Busy in Bromley

Bromley is a good example of a steady commercial property market where development continues and companies are buying freeholds. The interesting point is that while the office lettings are normally of a small size some of this is accounted for by start ups as well as expansion. Jeff East of Acorn Commercial said: “The market is strong and steady and while values are not increasing and there is a slight over supply, deals are being done if the price is right.” One trend East noted was the increase in freehold sales, many of which go into company pension funds. There has also been a high rate of sales for development, “all for cash as it is so hard to borrow.”

Some of these are on sites for new developments, two involving new Travelodge hotels. One is the developments is St Johns House in Sidcup which is currently retailing, offices and a public house (a separate site) for an 80 bedroom Travelodge on the upper floors and a 1,301 sq.metres (14,000 sq.ft.) supermarket on the ground floor. The other Travelodge with 92 bedrooms is also part of a mixed use scheme in Bromley on the 37 London Road/2 Blyth Road site which had a hotel and snooker hall. It will have offices on the ground floor. Apart from these deals, Acorn has achieved planning for a variety of other schemes.


The Kent, Surrey and Sussex Commercial Property Register

The Commercial Property Register for Kent, Surrey and Sussex is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Kent Surrey and Sussex. You can also find the latest commercial property news for this region.