Golden Triangle Burnished By Record First Half
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.
