Warehouse availability in West London and the Thames Valley was slashed by 41 per cent last year according to Jones Lang LaSalle’s latest industrial market research.
Occupier take-up across the West London and Thames Valley market area in 2011 hit a 17 year high with some 6.1 million sq ft taken up. This was 45 per cent up on 2010 and 90 per cent higher than the 2009 recession.
In the Thames Valley markets, this was boosted by two large pre-lets in Reading involving Tesco (950,000 sq ft) and the Brakes Group (207,000 sq ft).
The availability of good quality Grade A industrial and warehouse floorspace fell by 41 per cent over 2011 to stand at 1.5 million sq ft at the end of the year. At the end of 2011, only 12 per cent of total availability was in Grade A premises.