CBRE is reporting that at the end of the first quarter of 2021 there was 16 million ft2 of warehouse space under offer in the UK twice the level at the end of 2020.
However the amount of space taken up in the first quarter was lower than average reflecting the acute shortage of ready-to-occupy sites.
With that in mind investor developer Tritax is reporting in its annual results that it has “seen an increasing level of interest in the development pipeline as sites have progressed through the planning process and consents have been secured.”
The company expects an acceleration in letting activity from our land platform through H2 2021/H1 2022 aligned to the delivery of planning milestones.
The company owns and controls the UK’s largest logistics focused land platform capable of delivering approximately 40 million ft2 of logistics space.
It has just secured planning permission for the development of two speculative warehouses of 186,000 ft2 and 134,000 ft2 at its 111-acre Symmetry Park, Rugby scheme in the West Midlands. The development can accommodate up to 2 million ft2 of logistics space in buildings ranging between 100,000 ft2 up to 1 million ft2.”
Colliers International, Avison Young and M1 Agency have been appointed as marketing agents for Symmetry Park, Rugby.