Midlands Big shed rents hitting double figures 

By Liza Helps Property Editor Logistics Matters

Guide rents for modern Grade A big sheds in the Midlands are set to exceed £10 per ft2 in 2024 according to property pundits in the region.

A recent deal which saw IM Properties secure Octopus Energy on a 47,000 ft2 building at Hinckley Park, is thought to have closed at nearly £11 per ft2. Already larger properties coming to the market have been given guide rents in excess of £10 per ft2.

Only in July this year Savills Big Shed Briefing put quoting rents at £9.75 per ft2 but this has now moved on with Colliers latest industrial rents research indicating that rents for big sheds in South and East Birmingham are now at £10 per ft2 and Avison Young’s latest data putting rents in Coventry in the same rent bracket.

Rent levels are expected to continue to grow with a shortage of space still prevalent in  the region.