RECORD RENTS AND LEADING OCCUPIERS SIGNAL NEW BERMONDSEY’S RENAISSANCE
Property investor and developer Howard Group has completed the occupier line-up at one of London’s most prominent trade parks, achieving record rents for the area.
RS Components, the world-leading distributor of electronics, joins DHL, Topps Tiles, Screwfix, Crown Decorating Centre and White Villa to bring Surrey Canal Trade Park, the 100,000 sq ft industrial estate on the borders of the Bermondsey and Lewisham boroughs, to full capacity.
As well as securing some of the biggest UK brand names on long-term leases, the industrial estate has attained impressive rental values that exceed the average for the area. A lack of available quality industrial stock, combined with the high quality buildings and prominent frontage has driven rents well over £15 per sq ft, almost £4 higher than the average for south London industrial stock.
Luke Osborne, head of industrial development at commercial agent, Kalmars, said: “The success of Surrey Canal Trade Park is down to Howard Group’s understanding of the market, the timing of the development and the design of prominent properties that meet the occupational needs of trade counter operators in terms of size, specification and location.
The growing popularity of ‘click and collect’ retail and the efficiency with which operators can provide goods to small businesses and members of the public means that the demand for such accessible and prominent properties remains high.”
Colin Brown, development manager at Howard Group, said: “We are extremely pleased to welcome RS Components to the trade park. With all units now let we can boast a healthy portfolio of occupiers who are thriving in this previously run down area of London.”
Surrey Canal Trade Park is situated on the Elizabeth Industrial Estate in New Bermondsey, an exciting regeneration zone and one of London’s most dynamic growth areas. Howard Group is committed to investing heavily in refurbishment and active asset management of the older buildings on the site to continue to bring high quality premises to the area.