Western Corridor space hits 15-year low

The supply of warehouse space in west London and the Thames Valley has fallen to a 15-year low.

Surveyor JLL calculates that there is just 7m sq ft available along the western stretches of the M3, M4 and M40 motorways, enough for barely 18 months if take-up continues at its present rate of 5.1m sq ft a year.

Take-up in 2015 was steady, dropping just 4% from 5.3m sq ft in 2014.

Industrial and logistics supply in the Western Corridor at the end of 2015 was 11% down on December 2014, and is now at its lowest level since 2001.

The data from JLL shows that current supply is divided between 3.8m sq ft in west London and 3.2m sq ft in the Thames Valley. Some 3.8 million sq ft was available in west London with 3.2 million sq ft in the Thames Valley.