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According to a new research from Cushman & Wakefield.
New research from Cushman & Wakefield shows that overall take-up for 2020 is expected to surpass the 10-year average of 33 million sq ft.
The company said that there was a further 16 million sq ft of long-term deals under offer at the end of the second quarter, and on that basis take-up is likely to surpass the 10-year average of 33 million sq ft this year.
A significant amount of space is under offer to e-commerce occupiers, in what could be a record year for the sector in terms of net absorption.
Richard Evans, head of UK Logistics and Industrial at Cushman & Wakefield, said: “The latest data supports the theory that the logistics sector has emerged from the crisis of the pandemic in positive shape. Online sales have grown exponentially, the data driven economy will boost demand from the data centre sector and moving forwards occupiers across many sub-sectors will look to increase inventory levels because of their experiences during the pandemic.
“However, given the challenges of lockdown and the wider economic climate developers have been quick to adjust their speculative programmes, with most schemes being reviewed, and some delayed. This should help prevent oversupply despite the inevitable business failures we expect to see over the course of the year.” Read more
Source: LOGISTICS MANAGER
