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News | Independent Commercial Property Agents | PAI

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Essex and Suffolk logistics and office sectors continue to flourish

Wednesday, 07 September 2022

Essex and Suffolk logistics and office sectors continue to flourish

Despite the current economic and political challenges, the Essex and Suffolk commercial property market has continued to thrive, with the office and industrial/warehouse sectors showing their resilience.

PAI members Fenn Wright are receiving a good level of enquiries for freehold properties across all sectors, from investors, occupiers and developers.  The ongoing shortage of supply has resulted in high levels of competition for the vast majority of freeholds coming to the market, which in turn has led to strong prices being achieved, typically in excess of guide prices and regularly involving cash buyers.

Occupational requirements within the office sector continue to evolve as flexible, hybrid working arrangements become an established practice.  More businesses now have a settled premises strategy leading to cautious, yet committed plans to acquire appropriate office space for their future needs.  There is now a clear trend amongst regional businesses to ensure they have the best and most flexible working environment they are able to secure.  Recently, the firm has helped a number of growing professional services firms identify and secure better quality offices.

Fenn Wright have seen ongoing growth within the industrial/warehouse sector.  The designation of Freeport East, comprising Felixstowe and Harwich Ports, together with Gateway 14, has further bolstered demand, as demonstrated by the The Range’s commitment to a 1.2 million sq. ft. distribution centre at the Gateway 14 site, which will provide approximately 1,650 jobs.  Sizewell C has now received planning permission and with the Government likely to announce an investment of £700 million in the next 24 hours, this major project will continue to fuel the local market.

The increase in activity within the logistics sector is clearly evident by the various large scale warehouse schemes which have appeared along the A14 corridor, yet demand still outstrips supply, with record rents and capital values being achieved on recent sales and lettings across all size ranges.  

Click here for a selection of properties currently available with the Commercial departments.

Pictured: 820 The Crescent, Colchester Business Park – To Let £90,000 pa