The amount of available commercial space in the city has fallen to its lowest level in the last ten years. This is a trend that is repeated across the southeast but the rising freehold cost of space appears to be most pronounced in Brighton & Hove
West Sussex County Council have purchased the freehold of a site in Bognor amounting to 68,950 sq.ft. on 2.68 acres of land for £1.5m. By comparison the freehold purchase of 16,000 sq.ft. of the old Dubarry building in Hove is on the market for £1.5m.
This demonstrates the high prices for freehold in the city compared to other areas of Sussex where on the one hand you can buy a building and land in Bognor equating to £21.75 per sq.ft. (with land etc) compared with £93.75 per sq.ft. (with little if any land) in Hove. This illustrates one of the problems associated with attracting inward investment into the city.
Click on download below for a comparison of commercial space availability in the south east region (pdf file 27KB)
Click here to download
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