THE amount of industrial space acquired in the West Midlands during 2010 rose by more than 20% on the previous year, new research suggests.
The study says the region outperformed every other in the country.
Take-up of industrial and logistics property in the West Midlands was the highest for five years, reaching 14.6m sq ft, with second hand space accounting for more than half.
The figures were revealed in the latest National Industrial and Distribution Report 2011, published by consultancy Lambert Smith Hampton.
Cris Maxim, from the firm’s Birmingham-based industrial and logistics team, said: “A lack of speculative development over previous years and a focus on the big shed market has resulted in a shortage of good quality buildings in the 20,000 to 50,000 sq ft size range.
“Last year’s take-up was the highest for five years, reflecting the trend nationally, and the West Midlands out-performed other areas of the country in both take-up and availability.
“We believe the improvement we have seen will continue throughout 2011, driven largely by the distribution market, and in particular the retail, internet, automotive and food and drink sectors.
“We also believe that rents, which have remained stable over the last year, will continue to hold steady.”
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