Take up in warehouse space increases
According to a sneak peek at property consultant DTRE’s 2024 Q2 industrial and logistics report due out on Monday the amount of space let or sold has increased by more than 10% quarter-on-quarter.
By Liza Helps Property Editor Logistics Matters
TAKE-UP has been driven by larger deals says the report with seven deals over 300,000 ft2 in the last three months – which, it said, was more than any other Q2 result outside of the Covid years (2020/21).
In total the amount of space taken up reached 6.35 million ft2an 11% increase on the first three months of the year.
The DTRE Big Box Vacancy Rate stood at 7.2% at the end of Q1, but this has trended downwards to stand at 6.8% at the end of Q2.
Deals reported include Global sportswear conglomerate Nike selecting developer investor GLP’s Magna Park Corby as home for its new 1.3 million ft2 UK Logistics campus, and this week’s announcement that Chinese ecommerce logistics provider CIRRO Fulfillment, trading as Super Smart Service, has snapped up NFU and Ergo joint venture Aver’s 354,00 ft2 warehouse at Fradley Park, Lichfield in the Midlands.
