Coming back in Crawley

Totting up the recent transactions, and those in the pipeline, reveals a healthier market in Crawley and Gatwick.

The main beneficiary is the industrial sector although there have been a number of office deals, such as Amey OWR Limited taking Explorer II which comprised 2,052 sq.metres (22,805 sq.ft.), through GVA and FTDJOHNS. Low Cost Holidays has also taken 1,394 sq.metres (15,000 sq.ft.) in Spectrum House, City Place. KBA were joint agents with FTDJOHNS. Tilgate 4, comprising 24,000 sq.ft. has been sold by Stiles Harold Williams and Knight Frank to OCS Group, which has resulted in OCS Group’s Gatwick site of 2 acres being released to the market.

“The notable change this year has been the number of transactions which have been completed on quality buildings, both in the office and industrial markets. The wave of interest in the industrial sector is starting to fall away due to lack of quality stock,” said Michael Deacon- Jackson of FTDJOHNS He noted that a shortage of suitable buildings was looming because some of those on the market had, for example, small yards or relatively low eaves. “Essentially occupiers want the exact building for their requirements,” Deacon-Jackson said. He also listed a wide range of deals that show that the market had broadened out, such as 3 new occupiers in Gatwick International. Another significant transaction was Tesco agreeing to lease 11,148 sq.metres (120,000 sq.ft.) distribution unit from Lynton. Eskimo Ice has completed its purchase of 1 Whitworth Road and the 4,181 sq.metres (45,000 sq.ft.) Axial is under offer in its entirety.