22 July 2015/Categories: CILT, Industry News, Logistics & Supply Chain
The first half of 2015 saw a boom in the development of 16m sq ft 'big sheds', which led to 7.6m sq ft of speculative development.
This is according to the findings of new data published by property advice firm BNP Paribas Real Estate UK - and it was specified that this is the highest total amount of space and property being worked on since 2007.
Chronic undersupply in the logistics market sparked the demand for more big sheds, with 8.4m sq ft of transactions in the first six months of the year accounted for by design and build deals on units over 100,000 sq ft.
BNP Paribas Real Estate's Nick Waddington said potential occupiers are looking at constructing their own spaces due to lack of supply in the industrial and logistics markets.
"The willingness of developers to make a start on many speculative developments is also helping to alleviate a chronic supply shortage," he commented.
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