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Bidwells launches its latest Our View on Industrial research. Industrial supply has struggled to keep pace with demand across the Bidwells’ market area. Following Amazon taking the lease on Altitude at Magna Park, the largest spec built logistics unit in the UK, demand for ‘big box’ space remains above trend.
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Activity in and around the Norwich market remains restricted by supply, leaving take-up at trend levels. This belies the scale of underling demand which now stands at a three year high, with availability below 5%.
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The first half of 2019 saw take-up in Milton Keynes already exceed that achieved in 2018 as a whole, helped in part by Amazon’s pre-let of Altitude at Magna Park. Overall, 1.1m sq ft were let in Milton Keynes over the last six months, pushing down the availability rate to 7%.
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Knowledge intensive businesses accounted for 50% of occupier activity in H1 2019. As the production of the new e-Mini gets underway at Cowley, Andretti Autosport has relocated its Formula E team to Banbury. Adding to this Oxford Nanopore started production at its new 34,500 sq ft facility at Harwell.
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Bidwells activity in the wider East Anglia market reached a new high in H1 2019 with over 2m sq ft let or purchased, including Huawei’s new R&D manufacturing facility at Sawston, Cambridge for a new R&D manufacturing company.
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Bidwells launches its latest Our View on Industrial research. Take up across the Oxford-Milton Keynes-Cambridge Corridor continued at above trend levels for the sixth consecutive year in 2018, with the majority of demand focused towards the M1 South industrial market. Download our research paper to find out more:
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The past 12 months has seen a record level of take up, with almost 1million sq ft of space occupied over the year, driving prime rents up by 11.6%.
Download our research paper to find out more.
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A falling availability rate left potential occupiers of industrial space across the Norfolk and Suffolk market area with relatively few options in 2018.
This has placed pressure on prime rents, delivering an uplift of 4% over the last 12 months with further rental growth likely.
Download our research paper to find out more.
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Supply shortages of large distribution space curtailed take-up in and around Milton Keynes in 2018, although an active market in Northampton brought overall activity to 2.3m sq ft.
Requirements for >50,000 sq ft sheds are at record levels and new space will be welcomed by the market.
Download our research paper to find out more.