Demand for commercial space at a 'record high' in Newhaven

According to a report commissioned by Newhaven Enterprise Zone (NEZ) and conducted by Flude Property Consultants, demand is at a record high with commercial property now outstripping residential in the East Sussex harbour town.

The NEZ says if land is released for warehouse and industrial development in the town now, Newhaven will be in pole position to attract more businesses from across the region where demand is high.

Corinne Day, NEZ Programme Director, said: “We’ve been working hard to boost business growth in the area since 2017. Those efforts are now paying off and we’re seeing a spike in interest.

“Newhaven is fast becoming home to a booming and diverse economy with several successful international and national businesses, with sectors including maritime, manufacturing, distribution and healthcare to name a few.

“The next step is to unlock more sites for commercial space to allow existing local businesses to expand and attract new businesses to the town.”

Central to NEZ’s strategy is to encourage local landowners to release new sites and to refurbish existing industrial and warehouse space.

Corinne explained: “If landowners act now, there’s an opportunity to capitalise on the increased demand and attract businesses.

“Commercial rents have increased significantly and we’ve heard from several businesses in the area who are growing and would like more space to expand in the future.

“There is very little available warehouse or industrial space across Sussex so the opportunities for Newhaven are significant.”

HAVE YOU READ THIS?

Ringmer residents to protest lorries using village as a rat run

Number of Lewes residents claiming unemployment benefit falls by 35%

Ouse Valley wins £2 million funding for climate action

Traditionally, residential opportunities have trumped commercial in the area, but commercial rents have experienced a significant upswing.

Since 2018, Newhaven industrial rents have increased from £6 per square foot to £10, as a result of an increased uptake in available stock in that time frame.

Corinne added: “There are many positives we can take from this. On the one hand, industrial property owners stand to gain if they move fast. On the other, making more commercial space available will boost investment in the town, which in turn will drive employment opportunities for local people and boost visitors to the town centre.”