Midlands tops the industrial property take up table
THE Midlands achieved the highest amount of take up of industrial property of any region in the country in the third quarter of this year.
Research from property consultancy BNP Paribas Real Estate shows that in Q3 some 3.23m sq ft of space was taken up, 30% higher than the previous quarter.
Overall take up of industrial property in the UK in Q3 2013 was 7.31m sq ft, 9.5% higher than the same quarter last year.
Design and build deals accounted for 1.67m sq ft of take up in Q3 2013, a rise of 57.5% compared to Q3 2012.
In terms of other regions, take up in London and the South East in Q3 2013 was 1.26m sq ft, in Yorkshire and The Humber it was 0.80m sq ft and in the North West it was 0.50m sq ft.
BNP Paribas Real Estate’s head of national industrial and logistics agency, Nick Waddington, said: “The Midlands continues to lead the way in terms of take up for industrial and logistics properties, due to its central location.
“However, supply is still severely constrained, with less than two years’ worth of stock left. Taking into consideration the continuing demand and lack of available supply, now is the ideal time for developers to consider speculative development.”
