Vacancy rate presents opportunities – Cooke
YORKSHIRE has more industrial and logistics space on the market than any other region of the UK, according to new figures.
BNP Paribas Real Estate figures suggest 21% of available stock is on the market despite “promising levels of activity” in the second half.
The figure is highest among the ‘core regions’ for logistics –
the Midlands, the South East, Yorkshire and the North West which account for 72% of space.
Guy Cooke, head of agency at BNP Paribas Real Estate’s Sheffield office, said: “The high vacancy rate in our region creates an opportunity for companies to locate here without taking on the relatively high costs associated with taking design and build space, which is often the only option in other parts of the country.
“Looking ahead, we expect this trend to continue and this sector to remain robust in 2013.”
Deals completed in the second half f the year include The Range taking 750,000 sq ft at Nimbus Park and Elbee taking 205,000 sq ft at Nexus 36.
Across the country supply is at its lowest level since 2008 at 21.5m sq ft after three quarters of consecutive falls.
