Bidwells
Well informed

The Norfolk and Suffolk region is fast becoming established as a premier distribution location as the Port of Felixstowe builds its influence in post Brexit trade. The market saw a steady flow of lettings during 2020, pushing take up to an historic high, with over half a million sq ft of space acquired across the year. With little development over recent years, or indeed under construction, supply stands severely depleted.

Distribution demand, further bolstered by the acceleration in online retailing as a result of the pandemic, formed much of the activity. However, the Oxfordshire market has also seen strong take up from the S&T sector with the biopharma, electric automotive engineering and space sectors all active during the latter months of 2020.

Current requirements stand more than four times ahead of availability, with the science and tech sector’s growing influence on the market adding to the pressure. This is reflected in the demand for R&D space, with units of less than 20,000 sq ft representing more than half of total requirements by floorspace.