Property squeeze

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Nearly 2 million sq ft of logistics warehouse space was snapped up in the South West last year, the highest level of take-up since 2008 according to new research by BNP Paribas Real Estate.

However, the level of new logistics units available on the market continues to decrease across the UK, with only two years’ worth of new supply in the South West in warehouses over 50,000 sq ft.

Jeremy Hughes of BNP Paribas Real Estate’s Bristol office, said: “As occupiers realise that there is a restricted amount of new stock coming onto the market, the demand for better quality second hand stock continues to increase, causing supply to further fall.

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