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.
In Cambridge the market has seen prolonged above trend take up, with 220,000 sq ft let in H1, driving the overall availability rate down to 4%. While new units are coming online, the supply of second hand industrial floorspace stands at a historic low.
An upturn in demand in 2019, from occupiers ranging from R&D to traditional manufacturing, has delivered requirements amounting to 1.5m sq ft. The delivery of new space will be welcomed, but the supply-demand mismatch will drive rents up from their current high of £14.50 psf.
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