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Savills anticipates record Q1 take-up from the Riviera

Savills anticipates record Q1 take-up from the Riviera

Warehouse operators do not want standard off-the-shelf properties, delegates at the Shedmaster’s event in Cannes have been told.

The Shedmasters event – taking place at the MIPIM property convention in Cannes, France – has been told that more than 8m sq ft is being built. So far this year demand for new warehouses is rocketing, up 85 per cent. Savills estimate deals total 5m sq ft, with another 1.9m sq ft under offer.

However, Simon Collett, head of building and project consultancy at Savills, warned: “This phase of speculative development is different from the last and needs to be as the occupier base continues to shift. The onus is now on investors and developers to consider flexibility in their building design, both for the here and now and the mid to long term.

The idea that one-size-fits-all is under serious challenge, so by guaranteeing that buildings are flexible, environmentally sustainable and cheaper to run you can future proof space, which ultimately reduces the risks for investors when trends inevitably change in years to come. It is now crucial that individual consideration be given to each new site, build-to-suit included, as flexibility is the new currency when it comes to industrial and logistics.”

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