Despite the disappointing weather, a delicious Cream Tea was enjoyed by the 70 delegates at our popular summer event in June. We are very grateful to Kempton Carr Croft, Chartered Surveyors, for again sponsoring the tea, and also to Foxhills for hosting the meeting.
Director, Malcolm Kempton, gave us a Property Market Overview that was generally upbeat. He said that demand for commercial property is muted, with retail having the hardest time, and that business rates are still payable when property is vacant.
However, there has been huge growth and investment in property with a D1 use class, for non-residential institutions including clinics, day nurseries and vets. Demand for industrial property is also improving, showing some green shoots of recovery.
Prices are on the rise for residential property and demand for homes and land has improved. He considers that Crossrail will also create a high demand around the Heathrow area.
Paul Turrell, Chief Executive Officer, Runnymede Borough Council then updated us on the Council’s regeneration plans. He advised that French company Buoygues is the chosen developer for the Addlestone new mixed-use town centre. On the completion of several phases, by early 2017, the proposed development should include a hotel, small food store, flats, shops, restaurants and a multiplex cinema
(L-R) Mark Adams, Runnymede Business Partnership
Paul Turrell , CEO Runnymede Borough Council
Malcolm Kempton, Kempton Carr Croft