All I want for Christmas is...more Industrial!
As we enter the festive period, there is no let-up to the significant shortage of industrial stock across the UK.
Since the pandemic, industrial demand has increased significantly, driven by logistical demand as a result of more online spending.
I am seeing first-hand the impact this is having on both rent negotiations and market availability.
I act for Charles Pugh Windscreens who operate a number of National Windscreen depots across the UK. Demand for 10,000-20,000 sq ft units with good yard space is at a premium with demand easily outweighing supply.
Not only is this impacting on the rents being agreed, but Landlords are also seeking longer lease commitments (unbroken 10-year leases in some instances). As a result older stock is now becoming more attractive.
With a shortage of stock, I can see no let-up in the short to medium term.
So as Mariah once sang – All I Want for Christmas is…more industrial!
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