Record take up for South Coast warehousing
The final quarter of 2018 saw a 14 per cent increase in take-up of prime and secondary warehouse stock against the same quarter the previous year, with a total of 574,999 sq ft transacted according to Lambert Smith Hampton research.
These included significant deals at Mountpark in Southampton and Merlin Park in Portsmouth, where rents are hovering around the milestone £10 per sq ft mark.
Adrian Whitfield of Lambert Smith Hampton said: “Due to wider economic factors, we expect take-up in the first half of 2019 to be lower than previous years – however, as we witnessed in 2016 following the Brexit referendum, we are confident that the market will rally to produce a strong finish to the last two quarters of 2019.”