Take up of new space at record high

Take up of new logistics and industrial space was at an all-time high in 2016, according to JLL. Research by the commercial property company found that last year recorded the second highest level of logistics take up overall in the past decade, an increase of 38 per cent on the previous year.

“Approximately 23.9 million sq ft of Grade A logistics floor space was taken-up over 2016, an increase of 38 per cent on the previous year and the second highest year on record; 19.9m sq ft of this total was in new buildings the highest annual level according to JLL’s records which date back 21 years,” said Richard Evans, head of JLL’s national logistics team. “The retail sector provided the most active source of demand in 2016 accounting for a 58 per cent share of total Grade A demand.”

The research also found that by the end of last year, there was 12.4 million sq ft of Grade A floor space available across the country – a decrease of 17 per cent.