Midlands logistics sector on the rise

August 18, 2014 12:30 pm

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Take-up of commercial property in the Midlands logistics sector is up 20 per cent for first half of 2014. In total, 3.45 million sq ft of space was transacted across the region in the first six months of the year, compared with 2.87 million sq ft 12 months ago, according to new research by CBRE.

The East Midlands recorded the strongest performance with take-up totaling 1.93 million sq ft, compared with 1.52 million sq ft in the West.

There were a number of notable deals on existing space, including the acquisition of 255,000 sq ft at Langley 255 in Nottingham by DHL, and Task’s purchase of 233,000 sq ft at Citygate Park in Wolverhampton.

The most significant pre-let was in Thrapston in Northamptonshire where Primark has taken a one million sq ft unit.

Richard Meering, Senior Director in CBRE’s industrial agency team in the Midlands, said: “Once again, the logistics sector has recorded another set of strong take-up figures across the Midlands, demonstrating there is still a healthy appetite for space, particularly for sheds over 100,000 sq ft.

“In 2013, total take-up across the region was 7.22 million sq ft, which looks set to be surpassed if the take-up rate continues at its current level for the remainder of the year. The only caveat to this is the low level of available grade A stock and limited land supply, other than ‘oven-ready’ sites, which continue to characterise the market.”

If you’re looking for commercial property in the Ashfield and Mansfield area, Invest Ashfield & Mansfield offer a commercial property search which can help with your search and we have a dedicated page to show the various types of property available.

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