A modest uptick in demand, but a continued sharp fall in the supply of new warehouse floorspace, make the Western London and Thames Valley logistics scene tighter than ever.
That’s the message from JLL’s latest Western Corridor research report which shows 2.1m sq ft was taken up in the Western Corridor in the first half of 2017, 3% up on the half-year average over the past 15 years.
Over the same period the supply of Grade A new-build floorspace fell by 18 per cent to 2.2m sq ft. Total available supply was slightly up at 7.8m sq ft, reflecting second hand space returning to the market.
At August 2017 there were 11 schemes speculatively under construction totalling 632,000 sq ft.
JLL says headline rents moved up in Park Royal, Reading, Bracknell and High Wycombe.
