Search Company:
The amount of speculative warehousing space hit 1.8 million sq.
The amount of speculative warehousing space hit 1.8 million sq ft the highest amount taken up in a single quarter since 2012 according to Cushman & Wakefield’s latest property research.
The availability of Grade A space has risen by 50% over the year, bolstered by an increase in speculative development, which reached 10.5 million sq ft under construction.
Total take-up reached 6.5 million sq ft, up 43 per cent on the same period in 2017, according to research from Cushman & Wakefield.
Retailers and eRetailers continued to drive demand, accounting for 44 per cent of take-up volume, making up for a quieter manufacturing sector which saw 21 per cent of take-up, compared with 30 per cent last year. In one of the largest deals of the quarter, Amazon committed to a new 360,000 sq ft purpose-built warehouse at M6 Major Haydock in Merseyside.
The availability of new stock is driving prime rents, with the North West registering the strongest prime rental growth over the year (6.2 per cent), followed by London (5.9 per cent) and Yorkshire (5.5 per cent). Read more
Source: LOGISTICS MANAGER
