Take up doubles in 2010

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According to King Sturge’s latest report on European logistics and industrial markets the UK take-up of new warehouse floorspace in units of 100,000 sq ft and over in 2010 doubled compared with 2009.

King Sturge Research Partner, Jon Sleeman says: “While take-up generally rose last year this was from a very low base in 2009. In addition, some of the demand last year was driven by opportunistic deals, with occupiers taking advantage of very competitive terms to acquire new facilities, or to renegotiate leases on existing ones.
“On the supply side, the recession caused a near moratorium on speculative development as major developers focussed on de-leveraging and leasing their vacant portfolios. Where new facilities were developed this was almost exclusively on a build to suit basis.”

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