Logistics development land is now changing hands for as much as £2.6m an acre.
Warehouse sites are on average 23% more expensive than they were this time last year, say researchers at property consultants Bilfinger GVA.
The highest prices – at Park Royal, London – contrast with £400,000 an acre in Bristol, and £250,000 in South Wales.
Internet retailing has helped drive demand for more land, and to push up land prices.
Rising land prices – and rapidly rising built costs – mean warehouse rents are sure to grow in 2016.