- Occupier demand remains firm as Basingstoke leads take-up across Surrey and North Hampshire
Industrial take-up across Surrey and North Hampshire remained solid through the first nine months of 2025, with strong demand in Basingstoke and stable activity across the Blackwater Valley helping to balance slower performance in Andover and constrained availability in Woking and Guildford. New research from Curchod & Co shows total take-up across Andover, Basingstoke, the Blackwater Valley and Woking/Guildford highlights the underlying strength of the industrial and logistics market in the South East.
Basingstoke recorded the highest take-up, reaching 443,587 sq ft between Q1 and Q3, nearly three times the level seen during the same period in 2024. Activity was driven by a number of key lettings at Kingsland Business Park and Intec, alongside new development at Radius Park and Leftfield Park.
Andover saw take-up of 22,643 sq ft, significantly below last year’s total. A number of larger deals are currently under offer, which are expected to boost figures by the end of 2025. Availability remains low at 4.8% of total stock, limiting activity but suggesting potential for developers targeting long-leasehold opportunities.
In the Blackwater Valley, take-up rose slightly to 136,060 sq ft, supported by occupiers moving from higher-cost locations nearer to Heathrow and London. Rents reached record highs at Frimley Business Park and Watchmoor Point, while new space is expected from developments at Bartley Junction and Angle 110.
Take-up in Woking and Guildford reached 83,130 sq ft, up from 64,562 sq ft in 2024. Activity was held back by a shortage of larger units, which has supported rental growth. Prime rents now range between £18 and £22 per sq ft, with further supply expected in 2026 from new schemes at Slyfield Industrial Estate and Guildford Business Park.
Headline rents across the region now range from £8.50 per sq ft in Andover to £25 per sq ft in the Blackwater Valley.
Piers Leigh, Partner at Curchod & Co, said: “Despite a few quieter pockets, the South East’s industrial market remains one of the most robust in the UK. Demand for well-located, high-quality space continues to outpace supply in most areas, and developers are responding with a new wave of speculative schemes.”