There is less than six months’ supply of new industrial stock in the Midlands according to CBRE’s latest statistics.
In the Midlands there is now just 7.12 million sq ft of industrial space available, down 12 per cent since the end of 2011. The availability of new space fell more sharply (down 30 per cent), with new stock accounting for around a third of the total available space.
Richard Meering of CBRE said: “There continues to be a severe shortage of new industrial stock in the Midlands, with less than six months’ supply left based on the long-term annual average take-up of 6.44 million sq ft.
“There is a distinct and severe lack of available stock, particularly large new kit, in the Midlands.”
“You can almost count the number of available buildings between 200,000 sq ft and 500,000 sq ft on one hand, and with strong interest being shown in a number of these units the shortage could be further compounded.