Survey Says: Demand for Commercial Space Strong in London Thames Gateway

The latest Kemsley LLP survey into the region's property market, supported by Gateway to London and launched at the Thames Gateway Forum exhibition at Excel, London (28-29 November 2007), reveals demand for commercial space in the Thames Gateway and Essex remains strong.

Despite increasing concern across the UK that the property sector is about to move into a downturn, Kemsley's fourteenth annual report into the region has found that demand for industrial space is particularly strong. London's manufacturing sector accounts for 9 per cent of all UK manufacturing, an output of £13.6bn. In London there are over 20,000 manufacturing firms, 4,500 of which are based in London Thames Gateway. Manufacturing productivity is higher in London than in any other UK region, and is growing at twice the pace. Manufacturing gross value added (GVA) in London is £51,600 compared to £39,600 nationally.

Aman Dalvi, Chief Executive of Gateway to London, said: "Our region is seeing a welcome return to form in one of its most traditionally significant, and much loved, business sectors - manufacturing. With the growth in new technologies, particularly environmental, there is a new breed of manufacturing companies emerging in the Thames Gateway, building the region into a leading centre for innovation and knowledge. We are confident that with ongoing investment in the region, demand for commercial property is set to grow over the years to come."

A major part of Gateway to London's work is to ensure the region's offer to business continues to evolve and grow and, as part of this, welcomes independent research into the future of the region's markets.

The report found that office based employment rates are also continuing to grow. This resilience is perhaps due to increasing Government investment (both financial and policy-led) in the region, including approval for Crossrail, arrival of High Speed 1 and the excitement surrounding the 2012 Olympic and Paralympic Games.

Kemsley LLP's fourteenth annual report is drawn from properties listed on the Gateway to London and egpropertylink.com (www.egpropertylink.com) databases, as well as from property information held by Kemsley LLP and key investment performance data supplied by Investment Property Databank (IPD).

Click here to see the report in full: Thames Gateway and Essex Report