-eastern outskirts of Ashford, is recognised as a component due in summer 2021. derelict buildings into a new residential and commercial quality development, with a primary school, health centre complex. The scheme was granted permission in May 2019 and community facilities adding to the village feel of the Work has also begun on the former Slatters Hotel with work expected to start in early 2020 and finish in late development. redevelopment to deliver a high quality 131 bedroom 2022. As well as providing 33 new residential properties, retail hotel, retail units and roof-top destination restaurant in units and artists’ studio spaces in the heart of the town, the The Clarion Housing Group is building 300 lakeside homes the city centre for completion in autumn 2020. Following project will also enable people to move more easily between at Conningbrook, alongside a family country park benefiting interest from six hotel chains the site has been taken up by the seafront and shops, cafés and other amenities in the

from a watersports centre. ARCHITECTS CLAGUE PHOTO:

Planning consent has been granted for the Kent Wool Growers site in Tannery Lane in Ashford town centre for a mixed-use development of homes, public realm and a riverside walkway. The proposals by U+I Group Plc will see 243 one, two and three bed apartments across four buildings between six and 14 storeys high.

The new £104m J10a on the M20 has been built south east of the existing J10 and will be a catalyst for further economic and commercial development. The new junction, the third to serve Ashford, is due to open in late 2019. This new junction will serve a number of nearby developments, including the 140 acre Waterbrook Park. The GSE Group’s masterplan includes 400 homes, new commercial space creating nearly 1,000 jobs, shops, restaurants and parkland. The expanded Ashford International Truckstop is taking shape, with owners GSE saying the work will double the capacity of the existing truckstop to 600 HGV places. Adjoining J10a is MOJO, a greenfield site of around 111,484m² (1.2m ft² ) with planning consent for storage and distribution. This is being marketed as a development opportunity ideally located for import and export with superb onward links to the rest of the UK.

For more information: www.ashfordfor.com Proposal for Guildhall Quarter, Canterbury.

34 Kent Property Market Report 2019 PHOTO: LINK CITY LINK PHOTO: town centre. Also in Herne Bay the council is refurbishing its former Wimereux Square based District Office building into a new business hub. Part financed by a grant from the Government’s Coastal Communities Fund the Neptune Co-Working Project will provide co-working office, training, meeting and studio space for local start-up and existing creative businesses. The project aims to diversify the town’s largely tourism-based economy and open this autumn.

Finally, Canterbury is well known as a centre of knowledge and education with its four universities and many other skills and training providers. This reputation will be expanded further with major new investment over the next few years by University of Kent and Canterbury Christ Church University. A particular highlight will be the Kent and Medway Medical School (KMMS) and the universities are currently preparing for the first intake of students from September 2020. With both universities incorporating new facilities into their campus masterplans KMMS students will be able to study in state-of-the-art buildings on both Canterbury campuses.

In March 2019 the council granted planning permission for a new 2,366m² (25,467ft²) three-storey facility at the University of Kent’s Canterbury campus. Planned for completion in August 2020 this £10m project will contain purpose-built accommodation to provide a modern environment for medical students and academics to learn and conduct research. It will house a 150-seat lecture theatre, seminar rooms, GP simulation suite, study spaces and offices for the KMMS.

On Canterbury Christ Church University’s campus in the city, the former Canterbury Prison site is due to open to students in 2020. Here students will be able to learn anatomy and physiology in a modern, well-equipped Anatomy Learning Centre complete with clinical skills facilities and simulation suites. Included as part of a major new facility for science, engineering, health and medicine, this resource will be complemented by an engineering and design makers space, ICT facilities, study areas and conference and meeting rooms.

For more information: www.canterbury.gov.uk

Proposal for Canterbury Riverside from riverfront.

Kent Property Market Report 2019 35 Kent County Council, Medway Council & Kent’s District Council Commentary

Infrastructure and Regeneration Discovery Park in Sandwich continues to bring major to support the development of a Bus Rapid Transfer System Continued investment to the district with Pfizer continuing its between Whitfield, Dover town centre and Dover Priory commitment to the UK life sciences sector by announcing station. a £5m investment. An additional £5m of funding has been unlocked from Kent County Council via the East Kent Legal & General’s £53m St James Development is open in Growth Fund established to help investors grow businesses the heart of Dover town centre, with a range of top names in and create new jobs. retail and leisure.

Dover District is extremely popular as a great place to live, Council has launched a Town Centre Business work and play. The District continues to see significant Grant Scheme, which offers grant of up to £10,000 to housing growth. The Council is in the process of producing bring commercial properties back into use, or up to £1,000 Dover a new Local Plan which will include policies to guide new to upgrade or improve the appearance of commercial Dover District is open for business with multi-million pound development to 2038. Consultation on the draft plan is properties. It applies to designated areas in Dover, Deal and investments in town centre and waterfront regeneration, planned for early 2020. Sandwich. new commercial, retail and leisure spaces, and will host one of the world’s biggest golf championships, The Open at the Whitfield Urban Expansion continues to progress with the The new £26m Dover District Leisure Centre opened in early Royal St Georges course in Sandwich in 2020. Aylesham Garden Village, alongside continued growth 2019. The centre features the first swimming pool in Kent to across the district. The District Council has been awarded be purpose-built to Sport England specifications for a county Dover is just 21 miles from Calais and is a vital international funding from the Government’s Housing Infrastructure Fund standard competition pool. The learner pool has a moveable

gateway. Combine this with excellent links to central KENT IN LOCATE PHOTO: London – just an hour from Dover by High Speed One – nowhere is better connected for doing business and for visiting The Open. The district is getting ready for the return of the golf championship next year. Dover District Council, Kent County Council, the Royal & Ancient Golf Club and Royal St George’s are working together to prepare a warm welcome for the championship.

Dover is the UK’s second busiest cruise port and hosts many of the world’s top cruise lines. Cruise ships are already being booked to attend The Open. The new Saga cruise ship, Spirit of Discovery, was officially named by HRH The Duchess of Cornwall in July. Ahead of this, the Port of Dover officially unveiled its new multi-purpose Berth 4, taking a major step towards the full launch of the Dover Western Docks regeneration in 2020. Dover will be the first port-of-call for a new Virgin cruise ship and DFDS has announced a new ship for the English Channel due in 2021.

The Dover Western Docks Revival is well underway, including a new marina pier that is already open. Construction on a transformed waterfront is progressing to attract a range of shops, bars, cafés and restaurants with Dover’s unique backdrop of the harbour, the famous white cliffs and Dover Castle. Discovery Park, Sandwich.

36 Kent Property Market Report 2019 PHOTO: GUY HOLLOWAY ARCHITECTS 37 Kent PropertyKent Market Report 2019 Next year, the Folkestone Triennial Arts will Triennial the Folkestone Festival 2020 Next year, critical Festival The place Folkestone. took to 2017 to return andacclaim encouraged the who area surge a visitors to of encouraged publicwere an of extensive follow tour art to around The the town. harbour restored viaduct has now been more a direct pedestrian re-opened to create route to theHarbour Armits buildings with renovated and eateries. urban sportsThe funded new multi-storey centre the by open due is Roger to inearly De 2020. Haan Charitable Trust It will offer a unique range of sports,boxing, climbing and bouldering, and will add further a including skateboarding,dimension to the offerworld. the in in kind its of thisfirst the also is It part alike. visitors and of the town for residents the visitors extending DistrictFor their has an stay, enviable boutique budget, including accommodation of range and 4-star hotels as Hythe such Imperial and Folkestone’s Burlington. Hampton by Hilton has now been announced by Proposal for multi-storey urban sports centre, Folkestone. sports centre, urban multi-storey for Proposal Media and Progress all ensuring leading is Folkestone the industries tomorrow. of The rebranded expanding is Folkestone recently Creative its business property portfolio Quarter within the Creative industries. This creative digital for space bespoke offer to servicedGlassworksoffering refurbished newly the includes working, flexible for need the meets that space co-working freelancing. and self-employment Folkestone’s regeneration the town to theFolkestone’s from seafront arc progress apace. The to continues Harbour Folkestone centre and Development Seafront Company detailed received planning approval last commence and year to now is set site. on homes first the building The popularity Quarter the of Creative as thriving a hub for businessesstudios and creative has made the key a area and digital thelocation for creative industries, in Kent with companies Sleeping of the like success Giant, Cognitive

PHOTO: BAM CONSTRUCTION

Channel Tunnel. This,Channel Tunnel. combined an attractive with coastal of expectations the surpasses that offer an create location, and businesses. investors many An enterprising district with exciting new developments and morecompleted coming forward. connectivity Excellent Londonto via High Speed One in 54 minutes, motorway as well as direct links continental through with the Europe district’s vision and highlights strengths as place a the area’s invest, work,to live and visit. reputation as destination a and all cultural, for things creative newa place brand and campaign marketing will launch Developed theend at in collaboration 2019. of local with businesses and stakeholders, the new brand articulates the Trendy…cool…up-and-coming…all words used to describe used words to Trendy…cool…up-and-coming…all in run national a of Folkestone media articles this year. Capitalising Hythe’s & on Folkestone trendy identity and Folkestone & Hythe & Folkestone and room. steam information: more For www.investindover.co.uk a four courta sportshall, climbing climb arena, ‘n clip 120 station fitness suite, two multi-activitysquash courts, studios, outdoor spin five-a-side studio, 3G pitches and a sauna floor to vary the depth and both include lifts. facilities Other platform pool-pod pools include and are fully accessible The £26m Dover Leisure Centre opened in early 2019. Kent County Council, Medway Council & Kent’s District Council Commentary

Infrastructure and Regeneration Thanet feel confident about the future of their business (Source: Continued The economy has continued to grow over recent years Thanet’s New Wave). with the district seeing further inward investment, growing numbers of visitors and more people relocating to the area. Margate and Ramsgate have a huge variety of businesses, House prices have increased, with anecdotal evidence freelancers and creative practitioners living and working in suggesting some of this is driven by the London housing the towns. Thanet’s strong appeal to the creative industries, market with people relocating and working closer to home. coupled with its attractive, coastal environment are helping Thanet’s improved connectivity is also driving entrepreneurs to drive the district’s reputation as a location for filming and to set up businesses in the district, not only for the local photoshoots. The combination of visual appeal, proximity, market but nationally and internationally. affordability and creative flair make it an excellent choice Ravensbourne Investments as the 131-bedroom luxury hotel for creative agencies and principal broadcasters when brand coming to the former Silver Spring site. New build housing has continued on some of the key sites contracting for shoots and programme making. There is in the district, adding to the variety of housing on offer in the an opportunity to attract a small cluster of such creative The residential market also remains lively with major area. To bring London closer, and Kent County production companies to Thanet. In the last 12 months, developers including , Pentland Homes and Council and partners are investing in a Parkway Station which household names and high-end brands have used Barratts active in the area. The council is progressing plans will bring the City of London within an hour of Thanet. Thanet’s beaches, bays and towns as a backdrop for their for the development of 10,000 homes at Otterpool Park photoshoots, including Burberry, House of Fraser, Phase Garden Town and a planning application was submitted in The Economic Growth Strategy for Thanet is being reviewed Eight, Primark and Ted Baker. February this year. In March the project received a £1.25m to ensure that the strategic priorities for the district will funding boost from the Ministry of Housing, Communities improve its growth prospects. Working with partners in The tourism and leisure sectors are an integral part of and Local Government as part of a cash injection into 21 new both the public and private sectors will be vital in its delivery. Thanet’s growing economy. Trips to the popular and garden towns and villages across the country. The strategy will help to see that Thanet’s requirements are award-winning seaside resorts of Margate, and understood at a national level. Ramsgate rose 8.6% in 2017 (from 2015). With investment Plans to develop 150 seafront homes and a leisure centre on in a number of large hotels planned in the seaside towns, a brownfield site at Princes Parade in Hythe were approved The council is developing a vision for its main high streets in this trend is set to continue. Thanet’s 19 miles of spectacular in August. The development will comprise 30% affordable order to put proposals forward to government and to work coastline and its cultural offer attracted 4.2 million trips to homes, 1,270m² (13, 670ft²) commercial space, five hectares with the private sector to leverage capital funding. Tourism the area in 2017 which resulted in a 9.2% increase in value of of public open space and a leisure centre with a 25m and the creative industries are important sectors for the the sector to the district (2015-2017). The sector accounts swimming pool and gym. district and will form part of the solution for regenerating for 19% of the total employment across the district. Margate’s town centres. In the face of significant changes in the cultural resurgence has helped regenerate the Old Town The District Council has partnered with Magnox Industries national retail picture, Thanet’s high streets are beginning with an array of independent shops, galleries and eateries as to bring forward the undeveloped employment land at to buck the trend with growth in the independent retail and well as the renowned Turner Contemporary. The gallery is Mountfield Road Industrial Estate in New Romney. A new food and beverage sectors. hosting the Turner Prize from September 2019 with an arts business hub and servicing infrastructure for a further five and cultural festival to complement the awards taking place acres for grow-on space and inward investment has received The appeal of Thanet’s seaside resorts is being rediscovered at venues across Margate. planning permission. Considerable progress is being made and and far beyond the bygone perception of the traditional it is expected to open in spring 2021. Local businesses have British seaside holiday. It is now much broader, attracting Regeneration continues apace in Margate. Dreamland, the been positive suggesting significant demand for the space. businesses and individuals looking to achieve the all- historic amusement park, received significant private sector important, work-life balance, whilst remaining a great investment and re-opened in May 2017 as a major attraction. The attributes of the district are increasingly becoming place to holiday. Those relocating to Thanet realise that As well as being a theme park, Dreamland is also a major recognised – creative, connected and coastal. they can benefit from a coastal location, within easy reach music venue, and events space. Planning permission has of, and travel time to, London, supported by the excellent been granted for a 120-bedroom hotel adjacent to the site. For more information: High Speed One service. Margate is often referred to as www.folkestone.works ‘Shoreditch-on-Sea‘, thanks primarily to the 84% increase in The Dickensian town of Broadstairs, steeped in stories, creative businesses in Thanet (2012-16). Business confidence continues to draw crowds with its famous ‘retro’ ice cream levels are high with 80% of creatives surveyed saying they parlours and attractive cottages adding to its unique and

38 Kent Property Market Report 2019 timeless seaside charm. The only Royal Harbour in Britain, Secretary of State is expected in early 2020. The Thanet the main scheme’s frontage overlooking the western end of Ramsgate is a busy destination containing 700 leisure berths. District Council Local Plan to 2031 is currently being Manston Airport’s runway, are envisaged to produce a major It caters for visiting vessels, as well as those based there reviewed by the . The Plan is expected phased office development. Following the pre-application year-round and is home to a large fishing fleet. Ramsgate is to be adopted in Spring of 2020. process a detailed planning submission is expected shortly. also recognised as one of only ten national Heritage Action This will present an impressive development across the Zones by Historic England and one of two in the South East, For more information: business park site’s entrance, with frontage buildings along acknowledging Ramsgate’s rich historic environment in www.thanet.gov.uk Columbus Avenue and Spitfire Way. Plot 2 is the only supporting economic growth. significant remaining parcel yet to be sold and is not being marketed on the basis of it offering further office campus Manston Business Park which is owned by East Kent East Kent Opportunities (EKO) expansion in the future. Wahl UK has expanded operations at Opportunities, a partnership between Kent County Council EKO is a highly successful property partnership between its 9,011m² (97,000ft²) building on Invicta Way as a result of and Thanet District Council has seen significant business Kent County Council and Thanet District Council. It the company’s growth and workforce expansion. investment with the completion of light industrial units for facilitates and encourages economic growth through sale or rent, creating jobs in the area. Wahl UK has expanded its landownerships and has seen significant business EKO’s ownership of Manston Business Park is not the operations to a 9,011m² (97,000ft²) site at Manston as a result investment with the completion of light industrial units for entire employment land allocation in the Local Plan. of the company’s growth, with the workforce expanding sale or rent, creating significant numbers of jobs in the area. China Gateway International (CGI) own adjacent land that and the new building supporting continued expansion EKO LLP promotes and owns the remaining undeveloped approximately doubles the current Manston Business Park plans. Manston is well connected by dual carriageway to the areas at Manston Business Park and the remaining residual land area, and provides potential for a further 1 million ft² motorway network. land at Eurokent, Ramsgate. of business space. This is likely to be smaller space for the SME market rather than large-scale manufacturing. This For logistics companies and multinationals, the Port of Manston Business Park land area is not being openly marketed/promoted, although Ramsgate is the second closest UK port to mainland Europe. The park enjoys excellent access to The Thanet Way and there has been developer interest in its acquisition. The CGI A dedicated £30m tunnel and approach road bypasses the onto the motorway network. With the success of EKO’s land requires service provision and/or highway and access town and provides unimpeded access for customers and calibrated land disposal programme, which includes a arrangements and additional investment would be needed freight. The demand for road goods vehicles crossing the partnering approach to facilitate economic development to bring this forward for future development. English Channel is expected to increase from 3.17 million and a measured phased approach to development delivery, in 2015 to 4.6 million by 2035. The excellent road links and Manston Business Park has seen significant progress in Eurokent short sea crossing times mean Ramsgate is ideally located to the past five years. This includes the continued expansion EKO has exchanged contracts with Kentish Projects on meet this rising demand for freight traffic and provide much of The Maples Business Park, a successful concept by Plot 2, also known as the Trapezium at Ozengell Place. needed resilience for the cross-channel freight network. Manyweathers Properties and extended across from the The transaction is subject to detailed planning and is for original scheme, The Oaks. 38 modular homes, as an exemplar affordable modular A proposed new dual carriageway to Thanet, the A28 housing scheme. Consent is expected from the District Birchington, Acol and Westgate-on-Sea Relief Road is in The phased expansion of Maple Leaf by Manyweathers Council by autumn 2019. Plot 3 has also been exchanged the ‘top ten’ list of high-priority road improvement schemes Properties has generally exceeded expectations and the and a mix of commercial uses are proposed with planning which has been submitted to government. It is part of a company are continuing to progress with the development. discussions ongoing. The remaining parts of Eurokent have £3.5bn, five-year investment programme which aims to Over 200 individual units have been delivered/completed outline planning permission and a master plan identifies cut congestion, speed up journeys and support economic on site and are selling/letting rapidly in what is otherwise a primarily residential development which will front on to growth across the South East. It was agreed and submitted difficult economic climate. The scheme’s success reflects New Haine Road. Homes England acquired the 13.35ha by Transport for the South East (TfSE), a new regional body the substantial personal investment in the sites bought so far. (33 acres) of the residential component of the site from East which brings together local authorities, business groups and Kent Opportunities and Rosefarm Estates in March 2017 and the transport industry to speak with one voice on the region’s EKO LLP has currently agreed terms on nine separate plot is now looking to dispose of their interest to a residential transport needs. sales at Manston Business Park. These include a variety developer. Further information is expected from Homes of new headquarter developments for SME’s. The park England in the autumn. The owners of the land at Manston Airport have submitted welcomed Robbie Toys Ltd and Groundwork Solutions a Development Consent Order application which is under Ltd , both having acquired land for expansion of respective examination by the Examining Authority. A decision by the operations in August 2019. Plots 1a, 1b and 1c, which form

Kent Property Market Report 2019 39 Kent County Council, Medway Council & Kent’s District Council Commentary

Infrastructure and Regeneration Housing Delivery Test (HDT) Social Rent Continued In February 2019, the first annual HDT results for councils In June 2018 Government confirmed a total additional were published by the Ministry of Housing, Communities budget for Homes England of £1.67bn to deliver Social and Local Government based on the calculation: Rent in areas of high need, as well as tenures currently available through Shared Ownership and Affordable Homes (Total net homes delivered Programme (SOAHP). over three year period.) Housing Delivery Test (%) (Total number of homes An addendum to the SOAHP Prospectus has been published required over three year period.) which provides a list of eligible areas including Kent.

Housing Local Authorities are required to take specific action The Prospectus remains the key document for SOAHP 2016 depending upon the result of their HDT calculation and to 2021: its content stands unless explicitly amended (such as Housing Market until subsequent HDT results are published or new housing the January 2017 Addendum), and providers should ensure There were 24,473 property transactions in Kent (KCC requirements are adopted: that they read the Prospectus alongside both Addendums area) during the calendar year 2018, and a further 3,951 in and the Capital Funding Guide Bidding is through the Medway Unitary area. These figures are slightly lower •Pass (95%): No action required. Continuous Market Engagement. than the previous year by -7.8% and -9.0% respectively. This pattern follows a general trend for slower sales during •Action Plan (>85%): LAs prepare an action plan identifying Housing Infrastructure Fund (HIF) 2018. Transactions in England & Wales were down by -1.8% causes of under delivery and actions to increase this. Forward Fund compared with 2017 and in the South East transactions were On 4 July 2017, the Department for Communities and Local down by -4.8%. •20% Land Buffer (>25%): LAs identify an additional Government launched the £2.3 bn Housing Infrastructure deliverable land supply of 20%, equivalent to six years land Fund to unlock up to 100,000 new homes across the Within Kent, Dartford is the only area to have seen an supply over the next five years. country. As part of the wider £23bn National Productivity increase in property transactions in 2018 compared to 2017 Investment Fund, the HIF is aimed at providing grant funding with 55 more sales which equates to a 2.4% increase. •Presumption in favour of sustainable development (<25%): to provide new homes in areas with the greatest need for Proposed developments should be granted permission housing, and fund vital physical infrastructure. The 2017 Kent remains good value for house buyers. The overall unless the adverse impacts outweigh the benefits. Autumn Budget announced a further £2.7bn to the HIF, average property price in Kent during 2018 was £339,689. taking the total investment to £5bn. This is 14.8% lower than the average property price in the However, from November 2019, any councils with an HDT South East, (£379,717) but 9.7% higher than the average for score below 45% will fall into ‘presumption in favour of County and Unitary Authorities were invited to bid for up England & Wales (£297,220). sustainable development’. By November 2020 this will apply to £250m of funding. This element of the fund is intended to any LPA with a score of less than 75%. to deliver a small number of high impact infrastructure The average house price at a county level masks a significant schemes to give the market confidence to provide further range in prices across Kent, with an average of £519,211 in Homes England investment and homes in an area. Homes England/MHCLG Sevenoaks to £260,030 in Thanet. The average price in the The Homes England 2018-2019 Affordable Housing are assessing 2 HIF Forward Fund bids from Kent and Medway Unitary area was £264,526. Programme (2015-18 and 2016-21) for Kent and Medway Medway: delivered 11 social rent starts and 38 completions, 578 Swale Borough – funding for key transport improvements Based on the number of Energy Performance Certificates affordable rent starts and 649 completions and 794 necessary to support long term housing delivery. issued on new dwellings, during 2018 there were 7,394 new affordable home ownership starts and 623 completions. Medway/Hoo Peninsula – funding to significantly improve dwellings built across Kent. This a 3.6% increase on the 2017 roads and rail connections as well as provide investment in total of 7,134. Partnerships local healthcare, schools, sports facilities and country parks. Sources: Homes England has announced strategic partnerships with 23 HM Land Registry Open Data Standard Reports Ministry of Housing, Communities and Local Government (MHCLG): Live table NB1 housing associations to deliver an additional 39,000 affordable An announcement on the outcome is expected later this year. homes across the country by March 2022 with £1.7bn funding. A number of these are actively developing in Kent. Marginal Viability Fund Numerous housing sites all over the country are held

40 Kent Property Market Report 2019 back because the costs of putting in the infrastructure Kent and Medway Housing Strategy The refreshed strategy will: and building the homes are too great. For these types of Housing remains high on the agenda for the government, •Provide clarity on the major strategic housing challenges development, the Government will provide the final, or with continued commitment to accelerating housing growth facing Kent and Medway, identify common areas of missing, piece of infrastructure funding to get additional sites and meeting the target of 300,000 new homes each year concern and propose pragmatic solutions on issues where allocated or existing sites unblocked. Government expect by the middle of 2020. To support this ambitious national a Kent and Medway perspective could add value and the infrastructure to be built soon after schemes have been delivery target government has published a range of policy contribute to delivery of local ambitions. awarded funding and for the homes to follow at pace. announcements and provided funding opportunities that •Recognise that there is a great diversity of housing provision include: across Kent and Medway and that what is appropriate for Several HIF Marginal Viability Fund bids were made by Kent •Community Housing Fund of £163m one neighbourhood may not be right in another. Districts. Dover, Swale and Thanet were successful and are in •£125 m Care and Support Specialist Housing Fund to •Set out a menu of solutions to assist authorities in achieving contract negotiation: develop new affordable homes to meet the needs of older their local aims, whilst supporting the collective objective to people and disabled adults by 2020/21 deliver an ambitious housing offer. Dover Dover Rapid Bus Transit £16.08m •Move on Fund of £44m for capital expenditure to provide Swale Queenborough & Rushenden £5.18m up to 879 beds for rough sleepers or those living in a refuge Kent Planning Protocol Regeneration or hostel by 2021 The Kent Developers Group, Kent Planning Officers Group Thanet Manston/Haine Roundabout £5.80m •An updated Shared Ownership and Affordable Homes and Kent Housing Group have continued to collaborate in Programme with continuous market engagement the implementation of the countywide Planning Protocol opportunities for a mix of tenures for schemes to achieve to share best practice and assist with the delivery of the Small Sites Fund planning consent by March 2021 housing, employment and growth aspirations. Several applications have been received for small sites •The abolition of the Housing Revenue Account (HRA) Debt funding. Homes England will work with Local Authorities to Cap and new HRA Borrowing prospectus. The planning process can be hugely complex and lengthy. provide grant funding to unlock these sites by 2021. The planning protocol seeks to make the process more The refresh of the Kent and Medway strategy is being efficient by enabling greater collaboration in the pre- Local Authority Accelerated Construction developed and aligned to respond to the current challenges application and planning application stages of the process One site in Medway has successfully bid for funding and is in and opportunities at a strategic level, both nationally and through better communication and consistency. contract. Further bids in Kent are in due diligence stage. locally. It will link to and reference documents such as the recently published Homes England Strategic Vision (20018 The protocol has already been used to enable discussions Future High Streets Fund to 2023), the South East LEP Economic Strategy Statement between the districts and developers to address the growth An additional 50 towns will now benefit from the £1billion (a bridging document whilst the Local Industrial Strategy agenda, whilst maintaining quality and delivering through Future High Streets Fund. This extension to those already is developed) and the Kent and Medway Growth and open dialogue. As part of the protocol, the private and public shortlisted is in addition to the £3.6bn Towns Fund already Infrastructure Framework. As additional strategy or policies, sector are working together to address the skills that the announced in July, which included an extra £325m for the national or local, come forward Kent Housing Group industry needs to maintain an effective planning system and Future High Streets Fund, taking the overall Fund to £1bn (KHG) will reflect upon these for relevance to the emerging Kent colleges have responded to the need for more planners as the Government looks to drive forward local growth. strategy. within the County. The scheme was launched in December 2018 and is a key part of the Government’s plan to renew and reshape town The Kent & Medway Housing Strategy 2018-2023 will Initially launched in 2017, following endorsement from centres and high streets in a way that drives economic also aim to provide a platform for a shared approach and politicians and officers in all planning authorities it has growth and sustainably improves living standards. ambition to meet the county’s’ housing challenge including received a great deal of support. It confirms the commitment tenure, affordability and supported housing. It will be a to the growth agenda and to the delivery of the housing Successful bids will enable towns to progress to the second document that can be used by a range of partners to lobby numbers, commercial requirements and much needed phase of the Future High Streets Fund and receive up to at local and national levels, to ensure that Kent and Medway infrastructure, in quality sustainable development. It £150,000 to support the development of detailed final project can meet identified growth ambitions and ensure that is supported by Kent Highways, Homes England, The proposals that can then be submitted for capital funding. communities benefit from homes and places where they Environment Agency, Natural England, South East Local In Kent and Medway successful bids from local authorities wish to live and work. The success of the strategy will be Enterprise Partnership and many other stakeholders and in Dartford, Dover, Thanet (Ramsgate) and Medway the development of an all-encompassing document that is describes Kent’s approach to delivery requirements and (Chatham) have progressed to this second round phase. relevant to all providers of homes in Kent and Medway. working collaboratively to succeed.

Kent Property Market Report 2019 41 Kent County Council, Medway Council & Kent’s District Council Commentary

Infrastructure and Regeneration street design, public realm and street planting and give clear Maidstone East Development Continued guidance on the future look of Ebbsfleet Garden City. Kent County Council acquired the 3.42acre former Royal Mail Sorting Office at 98 Sandling Road in 2016 with its Ebbsfleet Development Corporation is also progressing its 50/50 partner Maidstone Borough Council. The partners plans for a city centre which will be built around Ebbsfleet are developing a master plan to create a new urban quarter International Station and will provide significant employment in the town centre opposite County Hall incorporating opportunities. So far, the corporation has invested more than Network Rail land and the county Council’s Cantium House. £100m into vital infrastructure such as a ground-breaking electricity deal which ensures a future supply to the area and The vision is to provide around 500 new homes, over 800m² early next year, the corporation will open Springhead Bridge, (8,611ft²) of retail floorspace and almost 5,500m² (59,201ft²) The Kent and Medway Planning Protocol is an important providing a vital link to residents of Springhead Park to the of office accommodation. The borough council’s aspirations initiative, that reflects best practice and improvements international train station. are to relocate to the scheme once complete, possibly with to the planning system, delivering on our promises, but other public service providers. Asset management of the site it requires regular review. There has been a great deal of Kent County Council Property as part of a short-term holding strategy includes using it for partnership working with and Essex to share KCC’s Infrastructure Team has an extensive and wide- parking and short-term lettings. best practice and helping them produce their own versions ranging involvement in the county’s property market which of the document and we are now about to engage with our helps support the local economy and provide employment Maximising Returns through exploring partnership stakeholders to refresh and develop an enhanced Kent and opportunities across the county. with the Private Sector Medway Planning Protocol. The County Council will seek private sector partner(s) The county council needs sustainable and well-maintained to develop an innovative Property Delivery Model. It has Ebbsfleet Garden City infrastructure and assets. KCC has an ambitious capital substantial and diverse assets and is looking to explore their Ebbsfleet Garden City continues to go from strength to programme to develop and deliver key infrastructure development (with or without service provision elements), strength. So far, 1,700 homes have been completed – projects and explore alternative funding models, including maximising value and return to the Council. The strategic that means approximately 3627 residents are now calling land value capture. It aims to maximise value from its development partner(s) will work with KCC to identify Ebbsfleet Garden City their home. There are 15 active property portfolio, reinvesting receipts from disposal of opportunities from its land holdings. Detailed requirements delivery partners working in the Garden City, delivering a surplus assets. Resource pressures necessitate the need to are being developed and its intentions are to hold a series whole range of homes from affordable to five-bedroom participate in increasingly competitive bidding for external of market testing discussions with interested potential market sale homes. funding and investment. In 2018-19, KCC completed over 30 bidders. A Prior Information Notice was issued to potential major development projects totalling over £90m of capital development partners indicating KCC’s intent to go out to Work has started on almost 600 homes by Keepmoat on the spend, the majority of which was for schools. market in due course. banks of the River Thames in Northfleet. Almost 40 per cent of these homes will be affordable. Approximately £7.9m of land and property assets were Live Margate realised from the KCC estate, principally for new housing Last year KCC reported on this coastal regeneration project. Nearby, Berkeley will open its new modular homes factory development and employment generation. These receipts The South East Local Enterprise Partnership (SELEP) supports which promises to be state-of-the-art and will produce a will be reinvested in the council’s capital development the project through GPF funding working closely with its range of modular housing designed to a high specification programme. The Disposals Team also work closely with partner Thanet District Council. Kent County Council is keen and excellent build standards. partners such as the NHS in bringing forward schemes that to deliver appropriate residential accommodation onto the deliver public benefit as well as generating reinvestment market in line with their No Use Empty (NUE) initiative. Part of Redrow recently moved its south east headquarters to the capital for KCC to invest in its services. phase one,12a Dalby Square was an award-winning example Garden City, further strengthening the area’s reputation as for multi-generational and environmentally sustainable living a great place for business. An example is surplus land in North Kent being considered for delivered through this project. an exciting development with a GP facility. This will also release The Development Corporation’s planning committee land for residential development. With the NHS in West Kent, Javelin Way, Ashford approved design codes and masterplans for two villages and an adjoining private sector landowner, a comprehensive The County Council has secured planning approval for which will complete the area formerly known as Eastern residential development incorporating a medical hub is being the development of 29 commercial units as the enabling Quarry and now known as Whitecliffe. These will shape brought forward. Further projects in the pipeline include: development, providing capital receipts to part-fund (with

42 Kent Property Market Report 2019 Arts Council England) the delivery of a Creative Laboratory/ plan that informs the commissioning of education capital county. It works with the government’s established One Dance Studio at Henwood Industrial Estate, Ashford. projects. The KCP 2019-23 identifies the need for additional Public Estate (OPE) programme to build a shared picture of permanent and temporary mainstream school and specialist the public sector estate in Kent. Tunbridge Wells Cultural Hub places each year with the next two-year programme Tunbridge Wells Borough Council and Kent County Council delivering £70m of investment. In addition, the County So far, it has submitted bids to three OPE funding rounds, are working together to provide the town of Royal Tunbridge Council also works with the Department for Education to and has been successful in all. Funding of £703,000 Wells with a Heritage, Cultural and Learning Hub. The secure the local delivery of new free schools. is currently supporting eight collaborative projects in vision for the hub is to create a building that provides an the county for feasibility and master planning work. excellent visitor experience for all, high-quality architectural Kent Estates Partnership/One Public Estate These projects are forecast to deliver £35m in capital design, a destination building and acts as a catalyst for the The Kent Estates Partnership brings together public sector receipts, 1100 new homes, 3500 new jobs and £5.5m in regeneration of Tunbridge Wells as a cultural destination. services from across the county with the aim of identifying savings. Less tangible benefits include improvements to The project will see the integration of the following services opportunities to collaborate and deliver organisational the living, working and leisure environment across Kent. under one roof: synergy, employment and housing regeneration and Its aims include increasing general health and wellbeing, •Museum Service key schemes. The Partnership was formed in 2016 with both physical and mental, in local communities as well as •Libraries partners from Emergency Services, Health, Higher & Further improvements to community facilities, transport links •Archives and Registration Education and all levels of Government from across the and access to improved employment prospects.

•Adult Education PHOTO: CANTERBURY CHRISTCHURCH UNIVERSITY •Visitor Information •Gateway for Citizen Information Services

The site is in a prominent position in the centre of Tunbridge Wells and forms part of the Civic Complex. The existing Library & Museum building and the Adult Education Building are both Grade II listed. The brief for the project requires the buildings to be made fit for purpose. An area of new build is proposed to accommodate the requirements of the brief and to link the two buildings. Funding is coming from the Heritage Lottery and Arts Council England.

Education Capital Programme Every child deserves a first-class education and the County Council ensures that there are enough good school places for every child who needs one. KCC has an excellent track record of ensuring enough good school places, informed by our Commissioning Plan for Education Provision in Kent (KCP), which is updated annually. The KCP sets out the principles by which we determine proposals, and it forecasts the need for future provision. It sets out how Kent County Council discharges its statutory responsibility to secure sufficient early years, Special Educational Needs and Disabilities, primary and secondary places and to ensure that there are appropriate learning pathways for pupils post 16 years old. It is KCC’s responsibility to ensure that it has enough places in the right locations and at the right time to meet the demands of increased pupil numbers and parental preferences. This is an annual process, with a rolling Proposal for the EDGE Hub at Canterbury Christchurch University.

Kent Property Market Report 2019 43 Kent County Council, Medway Council & Kent’s District Council Commentary

Infrastructure and Regeneration NUE Residential than the year before). Folkestone & Hythe saw the biggest Continued Over the last 5 years the number of long-term vacant five-year reduction in long-term vacant dwellings recording dwellings in Kent has fallen by 2.3%, nationally they increased a fall of 38.9% (298 fewer after 5 years). by 0.1%. Long-term means those dwellings that have been unoccupied and substantially unfurnished for over six months. Thanet district has the highest number of long-term vacant dwellings at 781. Maidstone district saw the biggest increase Latest Council Tax records show there are a total of 17,223 (43) in long-term vacant dwellings over the last year, vacant dwellings in Kent (KCC area) and a further 3,393 recording a total of 485 long-term vacant dwellings. vacant dwellings in the Medway Unitary area. This figure includes all tenures (local authority, housing association and NUE provides short term secured loans awarding £30.2m to No Use Empty private sector); although many are privately owned. Within date and levering in £30m from the public/private sectors, Economic decline, recession and some of the lowest this total were 6,172 long term vacant dwellings in Kent and which have supported 1,013 units across Kent since the property values in the south east have led to a historical Medway (5,028 in Kent and 1,114 in the Medway Council launch of the initiative. Average renovation cost to return lack of investment in pockets of our coastal areas notably, area). a unit to occupation is £48,500, with the average County Dover, Folkestone and Thanet. Wider regeneration initiatives Council investment being £23,000. continue to attract high profile investors and funding. In the last year a total of five Kent districts saw a reduction in This led to an increase in small and medium sized property their respective long-term vacant dwellings, the biggest of Over £15.3m (51%) of funding advanced has already been developers looking to refurbish empty buildings and which was seen in Dover recording a fall of 26.0% (52 fewer repaid and recycled.

turn them into homes. However, in many cases severe LTD ESTATES DUBLIN PHOTO: dilapidation and an inability to access funding on the open market for renovation costs, left buildings empty.

No Use Empty (NUE) is now established as the longest running empty property initiative in the UK and will celebrate its 15th anniversary in 2020. Bringing long-term empty properties back into use is a key method of driving regeneration, one which not only provides new homes but also new sources of employment and a sense of community.

NUE remains committed to reducing the numbers of long-term empty properties, returning in excess of 6,047 back into use since 2005 through a range of interventions. Delivered by Kent County Council in partnership with all 12 district councils it provides an exemplar model which can be replicated. The success factors are: •Planning and continuity •Dedicating resources, •Monitoring outcomes, •Adjusting delivery models to reflect current market conditions •Providing financial assistance to owners •Securing short-term loans with repayments recycled for new loans

No Use Empty residential scheme: Dublin Mews, River, Dover.

44 Kent Property Market Report 2019 PHOTO: BROWNS CONSTRUCTION LTD CONSTRUCTION BROWNS PHOTO: The combination of NUE loans and top-up loans (administered by NUE on behalf of the councils of Dover, Folkestone & Hythe and Tunbridge Wells) are designed to help developers to bridge the gap between pre/post refurbishment values by providing a loan which takes account of cost of works, which banks and other lenders will not do. Without this joined-up approach these properties would have remained empty. In addition to this, £2m of funds was allocated with a specific focus on Margate to help meet the increased demand to tackle some of the larger buildings which can be converted to provide much needed family homes.

NUE Commercial NUE’s primary focus has been on empty residential properties. However, over the years it has supported the conversion of vacant space above empty commercial units which have also been returned to use but not with loan support. In 2018 KCC secured an extra £1m for NUE to provide short term secured loans to return long term empty commercial properties (empty shops or small redundant workspace areas) to use for alternative commercial or mixed-use purposes, primarily in our coastal areas.

The Growing Places Fund (GPF) was established by the Ministry for Housing, Communities and Local Government and administered through the South East Local Enterprise Partnership. The aim of this funding is to unlock economic growth, create jobs and ‘kick-start’ house building at stalled No Use Empty commercial scheme: Sandgate Road, Folkestone. development sites. Operating as a recyclable loan scheme it was the perfect match for NUE. Going forward dwellings, formation of vehicle crossovers, excavation works NUE continues to increase Council Tax receipts for local and landscaping. The project is near completion and two Under the NUE commercial banner a commitment has been authorities throughout Kent, has attracted New Homes properties have already been sold. The NUE investment is made to return a minimum of eight commercial units and Bonus and is helping to generate new business rates through due to be repaid on the sale of the third and fourth dwellings provide a minimum of 28 residential units by March 2022 the NUE Commercial project. The initiative has created or and will be recycled into a further project. Without the with short term secured loan support. Twelve individual safeguarded over 1,000 jobs and provided homes to more intervention of NUE, this site, which had remained empty for projects are currently funded in the districts of Dover, than 2,200 local people. three years, would have taken much longer to develop into Folkestone and Hythe and Thanet. six new homes completed in just over a year. NUE have also introduced short term secured interest NUE provided funding from its GPF allocation to finance a bearing loans to take forward smaller developments on Kent’s approach to tackling empty properties has project in Folkestone: the transformation of a three-storey redundant or vacant sites. been widely praised winning three national awards for empty commercial unit of 252m² (2,712ft²) with basic Regeneration and Partnership Working. The County Council ancillary storage above. Following planning permission, the A loan of £600,000 was provided to Dublin Estates Ltd recently approved support for NUE to at least 2021-22. ground floor is now operational as a beauty salon (creating 7 in December 2018 for the conversion and extension of a jobs) and the first and second floors provide two 3 bedroom former public house to create three terraced dwellings, For more information: apartments which are now let. erection of three detached and a pair of semi-detached www.nue.org.uk

Kent Property Market Report 2019 45 Kent County Council, Medway Council & Kent’s District Council Commentary

Infrastructure and Regeneration Rail Projects from the Kent & Medway Economic Partnership to reflect Continued Journey Time Improvement (JTI) scheme business and further education interests in the county. Phase 1 of this scheme to improve the journey time between Ashford and Canterbury West is now completed. Following Thameslink successful testing, the journey time benefits from this phase Two new services have been scheduled to serve Kent and are now being enjoyed by passengers and are expected Medway. One commenced in May 2018 and has replaced to be formally included in the December 2019 timetable. the existing Southeastern service between Rainham/ Design work is now underway for Phase 2 between Gillingham and London. The other was due to commence in Canterbury West and Ramsgate, with benefits due to be December 2019 but the Department for Transport has now delivered by Dec 2021. This scheme will support economic confirmed that this new service will be deferred for a fourth Transportation growth in Thanet and is essential to support the delivery of time to a future unknown date. This additional route links the new Thanet Parkway station. Maidstone East, West Malling (for Kings Hill), Borough Green Local Growth Fund & Wrotham, Otford and Swanley with London Bridge and In 2014, the government announced planned investment The Ashford Spurs Project other City stations, then north to Cambridge. of at least £12bn nationally to promote growth in local The main part of this project is now completed, with the economies through a series of ‘Growth Deals’ to operate delivery of the upgraded signalling system on the ‘Spurs’ Ebbsfleet Garden City over six years from 2015/16. Known as Local Growth Funding which link Ashford International Station with High Speed One The existing High Speed One from Ebbsfleet cannot meet the (LGF) it would finance infrastructure and skills schemes to and officially opened by the Secretary of State for Transport projected demand from the planned housing growth in the unlock housing growth and encourage job creation. in April 2018. The Local Growth Fund via SELEP is the primary new garden city. All peak-time high speed services via Ebbsfleet source of funding and for the final work to deliver resolution are at capacity and it is often impossible to get a seat in off- In March 2016, the Secretary of State for Communities of technical problems which have prevented the new peak periods. This is a major issue to be addressed by other and Local Government announced Round Three of Local Eurostar trains from serving Ashford International. This is rail infrastructure. The current level of service, itself constrained Growth Funding (LGF3), worth £1.8b across England. The expected to be completed by the end of 2019 after which full by the terminal capacity for High Speed One at St Pancras, Government stipulated that the LGF3 funding would be Eurostar services to and will be restored. Kent will not meet projected population growth in Ebbsfleet. allocated to Local Enterprise Partnerships (LEPs) through County Council works in close partnership with Eurostar a competitive bidding process. Of this South East Local and has submitted a business case for an enhancement to Crossrail Extension Enterprise Partnership (SELEP) received £102m to help the level of the Ashford – Brussels service once the Ashford The planned opening of Crossrail 1 (Elizabeth Line) to create jobs, support businesses and create new growth Spurs project is completed. Abbey Wood has been postponed until at least 2021. Local opportunities. authorities are jointly considering, with Transport for London Kent Route Study and the Greater London Authority, the options for a future Ministry for Housing Communities and Local Government Kent County Council has responded to the consultation on extension of Crossrail to Ebbsfleet. The outline business case (MHCLG) has called for all LEPs to ensure that any LGF the five yearly Kent Route Study undertaken by Network Rail. for this concept was presented to the Ministry of Housing, underspend is re-invested in the most effective way. In It sets out a range of options for funders for infrastructure Communities and Local Government in December 2018. response, SELEP devised the LGF3b process, whereby a enhancements required on Kent’s rail network between Funding of £4.85m has been offered by Government towards pipeline of schemes was agreed to be funded as and when 2019 and 2024. This study also recognised the significant the further development of this business case. If there were LGF underspend is available. For Kent, the following schemes increase in demand at Ebbsfleet station from planned government approval for a future extension to Crossrail 1 this will now be delivered: housing growth in Ebbsfleet Garden City. would be key to delivering additional rail capacity required for •Thanet Parkway Railway Station Ebbsfleet Garden City and north-west Kent. •M2 Junction 5, Stockbury South Eastern New Rail Franchise •Kent and Medway Medical School, Canterbury Kent County Council responded to the Department for Sandwich Station Transport’s consultation on the new South Eastern franchise Kent County Council is the lead authority for the Sandwich Kent County Council is responsible for the programme for the Kent and Medway area. This has again been delayed Station capacity upgrade project with funding now secured. management of all 31 Local Growth Fund projects in Kent. with the existing operator granted an award to continue Network Rail will deliver the project with two platform There are, however, specific projects where third-party operating the franchise until April 2020. The county extensions, new footbridge, access path and steps. This organisations are responsible for delivery. council included a wide-ranging list of proposed service creates additional capacity for rail travellers to The Open in enhancements for a new franchise. This included responses July 2020 and all future golf events at Sandwich.

46 Kent Property Market Report 2019 PHOTO: KENT COUNTY COUNCIL COUNTY KENT PHOTO: Thanet Parkway Kent County Council is seeking to deliver Thanet Parkway, a new railway station near Cliffsend. The aim is to significantly improve rail access to London for local communities and developments at Discovery Park and Manston business parks and should see journey times to London (Stratford International) of around an hour and London St Pancras at around 70 minutes.

Lower Thames Crossing The is anticipated to be the largest road project since construction of the M25. Providing additional capacity between Essex and Kent it will not only assist in easing congestion at the existing Dartford Crossing but will also create a new strategic route from the Channel Ports to the Midlands and the North.

Highways England continue to develop their proposals for a bored tunnel under the River Thames east of Tilbury and Gravesend, to connect the A2 with the A13 and M25 at Junction 29. A ten week statutory public consultation was held in the autumn of 2018 and received a record-breaking Proposal for the new Thanet Parkway rail station near Cliffsend. 28,493 responses. This feedback is in the process of being considered and the County Council continue to work closely parks across the county. Ashford International Truckstop has in 2019 will consult on a draft transport strategy for the alongside Highways England to ensure the best possible expanded and relocated its overnight lorry park now with South East. TfSE is already making the case to government outcome for Kent’s residents, businesses and visitors. The capacity to for 600 HGVs. The county council is also working for investment in rail and the Strategic Road Network by submission of a Development Consent Order application with the Department for Transport, district councils and Kent submitting priorities for the next Road Investment Strategy has been postponed until Summer 2020 to enable revisions Police on stronger enforcement action against illegal lorry (RIS). In Kent, RIS priorities include the new Lower Thames to the design following consultation feedback, although the parking to address problems of inappropriate lorry parking Crossing and its required wider network improvements. planned opening year remains as 2027. across Kent. Examples include: improving the connection at M2 Junction 3 with the M20 at Junction 6 via the A229 (Bluebell Hill), Operation Brock / Operation Stack Local Transport Plan improvements to the M2/A2 corridor with an upgrade of Operation Brock was introduced as a measure to queue freight Local Transport Plan 4: Delivering Growth Without Gridlock Junction 7 (Brenley Corner) and completion of the dualling vehicles on approach to Channel ports as a result of potential 2016 – 2031 was adopted by Kent County Council in July of the A2 from Lydden to Dover. Government is expected border and customs checks if the UK were to leave the EU 2017. This plan aims to deliver transport priorities for Kent to announced its priorities for the next RIS in late 2019. without a deal. It consists of a contraflow on the M20 between which will contribute to a safe and efficient transport system. TfSE have also been asked by the Department for Transport junctions 8-9 London-bound enabling 2-way flows while the to submit priorities for the Major Road Network (MRN), coastbound carriageway is used to queue port-bound freight Transport for the South East (TfSE) a new category of road announced by government in vehicles. Brock is part of a multi-agency plan that also includes There is a newly emerging Sub-national Transport Body December 2018 for the most important A roads. In Kent, the Dover Traffic Access Protocol on the A20, the use of the (STB) named Transport for the South East (TfSE). It consists schemes that are in the ‘Top 10’ list for funding in the runway at Manston Airport and also the M26 in a worst-case of Kent, Medway, East Sussex, , Surrey, South East MRN include: improvements to the A249 at scenario for queuing additional vehicles if required. , Brighton & Hove, , , M2 Junction 5 (Stockbury) to ensure this Highways England , the authorities plus the five Local RIS scheme, essential to the Swale Local Plan, is delivered. Overnight Lorry Parking Enterprise Partnerships within this area. Its development Also a new relief road for the A28 around Birchington, Kent County Council has been working with the private has progressed with a consultation on a draft proposal to Westgate and Acol which will enable growth in the Thanet sector to promote the idea of a network of overnight lorry government for TfSE to become a statutory body and later Local Plan.

Kent Property Market Report 2019 47 Kent County Council, Medway Council & Kent’s District Council Commentary

The Thames Estuary Production Corridor 1 Stratford. Delivery of East Bank 10 Rainham. Development of Centre 18 19 20 Chatham, Sheerness and alongside Here East creates a globally for Manufacturing and Engineering in Sittingbourne. Chatham becomes The Vision significant hub for creative production Rainham building identity around future established as a regionally important The Thames Estuary Production Corridor (TEPC) is an and consumption. industry. cultural hub through expansion of the ambitious industrial vision for a world-class hub for creative/ Centre for Contemporary Arts and the 2 Poplar. Economic identity becomes 11 Dartford. Town centre rebranding creation of the Institute for Creative and digital production and leading global innovation, creating synonymous with clothing design, and re-modelling focusing on Cultural Industries. new jobs, developing talent and supporting the rapid growth production and manufacturing through placemaking, creative meanwhile of the creative economy. the Fashion District. uses and establishing the future of the 21 Southend. The northern foreshore Orchard Theatre. Estuary hub for arts, creative and digital Launched by the South East Local Enterprise Partnership 3 Deptford and . production and education. Creative Enterprise Zone status and 12 Purfleet. Evolution of Royal Opera and the Mayor of London in 2017 it extends from east action plan shapes economy to focus House and High House Production 22 Colchester. Home to University of London to Margate south of the Thames and to Southend on creative activity and the existing Park alongside Purfleet Media Village Essex, with growing AR/VR and The to the north. Building on the manufacturing legacy, this spark created by university spin outs an internationally significant hub for Games Hub. Rapid creative SME. bold programme will develop a series of state-of-the-art increasingly evolves to realise the film, TV and games post-production. creative, digital and cultural production centres to create opportunity of Goldsmith’s specialism Growth is accompanied by investment 23 Ashford. New Creative Laboratory the UK’s densest concentration of production activity. in Augmented Reality. in producing theatre and workspaces. anchored by Jasmin Vardimon Investment in the Thames Estuary’s creative industries has Greater London. Company will drive change supported 4 Greenwich, Charlton and by further site capacity. the potential to deliver 50,000 new jobs and add an extra . Design, culture and creative 13 Ebbsfleet. Culture-led regeneration £3.7bn to the UK economy. embedded at the heart of large supports innovation with space to 24 25 Canterbury and Whitstable. scale regeneration delivery in North deliver future generation production Economic identity becomes established From Vison to Action Greenwich and Woolwich. activity at scale. around art, design and crafts alongside Since 2017, the Thames Estuary Production Corridor has an increasing emphasis on innovation, seen major development and investment. In January 5 Royal Docks. A new hub for creative 14 Grays, Tilbury and Corringham. led by the Canterbury Christ Church and enterprise collaboration anchored by Town centre revitalisation supported University and the University of Kent. 2019, the TEPC was awarded £4.3m from the Department the Enterprise Zone, Millennium Mills and by an increasingly visible presence of for Digital, Culture, Media & Sport, confirming central Silver Building – it will incubate creative cultural and creative production. 26 Folkestone. Culture-led government’s commitment. This will unlock long term, production for the whole estuary. regeneration and re-branding continue transformational, culture-led growth establishing the region 15 Gravesend. Realisation of creative to drive the evolution of Folkestone as a creative hub connected to London, the UK, European 6 Barking. Developments focused workspaces at Customs House and the as a key node for creative and cultural and global markets. on artists and makers catalyse further Henley Building deliver visible creative activity in the South East with Creative activity and support the area to become production in the town centre. Folkestone Quarter and Folkestone a viable place for them to live and work. Triennial. The Partnership 16 Basildon. Supply chain and The TEPC is a unique cross-boundary partnership which 7 . Cultural-led grassroots activities are supported 27 Margate. The southern foreshore involves the Greater London Authority, Royal Docks and the regeneration supports residential and through new town centre facilities and Estuary hub for arts, creative and digital seven East London boroughs that are part of the Thames workspace opportunities for creative through further diversification from production and education, Resort Estuary region, SELEP and the South East Creative Economy freelancers and SMEs. The Place and traditional manufacturing to creative Studios and Turner Contemporary. Network, Kent and Essex County Councils, 11 local authority Making Institute provides a focal point and cultural production. for maker collaboration and education areas represented by Thames Gateway Kent Partnership 28 Ramsgate. Art and co- in the Estuary. 17 Maidstone. Existing strengths in commissioning supports further and Opportunity South Essex. The TEPC partnership is film and television production will town centre renewal, complementing working with a network of HE and FE institutions and cultural 8 Bexley. Theatre Making Centre strengthen and, alongside other developments at Margate. organisations in the area. A new report, From Vision to Action supports national touring productions, developments (e.g. Kent Medical launched in July 2019, summarised a year-long programme building upon the strength of Rose Campus), support higher value of research that evidences how the TEPC will unlock and Bruford and Bird Colleges North Kent. employment. maximise the potential of the creative and digital industries 9 Dagenham. Realisation of East to transform the Estuary. Brook studios, creates an internationally significant hub for film and television production. Dagenham

48 Kent Property Market Report 2019 Cultural Production Areas Infrastructure Projects

1 Stratford 14 Grays, A Proposed Tilbury and Rotherhithe 2 Poplar Corringham Bridge 22 3 Deptford and 15 Gravesend B Proposed New Cross Bakerloo Line 16 Basildon Extension 4 Greenwich, Charlton and 17 Maidstone C Proposed Woolwich Silvertown 18 Chatham Tunnel 5 Royal Docks 19 Sittingbourne D Overground 6 Barking Extension 20 Sheerness to Barking 7 Thamesmead 21 Southend E Proposed DLR 8 Bexley Thamesmead M11 22 Colchester Extension 9 Dagenham 23 Ashford F Proposed 10 Rainham Crossrail 24 Canterbury Ebbsfleet 11 Dartford Extension 25 Whitstable 12 Purfleet G Proposed 26 Folkestone Lower Thames 16 13 Ebbsfleet Crossing 21 27 Ramsgate 1 9 M25 6 28 Margate D 10 2 5 Dock Airport Motorway N A E C 7 12 A Roads Rail 4 14 3

G B 8 11 20 13 15 F 28

18 25

27 19

24

17

M20

23

26

Kent Property Market Report 2019 49 Kent County Council, Medway Council & Kent’s District Council Commentary

Following a novel retrofit project undertaken by Sustainable Urban Drainage Systems (SuDS) Green Infrastructure Accommodation Yes Ltd in a dilapidated Victorian house in Maidstone the property was converted into eight flats for Opportunities in delivery of multi-functional drainage vulnerable adults. This required the insulation of internal solid Recent changes to the National Planning Policy Framework brick walls to allow a solar-assisted heat pump system to includes reference to ‘multi-functionality’, a term that supply efficient and cost-effective heating for the residents. enshrines the four key pillars of sustainable drainage: • to manage water quantity Other Kent projects supported included incorporating • better managing water quality a solar array and heat pump technology in the re-built • improving biodiversity Boughton-under-Blean Bowls Club. A number of firms in the • creating better amenities for the local community. Low Carbon Across the South East (LoCASE) Low Carbon and Environmental Goods and Services sector have been helped to develop and launch their products: Where land performs a range of functions it affords a far Low Carbon Kent, through the Low Carbon Across the greater range of social, environmental and economic South East (LoCASE) programme supported the design, Green Gate Access Systems Ltd of Maidstone’s solar-powered benefits than might otherwise be delivered (Landscape development and build of a range of construction projects mobile site security barrier (SOSEC) has enjoyed continued Institute Position Statement, Green Infrastructure). Open over the past three years. Now the last of the £6m grants success on a number of building, tourism and leisure sites. RS spaces are often multifunctional, fulfilling several different available has been claimed, it offers an opportunity to look French Ltd of Faversham have taken this concept further to valuable roles; for example, in the main they may be for back at some of the more innovative projects, companies develop a site welfare unit harnessing daylight rather than a recreational use, but they may also provide valuable wildlife and products assisted with this funding. diesel generator for power. These have already been in use on habitat, an attractive landscape, paths for walking and Siemens construction sites around the region. cycling and space for community events. LoCASE has also helped embed sustainability (such as sedum roofing) and renewable infrastructure into design The design and construction sectors have been well Well-designed, open, sustainable drainage measures may plans alongside standard lighting, heating and insulation catered for via support to integrate Building Information also provide this degree of opportunity, optimising all of retrofit works to scores of commercial buildings. LoCASE Management and design software to streamline projects these functions in a way which fits with the surrounding supported artist Nick Veasey’s new studio and the Process including: landscape. For example, park areas which can be used Gallery in Lenham. Working with local architect Guy • Improvements to the fabrication process of the Kent-based as temporary flood storage during heavy rainfall events, Hollaway this enabled the concrete construction required for modular construction firm Enevate Building Systems Ltd. and wetlands being used to deliver amenity value and the artist’s renowned X-ray process artwork to be combined • Developing a solar canopy system for Love Outdoors Ltd habitat as well as water treatment. The aim should be to with a green roof, minimising impact on the surrounding a company who specialise in transforming outside space create networks of high-quality open space which adapt landscape. The building was developed using a reclaimed based in Wilmington. for attenuation of surface water, sports and play and pig shed and showcased modern construction methods. • Collaborations between architects and Margate based enhancement of biodiversity.

PHOTO: GUY HOLLOWAY ARCHITECTS / NICK VEASEY / NICK ARCHITECTS HOLLOWAY GUY PHOTO: urban plant designers Ro-Co Ltd to enable living walls to be incorporated into Kent builds. Delivering high-quality open spaces within residential development can also deliver returns in attractiveness to Kent is a thriving county with a strong base of sustainability potential residents and mitigating concerns about the loss professionals eager to put plans into action. of the undeveloped parcels.

For more information about support and advice available, or to join the network: www.lowcarbonkent.com

Nick Veasey’s new studio and the Process Gallery in Lenham.

50 Kent Property Market Report 2019 PHOTO: MILLWOOD DESIGNER HOMES DESIGNER MILLWOOD PHOTO: House soakaways are utilised for individual homes on the road frontage not easily connected to the estate drainage network. The soakaways are designed to store the critical 1 in 100 year plus climate change event so that overall there will be a reduction in the green field run-off rate from the existing situation. This will reduce the flood risk to the adjacent properties.

The private roads, driveways and car parking areas are constructed using a permeable surface to replicate the existing ground as far as is practical. The porous sub-base is designed to cater for the 1 in 100 year plus climate change event which in this case will mean the porous sub-base is of the order of only 210 mm deep.

The swale, parallel to the main access road, provides a strong green spine and is sown with wildflower and grass mix to provide additional habitat. Consideration of landscape value of the sustainable drainage measures softens views of the development and integrates the new development into the landscape.

Project team Builder – Millwood Designer Homes Ltd. Flood Risk Assessment – Monson Consulting Engineers Drainage Designer – GTA Civils & Transport Landscape – Lloyd Bore Ltd. Swale system alongside access road at Millwood development, Maidstone. PHOTO: MILLWOOD DESIGNER HOMES DESIGNER MILLWOOD PHOTO: Case study spaces providing a tranquil vista at every turn. With just Brambledown, Cripple Street, Maidstone 36 homes (30% of which are affordable), this small ‘large by Millwood Designer Homes development’ delivers family rural living. The development scheme has been designed specifically to develop a sense The development site north of Cripple Street came forward of place. A large open space sits in the centre of the scheme for development consideration in 2014. There were – as a focal point to the scheme which also aligns with objections in relation to traffic pressures as well as impacts Bocking Farmhouse, the Grade II listed house adjacent to the to the wider countryside and its location outside of the site and improves its visual aesthetic to and from the house. urban boundary. The proposed development was approved Homes nearest this boundary are set lower so they remain following appeal but has also sought to deliver a high value subservient in scale to the listed building. drainage scheme which delivers water quality, amenity and biodiversity benefits. As a case study it demonstrates Sustainable drainage system an approach to surface water drainage that presents good As the site is underlain by permeable geology, the primary practice for other residential development. objective was to infiltrate to the ground. The scheme utilises swales to carry surface water runoff from the Brambledown sits on a five-acre site with landscaping highway and roof drainage to an attenuation pond and providing a foil for the scheme with ponds, swales and open crated soakaway system. Sustainable urban drainage, Millwood development, Maidstone.

Kent Property Market Report 2019 51 Contributory Sponsors’ Articles

for many years. The Guildhall Quarter proposals include each with high level Government and local authority support. Contributor repurposing the ground floor into 12 individual units with its commercial viability delivered by developing 70 apartments Demand for Clague’s strategic residential masterplanning above – and will be considered by Canterbury City Council. remains strong with clients increasingly looking to prioritise placemaking and future-proof these new areas The consensus is that, despite the current economic by enthusiastically incorporating new schools, public open uncertainty, demand for commercial space earmarked for space, access to the countryside. It is creating a sense of SMEs remains strong, especially if it offers good connections place that will appeal to new residents who want far more to the M20 and M2. However, supply has faltered. The move than just a house. At Clague our understanding of what has to residential has held back commercial development, made successful places and communities helps us, our but there is a growing recognition of the need for greater collaborators and clients to create new communities that will allocations of employment space, including starter units, have a long term appeal in an uncertain market. warehousing and last-mile logistics to support online retailers. Small housebuilders and developers still play an important Set to capitalise on the £100m+ investment in Junction role in the local market. Many sustainable schemes continue 10a on the M20, Waterbrook Park, a GSE Development has to come forward, including from the likes of Esquire secured permission for 4,650m2 of industrial space in four Developments, which recently secured approval for 72 units, along with 7,650m2 over nine blocks at Joseph Wilson units alongside four commercial units and nursery in Cliffe. Industrial site at Whitstable for GW Developments. These Further afield, a Clague designed scheme for a 35 unit Three clear Kent trends have emerged which schemes, each designed by Clague, all offer flexibility and village infill site at Great Missenden in was are regularly crossing the desks of the teams capitalise upon their strong road connections. considered at appeal to be appropriate to the Conservation at Canterbury-based Clague Architects Area and AONB, providing much needed new housing in an The housing market continues to be key element of the extremely popular commuter village. This year and beyond looks set to be about repurposing county’s property market. However, many local authorities major retail sites in our towns and cities; bringing forward are facing the need to increase their quantum and rates of Design remains an important factor, and Clague’s heritage commercial property schemes for the SME market; and housing delivery to ensure their Local Plans remain NPPF architecture expertise is increasingly being called upon to supporting strategic residential schemes in Kent and the compliant.As a result, a number of large schemes are coming ensure the scale and characterof the housing is consistent wider South East. forward, ranging from the 15,000 new homes anticipated for with its historic context and at the same time delivers for Ebbsfleet, alongside the 8,500 earmarked for Otterpool Park, modern day living.

The internet has brought a revolution to the high street, in ARCHITECTS CLAGUE PHOTO: some cases dealing a body blow as major retailers vacate significant sites. Changing consumer habits combined with the need to cut costs has forced household names to reduce their bricks and mortar presence. The result is a pressing need to repurpose many of our town centres in order to sustain strong local economies – and this will require landowners and local authorities to work together.

Once the nation of shopkeepers, independents have given way to multiples and department stores, but there appears to be the opportunity to go back to the future. A Clague project demonstrating the ongoing evolution of city centres and need to protect the retail offering is Guildhall Quarter, Canterbury.

January 2020 will see Debenhams vacate 93,000ft2 of retail space, with the vast majority of its second floor unused Herne Bay Commercial View.

52 Kent Property Market Report 2019 PHOTO: ASHFORD BOROUGH COUNCIL Practically, shorter term lets can be beneficial in that they Contributor come with minimal to no Stamp Duty Land Tax. However, security at the end of a short term lease is often the trade-off, if the landlord decides they do not wish to renew the lease.

Managers reviewing retail spaces such as Royal Victoria Place in Tunbridge Wells and Park Mall, Ashford, are rising to the challenge of repositioning and re-purposing their assets to widen and adapt their leisure and retail offerings. Retail leases can also be made more flexible by widening the possible market you can transfer the lease to which allows Asset Managers to take on tenants with fresh ideas and offerings. This can be done by relaxing the conditions on the ability to assign or to under let. Alternatively, the permitted use can be widened so that retailers in a different trade can take the lease without too much fuss (though the landlord will likely want to retain some control here).

Place-making Working on Flexibility Landlords can utilise the flexible lease to their advantage by getting in tenants such as street food retailers, pop up The formerly very traditional landlord and tenant Aimed at start-up firms, Coachworks is a mixed-use campus kitchens or coffee kiosks, that help give the ‘added value’ that relationship seems to be evolving into a relationship akin providing co-working space in Ashford. tenants are coming to expect. This market-like atmosphere is to supplier and consumer. The Model Commercial Lease an attractive one and likely to make these locations engaging is being increasingly adopted in the market, and that itself telecommunications and have the liability of an unknown places to spend time and allows for evolution to meet the is evidence of the move towards ‘fairer’ and more flexible service charge bill every year, the serviced office option challenges currently facing the industry. lease terms. Factors such as agile working and better offers certainty in more fixed outgoings. In order to stay technology have also led to a reduction in the demand for competitive in the market, more landlords are offering Elizabeth Robertson, space and more Kent-based landlords are offering space shorter lease terms. Tenant break options are being Associate at Cripps Pemberton Greenish on competitive terms and seeking to make their assets negotiated to make it easier for a tenant to walk away if they more flexible and more community based. find the space no longer fulfils their needs. The more agile work becomes the norm, sharing clauses are becoming Co-working in Kent a key consideration in negotiations. If a tenant ends up In the office sector, few will have avoided hearing of the with more space than it needs for itself then the option to global brand WeWork especially as they are in the process of share the spare desks with a group/company is desirable. going to an initial public offering. But there are plenty more Landlords have therefore started to agree to more flexible businesses which specialise in either running or brokering sharing clauses to allow for these eventualities. serviced office space. From the likes of Dragon Co-working with its trendy industrial offering to Crossways in Dartford In the retail world… to smaller community offerings such as The House in It is no secret that bricks and mortar retail is facing difficult Tunbridge Wells, where creative freelancers and start-ups times. Landlords with retail interests, in order to avoid empty can share facilities and ideas. These sorts of spaces can more units, are agreeing to shorter term lets which could at its easily be matched with the needs of their occupiers. extreme be as short as a few months to a year with rolling break options. For the very short term lets, rents could be all In comparison to a traditional office, where tenants inclusive of service charge and insurance so the tenant has must pay out for their own fit out, install their own certainty here.

Kent Property Market Report 2019 53 Contributory Sponsors’ Articles

Housing Need and NPPF Local Plan Progress Contributor The revised NPPF continues to endorse the standardised Across Kent, local authorities are making significant progress. methodology for calculating housing need, based on In February 2019, Ashford BC adopted its new Local Plan, demographic projections. Now termed ‘local housing need’, while Tonbridge & Malling BC, Thanet DC and Sevenoaks DC it is the baseline for the preparation of new Local Plans and all submitted their plans for independent examination. for determining a five-year supply of housing land when relevant strategic policies are more than five years old. Meanwhile, Tunbridge Wells BC is due to publish its draft Local Plan for consultation in September, setting out In September 2018, the Government published the proposals to meet its local housing need. The proposed household growth projections for 2016, however, these strategy includes the release of Green Belt to the east and were lower than the 2014 projections and moved them west of Paddock Wood to deliver approximately 4,000 further away from meeting their ambition to build 300,000 new homes and the release of Green Belt at Capel to form new homes a year. The Government has subsequently a new garden community. The Council is looking to adopt confirmed – in response to the technical consultation on a proportionate growth approach, with development updates to national planning policy and guidance – that the distributed between the wider villages based on the level of 2014 growth projections should be used as the baseline for services, facilities and infrastructure. calculating housing need. The government has also clarified the definition of deliverable, how five-year supply should be Progress in Medway is on hold awaiting news of a £17m bid calculated and that the presumption in favour of sustainable from the Government’s Housing Infrastructure Fund (HIF) to Kent Planning Update development should not be automatically disengaged when transform the Hoo Peninsula and waterfront regeneration an appropriate assessment is required. sites. Medway is one of 45 authorities shortlisted for HIF

DHA is Kent’s largest independent planning consultancy PHOTO: BPTW PARTNERSHIP support, which is a capital grant programme of up to £5bn, combining expert advice on town planning and aiming to help deliver 600,000 new homes across England. development, transport, design, environmental impact and infrastructure, with in-depth local knowledge. Despite adopting its Local Plan in October 2017, Maidstone recently commenced a review of its Local Plan with an Housing Delivery initial Call for Sites in May. This was followed by a ‘Scoping, In February 2019 the Government published an updated Themes and Issues Consultation’ in July 2019, looking at version of the National Planning Policy Framework (NPPF) and the strategic issues facing the borough, how they should be the long anticipated first set of Housing Delivery Test (HDT) addressed while delivering its development needs. Likewise, results. The HDT results are important as they were introduced Dartford BC also commenced work on reviewing its Core as the Government’s response to avoid unnecessary Strategy, looking at the ‘Big Strategic Issues’. discussion of what constitutes ‘persistent under delivery’. In summary, the Local Plan making process continues Under the amended NPPF, each to throw up new challenges and opportunities and this is (LPA) is required to take action if housing is not being delivered likely to continue into 2020. For an update on the current in line with anticipated targets. When delivery has been below Local Plan situation across Kent please contact DHA on 85% in the past 3 years, a 20% buffer should be included within 01622 776226. a LPA’s five-year housing land supply. For more information: The results have seen a number of LPA’s implement a 20% buffer, www.dhaplanning.co.uk including Gravesham, Dover, Medway, Swale and Thanet. Housing delivery in Sevenoaks and Tunbridge Wells has also been below Government expectations (less than 95%) and each is required to implement an ‘Action Plan’ to assist with the delivery of new homes. We are yet to see what these actions plans will include. Proposal for Rochester Riverside.

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This focus on building long-term customer relationships for mutual benefit has helped us to attain top ranking for customer satisfaction in an independent survey of British bank customers for the tenth year running*, and named

Kent Property Market Report 2019 55 Contributory Sponsors’ Articles PHOTO: GUY HOLLOWAY ARCHITECTS HOLLOWAY GUY PHOTO: Contributor

Every year MHA MacIntyre Hudson undertakes a national analysis of the construction sector Proposal for Chatham Centre and Waterfront. Our findings show that over the last three years the sector has continued to increase turnover whilst gross profit It is now widely known that HMRC is implementing the Whilst there is a Small Business Exemption, there is still no margin rates have held steady. However, Brexit uncertainty change to combat VAT ‘missing trader’ fraud in the sector watertight definition of what will constitute a small business. is now weighing heavily on the industry and there is an which is estimated to cost the Treasury £100m per annum. expectation that materials could become more expensive as If the burden of operating IR35 leads to increased costs in sterling devalues and labour will become scarcer and more VAT-registered sub-contractors who work exclusively for respect of employer’s National Insurance Contributions (NIC) expensive. At time of drafting, the matter is yet to be resolved. main contractors will cease to collect VAT on their services. – currently 13.8% and the application of the Apprenticeship The right to reclaim VAT on costs is unaffected and will result Levy – the impact on contracts, margins and costings could The content of Sajid Javid’s first budget as Chancellor of the in regular VAT repayments being due from HMRC. This will be significant. Exchequer is also unknown, although it is hoped there will be a burden on cashflow for sub-contractors who may now be more clarity in respect of the government’s commitment wish to consider monthly VAT returns. MHA Macintyre Hudson understands the nature of the to infrastructure projects and other measures designed to construction industry and the challenges faced. We work free up the construction industry, such as reducing Stamp In contrast, the cashflow position of main contractors should with a wide range of clients in the sector – including Duty Land Tax liability. improve. They will cease to pay VAT to subcontractors commercial and residential developers, contractors, sub- and will instead self-account for VAT on these supplies, contractors, civil engineers, and architects – guiding a VAT Domestic Reverse Charge reclaiming this VAT under the normal rules at the same time business from start-up, through growth strategies and The construction sector is also facing significant changes on a VAT return. surviving a changing economy, all the way to exit planning. to the taxation system, and companies need to be aware of these. The first relates to the VAT Domestic Reverse Charge Off Payroll Workers Glen Thomas (DRC), effective from 1 October 2019. From that date sub- Another change, which is due to be implemented from April Tax Partner contractors in a CIS chain of supply cease to collect VAT 2020, is the extension of recent IR35 changes to the private MHA McIntyre Hudson from other contractors. In its place a reverse charge system sector. This will shift any liability from the subcontractor to [email protected] applies. This makes the buyer of a sub-contractor’s service the ‘employing’ company. 03330 100 220 liable for VAT accounting in place of the supplier.

56 Kent Property Market Report 2019 The Kent business tends to focus on the higher-end projects All sounds a bit too down to earth? Well, the business is Contributor that may not necessarily be in public view, such as the bristling with technology, from tablet-based quality systems mammoth Amazon distribution centre in Grain, while also and mobile phone apps to promote safety, all the way up to the Sainsbury superstore in Broadstairs. BIM accreditation. With over 400 employees on the books, plus sub-contractors and suppliers, our business makes a As a group, O’Keefe is active in all sectors of the industry significant contribution to the local economy. – residential, education, retail, leisure and infrastructure – and with an annual turnover of nearly £80m operates in Like to know more? Check out our website at: a number of roles, working directly for selected clients as www.okeefe.co.uk principal contractor as well as the more traditional roles of trade contractor and sub-contractor.

The group has evolved considerably over the past five decades and as well as the Kent and London divisions now also incorporates demolition and soil stabilisation businesses. PHOTO: GOODMAN PHOTO: The O’Keefe Group is proud to be supporting the 28th annual Kent Property Market Report

The group is a second-generation, family-owned business which celebrates 50 years of continuous trading next year. The business is founded on four core principles that are, in order of priority, safety, quality, programme certainty and commercial success.

Most of us have been through the Blackwall tunnel at some point in our travels and the unmistakable O’Keefe logo sits proudly on the side of our office in Greenwich where the business was founded. That is what perhaps fuels the perception that we are still very much a London specialist contractor focused on concrete frames.

True, we have worked on some of the most iconic London projects, including Crossrail, the Olympic Park and Wembley Park. But for the past eight years, the Kent division of O’Keefe has established itself firmly in the regional construction market.

Just over three years ago we acquired freehold premises in Borough Green and began to develop what is to become our group headquarters, and later this year, the group hub will relocate from Greenwich. Amazon Sortation Facilities at London Medway Commercial Park, Kingsnorth, Rochester.

Kent Property Market Report 2019 57 Contributory Sponsors’ Articles PHOTO: CLAGUE ARCHITECTS CLAGUE PHOTO: Another specific area where RICS has called for Government Contributor action is in strengthening our local authority planning departments. They have suffered under 10 years of financial cuts but they need to be at full strength to tackle the challenges town centres and high streets face. On the specific point of Permitted Development Rights (PDRs) which allow changes from commercial to residential use unchecked by planning experts, RICS has questioned the quality and suitability of some conversions and the government has agreed to review their practice.

More generally, in a recent RICS Q2 Commercial Market Survey, respondents stated that Brexit was still a major drag on market behaviour, with top lines emerging out of the survey at a national level predicting rents and capital values to fall further across prime and secondary retail markets and demand continuing to outstrip supply. In addition, for the SME units, Waterbrook, third quarter in a row, demand from overseas investors fell across all areas of the market. Brexit continues to be the dominant topic or both. In the context of a post-Brexit England, such an of politics and the news approach will be untenable. Another fundamental element Outlook for the South East mirrored the national results, to high street, town and city centre growth is infrastructure, including respondents reporting over the next twelve This year has also seen concerns over the retail sector and most notably transport and broadband, infrastructure is months that further solid growth in capital values is expected business rates as increasingly dominating issues. RICS has intrinsically linked to investment and in the current political across the prime industrial and office sectors. However, retail put the rejuvenation of our towns and high streets as one climate there is already a lot of uncertainty around growth capital value projections remain deeply negative. Looking of our three policy priorities, alongside housing supply and and attracting investors. across the market, 53% of respondents feel the South East climate change. market is in some stage of a downturn (with this proportion An important factor which companies consider when they virtually unchanged over the past three quarters). There has been a fundamental change in our high streets, are making investment decisions is the transport links and most recently with the increasing, some say unfair, connectivity. Given the longevity of service provision, such RICS welcomes the opportunity to once again contribute competition faced from online shopping. In fact, the malaise infrastructure assets are intrinsically linked to the causes to and support the Kent Property Market Report. This is the has been evident for a lot longer as high streets and town of climate change. While mitigating considerations can be 28th edition showcasing the continuing importance and centres have had to compete against mega supermarkets, factored into planning and design of projects, the processes value of this report to highlight major initiatives, projects, out of town retail parks, changing consumer tastes and of construction, maintenance, and operation can significantly growth and outlook of the region in the coming year. under investment. If our high streets are to survive then we contribute to the problem. Therefore, decisions made at the need urgent action – but what more can be done? There are front end of design which may seek to address climate change At the time of writing there is still no clarity on when the UK a number of ways that RICS is responding. impacts, on which the client has to agree, must be supported by will leave the EU and under what circumstance and deal, cost data. RICS has been working closely with the International but RICS looks forward to seeing the continuing resilience, In April, RICS responded to the Treasury Select Committee Construction Measurement Standards Coalition (ICMSC) and a investment and growth within Kent. Call for Evidence into the impact of business rates. We put powerful new standard ICMS 2nd Ed. (ICMS2), is to be published forward a strong opinion that the current business rates in autumn 2019. This extends the current global standard into Geoff White, system no longer represents the four pillars of fair taxation. life cycle costs and enables decision-makers to assess the cost RICS National Lead Examination of the last Budget shows that Government is impacts of design trade-offs; critical in achieving sustainable Commercial Policy and High Streets, UK Markets anticipating revenues from business rates will reach £34.5bn design. RICS’s priority is helping to deliver better standards by 2023/4. This will require either a significant increase in and regulations within the built environment and works to Opposite: Elwick Place, Ashford. the base (unlikely) or an uplift in the Uniform Business Rate, persuade the UK Government to embed these into industry. Photo: Ady Kerry / AK Photography

58 Kent Property Market Report 2019 Kent Property Market Report 2019 59 ESSEX

62 54 LONDON 59 7 34 60 4 63 47 64 44 18 35 45 53 5265 61 23 57 29 26 13 19 28 38 51 31 15 2 67 11 14 40 12 1 70 49 39 68 37 9 8 36 69 30 42 16 58 5 3 24 KENT 10 25 50 66 43 33 71 55 22 27 21 48 6 32 56 46 17

41

Eurostar High Speed One 20

EAST SUSSEX

See table for numbered individual developments FRANCE ESSEX Strategic Developments Key and usage codes for strategic developments: Business Parks A1 Shops & retail D1 Education, crèches Mixed Use B1 Offices, light industry D2 Leisure Industrial B2 General industrial R Residential 62 59 54 Regeneration B8 Warehouses, distribution Sui Generis Petrol station, LONDON 7 34 Science Park C1 Hotels car showroom 60 4 44 18 63 47 64 Office Quarter 35 45 53 5265 61 23 57 29 Map no. Scheme Location Usage Contact Website 26 13 19 1 Abbey Court Sandling B1 Harrisons, 01622 692144 38 28 51 31 2 Altira Business Park Herne Bay B1, B2, B8 Sinclair Clark, 020 7494 9399 / Core Commercial, 01892 834483 / altirapark.com 15 2 Terrace Hill Urban & Civic, 020 7509 5555 67 11 3 Betteshanger Business Park Deal B1 Betteshangerparks.co.uk 01304 619227 betteshanger-business.co.uk 14 40 4 The Bridge Dartford B1, B8 JLL, 01322 629230 / Prologis 0121 2248700 thebridgedartford.co.uk 49 12 1 70 5 Canterbury Business Park / Highland Court Canterbury Quinn Estates, 01227 831212 canterburybusinesspark.co.uk 39 68 37 6 Cheriton Parc Folkestone B1 Motis Estates, 01303 212020 Motis-estates.com 9 7 Crossways Dartford B1 Caxtons – 01474 537733 / Watson Day – 01634 668000 / crosswayskent.com Altus Group – 01322 285 588 8 36 69 30 42 East Malling Adv Tech Horticultural Zone Tonbridge B R&D East Malling Trust 01732 872064 emt-planningforthefuture.co.uk 16 58 8 5 9 Eclipse Business Park Maidstone A1, B1, C1 Gallagher Group, 01622 716543 / Sibley Pares, 01622 673086 eclipsepark.co.uk 3 10 Eureka Business Park Ashford B1 Martine Waghorn, 01622 672233 – 11 Eurolink East Five Sittingbourne B1, B2, B8 Harrisons Chartered Surveyors, 01634 265900 / JLL, 0207 493 4933 – 12 Former Aylesford Newsprint Aylesford B1, B2, B8 JLL, 020 7399 5223 – G Park Sittingbourne Sittingbourne B1, B8 CBRE, 020 7182 2000 / GVA, 020 7895 1515 / Savills, 020 7499 8644 gpark-sittingbourne.com 24 13 14 Innovation Park Medway Rochester B1, B2, B8 Medway Council, 01634 333333 medway.gov.uk/business KENT 15 Joseph Wilson Industrial Estate Extension Whitstable B1 George Wilson Developments, 01227 263077 georgewilsonholdings.com 10 25 16 Kings Hill West Malling A1, B1, D2, R Liberty Property Trust UK, 01732 223426 / Altus Edwin Hill, 01322 285588 / kings-hill.com Knight Frank, 020 7629 8171 / Hanover Green, 020 3130 6400 50 Link Park Lympne B1, B2, B8 Core Commercial, 01892 834483 – 66 43 55 17 33 22 71 18 London Thamesport Rochester B1, B2, B8 Sui Generis Hutchison Ports, 01634 271511 londonthamesport.co.uk 27 48 21 32 19 Manston Business Park Ramsgate B1, B2, B8 East Kent Opportunities, 01622 221380 / Savills, 01732 789716 – 6 Mountfield Road Industrial Estate New Romney B1, B2, B8 Folkestone and Hythe Council 01303 853000 folkestone.works 56 46 17 20 21 MOJO Ashford B1c, B2, B8 DTRE 020 3328 9080/ JLL 020 7493 4933 mojo-kent.co.uk 22 Orbital Park Ashford B1, B2, B8 Trade Altus Group, 01322 285588 / BNP Paribas Real Estate, 020 7629 7282 orbitalpark.co.uk 41 23 Queenborough / Rushenden & Neats Court Isle of Sheppey B1, B2, B8, Ancillary Savills, 01732 879050 – 24 Tonbridge Trade Park Tonbridge B8 Chancerygate 07823 330853 tonbridgetradepark.co.uk Eurostar 25 White Cliffs Business Park Dover B1, B2, B8 Dover Council, 01304 872420 Citycourt Developments 01799 528600 citycourtdevelopments.co.uk 26 Bardell Wharf Rochester A1-A5, B1-B2, D1-D2, Quinn Estates, 01622 684407 www.quinn-estates.com High Speed One Sui Generis 20 27 Biggins Wood Folkestone Mixed Use Folkestone and Hythe Council 01303 853000 folkestone.works 28 Chatham Centre and Waterfront Chatham A5, C1, C3 Medway Council, 01634 333333 medway.gov.uk/business 29 Chatham Maritime Chatham B1, C1, C3 Chatham Maritime Trust, 01634 891888 cmtrust.co.uk EAST SUSSEX 30 Cockering Farm / Thanington Park Canterbury Mixed Use, B1 Quinn Estates, 01227 831212 quinn-estates.com 31 EuroKent Business Park Ramsgate A1, B1, B2, B8, D2 Rosefarm Estates plc, 01243 785151 – Folkestone Mixed Use Folkestone Harbour Company, 01303 254597 folkestoneseafront.com See table for numbered 32 individual developments 33 Former Cinema Site / Belvedere Tunbridge Wells Mixed Use Elysian Residences 020 7004 1773 elysiantunbridgewells.com FRANCE Kent Property Market Report 2019 61 Strategic Developments, Contacts and Acknowledgements

Map no. Scheme Location Usage Contact Website 34 Former Grain Power Station Hoo Mixed use Uniper 0121 329 4350 – 35 Former Kingsnorth Power Station Hoo Mixed use National Grid 020 7004 3000 – 36 Former Royal Mail Sorting Office Maidstone Mixed Use Caxtons, 01474 615615 – 37 Fort Halstead Sevenoaks Mixed use CBRE 020 7182 2000 / 020 7182 2056 jtp.co.uk/projects/fort-halstead 38 Herne Bay Commercial Quarter Herne Bay B1 Quinn Estates, 01227 831 212 quinn-estates.com 39 Hoplands Farm Canterbury Mixed Use, B1 Quinn Estates, 01227 831212 quinn-estates.com 40 Love Lane Faversham Mixed use Vinson Trust 41 Martello Lakes Hythe Mixed Use Barratt Homes, 0844 8549936 barratthomes.co.uk 42 Mountfield Park Canterbury Mixed Use, B1 Corinthian Land mountfieldpark.co.uk 43 Newtown Works Ashford Mixed Use Quinn Estates 01227 831212 quinn-estates.com 44 Northfleet Embankment East Gravesham B1, B2 Ebbsfleet Development Corporation, 0303 444 8831 / ebbsfleetdc.org.uk Gravesham Borough Council, 01474 337 258 / Homes England 45 Northfleet Embankment West Gravesham B1, B2, B8, R David Lock Associates 01908 666276 / EDC 0303 444 8831 / GBC 01474 337258 ebbslfeetdc.org.uk 46 Otterpool Park Folkestone Mixed Use Folkestone and Hythe Council 01303 853000 ottepoolpark.org 47 Panorama Crossways Dartford B1c, B2, B8 Altus Group, 01322 285588, Knight Frank, 020 7861 1550 chancerygate.com 48 Park Farm Folkestone Mixed Use Q+A Planning, 020 3542 2241 – 49 Perry Court Faversham Mixed Use Hallam Land Management, 0114 255 5444 perry-court.co.uk 50 Port of Dover Dover Mixed Use Dover Harbour Board, 01304 240400 doverport.co.uk/dwdr 51 RiverOak Ramsgate Mixed use RiverOak Ltd rsp.co.uk 52 Rochester Riverside Rochester A1-A5, B1-B2, C1, D1-D2, Countryside, 01634 776506 countrysideproperties.com Sui Generis 53 Strood Waterfront Rochester A1-A4, C1-C3,B1 Medway Council 01634 333333 medway.gov.uk/business 54 Swanscombe Peninsula Dartford/Gravesham B1,D1,D2,R David Lock Associates 01908 666276 / EDC 0303 444 8831 / DBC 01322 343434 ebbsfleetdc.org.uk 55 Terlingham Gardens Hawkinge Mixed Use Pentland Homes, 01303 864 590 pentlandhomes.co.uk 56 Waterbrook Park Ashford B1, B2, B8, Sui Generis GSE Group, 01233 501301 / Sibley Pares, 01622 673086 / waterbrookpark.co.uk Knight Frank, 020 7629 8171 57 Whitecliffe (Eastern Quarry) Dartford A1,B1,C1,D1, R Henley Camland 01483 617070 / EDC 0303 444 8831 / DBC 01322 343434 henleycamland.com 58 Woodcut Farm Hollingbourne Mixed Use Roxhill, 01788 422 200 roxhill.co.uk 59 450 at ThePowerhouse, London Dartford B8 Colliers 020 7344 6730/ DTRE 020 3328 9080/ JLL 020 7493 4933 thepowerhouse.london 60 Capacity Dartford Dartford B2, B8 Exton Estates, 020 7499 8020 / Savills, 020 7499 8644 / Dowley Turner Real Estate, 020 3328 9080 capacitydartford.com 61 London Medway Commercial Park Rochester B1, B2, B8 Sui Generis Goodman UK Logistics, 0121 506 8100 / CBRE, 020 7182 2000 / londonmedwaycp.com Colliers International, 020 7344 6730 / Caxtons, 01474 567666 62 Prologis Park, Littlebrook Dartford B2, B8 Prologis 0121 2248700 cbre.co.uk 63 Port of Sheerness Isle of Sheppey B1, B2, B8 Peel Ports, 01795 596596 peelports.com 64 Ebbsfleet Central Ebbsfleet A1, B1, C1, D1, D2, R CBRE, 020 7182 2016 / Land Securities 020 7024 5460 / Savills 08444 700599 / ebbsfleetvalley.co.uk EDC 0303 444 8831 / GBC 01474 337 258 / DBC 01322 343434 65 Chatham Waters Chatham A1-A5, B1-B2, C1, D1-D2, Peel Ports, 01795 596596 chathamwaters.co.uk Sui Generis 66 Royal Victoria Place Tunbridge Wells A1, B1,D2 British Land 020 7486 4466 britishland.com 67 Sittingbourne Town Centre Sittingbourne Mixed use Swale Borough Council, U+I Group Plc, Quinn Estates and spiritofsittingbourne.com Essential Land 01227 831212 68 Discovery Park Sandwich B1, B2, B8 Discovery Park Ltd, 01304 614060 discovery-park.co.uk 69 Kent Medical Campus Maidstone A1, B1, C2, D1 DHA Planning, 01622 776226 / JLL, 020 7399 5033 kentmedicalcampus.com 70 Kent Science Park Sittingbourne B1 Kent Science Park, 01795 411500 kentsciencepark.com 71 Commercial Quarter Ashford B1a Quinn Estates, 01227 831212 / George Wilson Developments, 01227 263077 / – Altus Group, 01322 285588

62 Kent Property Market Report 2019 Contributors: Handelsbanken Contacts With over 200 branches in the UK offering a full banking service, Handelsbanken is well placed to deliver long term relationships on Clague Architects a local level. For full list of branch managers contacts, see page 55. Clague is an award winning practice of architects, master planners, urban designers, interior designers and historic Trevor Adams, Branch Manager building consultants working from design-led studios in Handelsbanken, London; Canterbury and Harpenden in Hertfordshire.. Corinthian House, Galleon Boulevard, The firm celebrated 80 years of practice in 2014, and an amazing Dartford DA2 6QE track record in its specialist sectors. Extensive experience, gained Tel: 01322 285 265 / 07528 657 996 from designing an extremely wide variety of projects of differing Email: [email protected] Written and compiled by: type, scale and complexity throughout the UK, has allowed www.handelsbanken.co.uk/dartford Clague to develop invaluable knowledge that feeds into all aspects of our work. Kent County Council MacIntyre Hudson For further advice, assistance and information on Karl Elliott, Managing Partner MHA MacIntyre Hudson is a national Top 15 chartered development opportunities, contact: Clague Architects accountancy and business advisory firm with offices in Canterbury 62 Burgate, Canterbury CT1 2BH and Maidstone. Our Kent team offers a comprehensive range Nigel Smith, Head of Development Investment Tel: 01227 762060 Fax: 01227 762149 of services including tax, audit, business strategy, corporate Kent County Council, Invicta House, www.clague.co.uk finance and business recovery to owner-managed businesses, Maidstone ME14 1XX multinationals and high net worth individuals across the south east. Tel: +44 03000 412438 Cripps Pemberton Greenish Glen Thomas, Head of Construction and Real Estate Kent Email: [email protected] Cripps Pemberton Greenish is one of the country’s leading www.kent.gov.uk MacIntyre Hudson MacIntyre Hudson legal practices serving real estate, corporate and private clients. 71 New Dover Road Victoria Court With offices in Kent and London, the firm offers a flexible team Canterbury CT1 3DZ 17-21 Ashford Road Caxtons of more than 450 people to deliver exceptional service to its Tel: 03330 100 220 Maidstone ME14 5DA Caxtons, chartered surveyors, established in 1990, is one of the clients. The firm builds, equips and continuously strengthens Tel: 03330 100 221 largest independent property practices in the South East offering its teams, investing in the best talent and technology to deliver Email: [email protected] a full range of agency, management, professional and surveying this service. By making ‘how we do it’ as important as ‘what we www.macintyrehudson.co.uk services across all property sectors. do’ Cripps Pemberton Greenish has built a unique culture and Neil Chatterton, Managing Director capability designed around our clients’ needs. The O’Keefe Group Head Office: Mike Scott, Head of Real Estate The O’Keefe Group is a contracting business James Pilcher House, 26 Hollingworth Court, Cripps Pemberton Greenish providing a range of services to public, private and residential 49/50 Windmill Street, Turkey Mill, Number 22, Mount Ephraim, sectors of the construction industry predominantly in London and Gravesend DA12 1BG Ashford Road, Tunbridge Wells TN4 8AS the South East. Our Services include: Groundwork, Bulk Excavation, Tel: 01474 537733 Maidstone ME14 5PP Tel: +44 (0)1892 506 101 Demolition, Soil Stabilisation, RC Structures and Cores, BIM. Fax: 01474 537039 Tel: 01622 234886 Email: [email protected] The O’Keefe Group Email: [email protected] www.cripps.co.uk Cricketts Farm Business Park Web: www.caxtons.com Borough Green Road DHA Planning Ightham TN15 9JB Locate in Kent Ltd DHA is a creative team of professional Town Planners, Highway, Tel: +44 (0)1732 883 494 As the single point of contact for all companies looking to set up, Infrastructure, Design and Environmental Consultants working www.okeefe.co.uk expand or relocate in Kent and Medway, Locate in Kent provides from offices in Maidstone and . We provide a Email: [email protected] a comprehensive, confidential and free business relocation and comprehensive and integrated service to some of the UKs expansion advisory service. largest landowners and developers in both the private and Royal Institution of Chartered Surveyors public sector throughout the UK. Gavin Cleary, Chief Executive The leading professional body on all aspects of real estate, First Floor, International House, Alex Hicken, Managing Director DHA Planning property, construction and associated environmental issues. Dover Place, Ashford TN23 1HU Eclipse House, Eclipse Park, Geoff White, Policy Manager Tel: +44 (0)1732 520 700 Maidstone, Kent ME14 3EN Commercial property, business rates & regional devolution Email: [email protected] Tel: 01622 776226 Tel: ++44 (0)7792 760921 www.locateinkent.com www.dhaplanning.co.uk Email: [email protected] Email: [email protected] www.rics.org

Kent Property Market Report 2019 63 Strategic Developments, Contacts and Acknowledgements

Opposite: Proposal for Newtown, Ashford. Acknowledgments Photo: Quinn Estates

Back cover: Curious Brewery, Ashford. Photo: Curious Brewery / Ashley Gendek Photography Limited PHOTO: EAST MALLING RESEARCH STATION RESEARCH MALLING EAST PHOTO: The compilers of this report are grateful Kent District Councils: for the assistance, information and data Ashford, Canterbury, Dartford, Dover, provided by the following organisations Gravesham, Maidstone, Medway Council, in London and Kent: Sevenoaks, Shepway, Swale, Thanet, Altus Group Tonbridge & Malling and Tunbridge Wells. Broadlands Commercial Property Agents Ltd BTF Partnership We also thank: Clague Architects, Cripps Clague Pemberton Greenish, DHA Planning, Colliers International Handelsbanken, MHA MacIntyre Hudson, Cradick Retail O’Keefe, RICS, and Savills for their support DHA Planning and contributions to this year’s report. Discovery Park DTRE This report has been carefully prepared. Durlings However it is intended for general guidance Ebbsfleet Development Corporation only and neither Caxtons, Kent County George Wilson Holdings Ltd Council, Locate in Kent nor Clague Architects, Goodman Cripps Pemberton Greenish, DHA Planning, Guy Hollaway Architects Handelsbanken, MHA MacIntyre Hudson, Harrisons Chartered Surveyors RICS or Savills, can guarantee that there are Hometrack (part of ZPG) Investment Property Forum no errors or omissions. The information, Kent Science Park forecasts and opinions set out herein should Knight Frank not be relied on to replace professional Liberty Property Trust UK Ltd advice on specific matters. No part of this Local Data Company report should be published, reproduced or Martine Waghorn referred to without prior permission of Kent Michael Parkes Surveyors Ltd County Council. The O’Keefe Group Pillory Barn Printed by Gemini Print Southern Ltd Quinn Estates gemini-print.co.uk. Printed on 350gsm and RPC Land and New Homes 200gsm Claro Silk FSC Mix Credit certified Rosefarm Estates Plc paper from responsible sources. Savills Smith Woolley Designed by greenwooddesign.co.uk Stafford-Perkins Visit Kent Ltd Copyright ©Kent County Council 2019 Zoopla Proposal for the East Malling Advanced Technology Horticultural Zone.

64 Kent Property Market Report 2019

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