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69 sq ft of additional warehouse space will be needed per home in order to fulfil deliveries generated.
According to research from Savills, London is set to require up to 6.49 million sq ft of warehouse space per year, a 419 per cent increase on current levels, in order to keep up with the delivery of new homes in the capital.
The British Property Federation’s (BPF) ‘What Warehousing Where?’ report states that, at a national level, 69 sq ft of additional warehouse space will be needed per home in order to fulfil deliveries generated by the growth in online retail, which now accounts for as much as 21.4 per cent of all retail transactions in the UK.
Savills has calculated that in order to meet current demand for housing in the capital, London will need to build up to 94,000 homes per year. At present, based upon the five year average, only around 1.25 million sq ft of industrial development is completed annually in London, suggesting a potential short fall of 5.24 million sq ft of warehouse space a year. Read more
Source: LOGISTICS MANAGER
