Take-up of warehouse space has increased by 40 per cent to 8.1m sq ft in the second quarter of 2012 compared with the first, according to DTZ.
DTZ’s Property Times UK Industrial report for the second quarter revealed that take-up of industrial space is at its highest level for two years and over 5 per cent ahead of the same period in 2011.
The report found that the profile of occupiers has changed in the last 12 months, with take-up by logistics companies increasing to 16 per cent, largely due to space being taken by Royal Mail and Parcelforce.
Grade A take-up fell for the fourth successive quarter, but the relative scarcity of means that despite the fall in take-up, availability fell 10 per cent to 18m sq ft.
The automotive sector was the driving force behind two of the larger lettings in Q2, with Vantec Europe taking 420,000 sq ft in the North East to service a Nissan logistics contract and Jaguar Land Rover operated by DHL, taking 405,000 sq ft in the North West to facilitate an expansion of its Halewood plant.