Sussex-based commercial property agents Michael Jones report strong occupier demand in all sectors of the commercial market over the last six months but particularly for industrial premises where demand is now outweighing supply.
The lack of new developments within Sussex and the South East has resulted in a shortage of office and industrial properties and recent reports suggest it is at the lowest supply for 10 years.
A new speculative industrial development is under construction at the Rock Business Park, Washington, West Sussex providing a total of 60,000 sq ft.
11,600 sq ft. has already been let within phase one with a further 7,500 sq ft. under offer.
Occupiers on site include Carillion plc, Premier GT and Elling & Co and headline rents being achieved are in excess of £8 per sq ft.
Phase two is due to be completed by Autumn 2016.