Changing Face Of The Office Market

This particular segment of the commercial property world is evolving at a pace and we are seeing demand for office space outstrip supply, with the reported sale of Calverley House for residential redevelopment set to further impact the shortage of good quality office space in the town.

There is a growing shift away from traditional leases as businesses change the way they work, particularly those in the start-up and technology sectors. The market for short leases and more flexible space is evolving.

It’s good news therefore that Spa House on Upper Grosvenor Road has been retained as offices. Having undergone a complete refurbishment, it offers small office suites with typical sizes around 500 sq ft. James Frank Associates and Denim Creative have already taken occupation – whilst the works are being completed – and other suites are under offer.

In London, serviced office providers such as Regus are now competing with an explosion of co-working spaces from the likes of WeWork and Workspace, all of which are reporting huge popularity for these new concepts in office working.

Planning consent has recently been submitted for a change of use of The Corn Exchange in The Pantiles to a co-working business centre. The first of its kind in the town, we are confident there will be a healthy demand for this space.

Meanwhile, Durlings has continued to be busy working on the limited office stock available including:
Arranging the letting of the former Cripps law offices at Wallside House in Mount Ephraim Road to EPG, who have expanded and relocated from The Pantiles.
Helping Independent Financial Advisors Hitchell Associates relocate from St Johns Road to Lonsdale Gardens.
Letting space to Halcyon Wealth to establish a satellite of their City offices in Mount Ephraim Road.
On the High Brooms Industrial Estate, where Pentair, Spotted Zebra and Sugar Marketing have all taken up occupation in Chapman House.

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Durlings have the expertise and local knowledge to carry out commercial valuations. Durlings are also able to offer both landlords and tenants representation in rent review or lease renewal negotiations. Find out more

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22 Mount Ephraim Road,
Tunbridge Wells,
Kent. TN1 1ED

t: 01892 552 500 | f: 01892 535 526

01892 552 500