Commercial property market boom
by Aileen Murphy Fri 24 February 2017, 4:45 pm
Enfield’s commercial property market has significantly improved in the last three years, according to economic analysis.
The market, which is dominated by the industrial and distribution sector, has seen a spike in demand for warehouse and distribution buildings.
The study, by property consultant Glenny, found that the demand for development outweighs supply by a factor of 4:1.
Schemes such as Segro’s Navigation Park, a warehouse and office space, which is the first carbon neutral warehouse development in the UK, point towards a willingness for occupiers to agree terms before the construction is completed.
Camden Town Brewery took 5,295sq m at the park early on in the construction of the site.
DFS and Cooks Delight signed for units of 4,134sq m and 4,645sq m respectively, both relocating to Enfield Distribution Park. They signed for space before the building’s completion citing confidence in the area.
The study suggests that rent and capital values have risen by 25-30% since 2013. However the area is still regarded as ‘good value’.