Online retailers made up 70% of all logistics and industrial s[ace take up in Oxfordshire in 2020 according to property consultant Savills.
Total take up of industrial space in Oxfordshire hit 1.6 million sq ft last year – a 113% increase on the long term average
Key deals saw DPD take 60,000 sq ft and Ocado take 163,664 sq ft at Tritax Symmetry’s Symmetry Park Bicester while 3PL Great Bear took 333,760 sq ft at Central M40 in Banbury.
Jan Losch, associate director at Savills, said: “The Oxon region saw exceptional take-up in 2020, surpassing both last year’s figure and the long term average. In line with the rest of the UK, demand remains high from occupiers looking for good quality, modern accommodation and those [developers]who choose to build speculatively will benefit from favourable market dynamics.”
As a result of strong transactional activity there has been downward pressure on supply, meaning that there is now less than 0.4 million sq ft of Grade A space currently available in the region. This will see recently completed schemes and those that can be delivered within the next 12-18 months benefit from ongoing demand.