Midlands sees promising results in 'shed market' lettings

Midlands sees promising results in 'shed market' lettings

More than 5.5m sq ft of industrial and logistics space was let in the Midlands in the first half of 2016 according to new research from real estate agency CBRE.

The figures reflect take-up in the 100,000 sq ft+ market and represent more than 40 per cent of the country’s overall take-up.

According to Richard Meering, who heads up CBRE’s logistics and industrial agency team in Birmingham, said: “The Midlands is the ‘Mayfair’ of sheds. It is home to the country’s biggest warehousing units and the epicentre of its distribution network. This is reflected in the record levels of take-up we have seen so far this year and the consistent levels of commitment to the region.

“To put this year’s market into perspective, total take-up in the region for 2015 was circa seven million sq ft, so this has been a very healthy start to the year.”

Some key deals for the region included JLR’s commitment to a further 468,955 sq ft across two units at Prologis Park in Ryton, Coventry; retailer Ted Baker’s acquisition of 325,000 sq ft at Angle 325 at Derby Commercial Park, and Boden’s pre-letting of 275,220 sq ft at Wilson Bowden’s Optimus Point in Leicester.

 

 

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