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Industrial/Warehouse News
2022 has been a busy start for FHP’s Industrial and Logistics Team with 89 deals agreed that are either under offer, acquired, let or sold. This equates to a total square footage agreed in 2022 of 1,173,505ft², which includes both existing and new build properties all due to complete within 2022.
We understand from wider market data that the total take up of logistics space in the UK in terms of completed deals in Q1 2022 was 12,700,000ft², which is 79% above the long-term Q1 average. Supply has fallen to 16,800,000ft², the lowest level ever recorded reflecting a vacancy rate of 2.8% across the UK.
Most notably from the statistics, given the low level of supply in the marketplace, in Q1, 53% of total take up was either build-to-suit units or speculatively built new units, which is the highest level ever on record.
If you do have a requirement for industrial space or are struggling to find your next property, please do not hesitate to contact FHP’s Industrial and Logistics Team who would be happy to assist on 0115 9507577.