Scottish warehouse vacancy rates remain tight
According to Collier’s latest research on the industrial and logistics warehouse market in Scotland vacancy rates remain extremely low despite supply levels increasing.
By Liza Helps, Property Editor, Logistics Matters
THE REPORT noted that while supply had increase by 12% in West Scotland and 21% in east Scotland vacancy rates are sub 5% overall.
In West Scotland choice remains tight particularly along the M8 corridor where vacancy is below 3% for units of 30,000 sq ft and above.
The huge increase in the supply of space in East Scotland said the report ‘masks a continued shortage of options that meet modern occupier requirements, particularly for units over 15,000 ft2’.
Prime rents warehouse units between 15,000-50,000 ft2 units stand at £12.50 per ft2 in Glasgow and £13 per ft2 in Edinburgh. While prime land values remain at £400,000 per acre in Glasgow and £600,000 per acre in Edinburgh.
