Retailers and 3PLs have had to delay scheduled moves into big shed warehouses due to a shortage of good properties. The UK big shed market has paused in the three months up to June according to data from a Gerald Eve survey.
Data from the survey suggests that the UK’s big shed logistics market has decreased by 19% in the second quarter of this year in comparison to the first quarter. Total take-up was at 8.4 million sq ft, compared to 9.8 million sq ft in the first quarter.
There is however over 13 million sq ft of industrial space now under construction with completion expected this year or next, development is at its highest level since 2008. The raft of development is expected to rectify the supply/demand imbalance in the market.