Crawley

Crawley’s office market has been particularly challenged during the Pandemic due to its links with Gatwick Airport and the travel industry.

In response to the effects on the economy from the pandemic, Central Government has a high profile programme of expanding the national network of Job Centre Plus and the only Q4 deal in Crawley was DWP’s acquisition for this purpose of 12,704 sq ft on the ground and second floor of Columbia Threadneedle’s 1 Forest Gate at a headline rent of £27.50 per sq ft – the highest rent of the year.

This takes total take-up in the town to 46,000 sq ft which is approximately 25% of the 5-year annual average – the majority of the take up was in the out of town market which is where 81% of supply is – total supply currently stands at 418,000 sq ft.

Several sites in the out of town market of Manor Royal, either with offices on them or suitable for office redevelopment have been sold for warehouse use with further sites rumoured to be considered for sale. Not good news for the office market but positive for the town.

Q4 TAKE-UP

Town Centre

3,190 sq ft

Out of Town

12,700 sq ft

Grade A: 0 sq ft

Grade B: 15,900 sq ft

ANNUAL TAKE-UP

CRAWLEY VACANCY RATES Q4 2020

5.1% 9.9%

HEADLINE RENT

Town Centre

£27.50 per sq ft

Out of Town

£27.50 per sq ft

KEY SECTOR ACTIVITY

Public Sector

12,704 sq ft (79.9%)

Computing & Software

3,191 sq ft (10.2%)

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