There might be an autumn chill in the morning air, but there is no chill settling on the Golden Triangle's warehouse property boom.
Industrial take-up in the East Midlands reached 4M SF in the first half of 2018, very nearly equal to the region's entire take-up in 2017.
So said Savills' latest Big Shed Briefing, which shows take-up 146% higher than the long-term first-half average. Among the most notable transactions were four build-to-suit deals totalling almost 2M SF at Segro’s East Midlands Gateway, including a pre-let to logistics company Kuehne + Nagel.
Industrial supply is just 4.19M SF, of which 61% is now classified as Grade A. This is a substantial improvement in quality compared to 2015, when the figure dipped as low as 15%.
A further 2.35M SF is under construction.
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