Property experts from across the Midlands heard how the region’s industrial and logistics market is performing at the launch of Lambert Smith Hampton’s (LSH) latest report.
The commercial property consultancy has published its Industrial and Logistics report for 2016 which reveals there was a 16.3 million sq ft take-up across the West Midlands last year – a 21 per cent increase from the previous year.
Guests at LSH’s Birmingham offices heard that much of the increased activity was down to the resurgence of the logistics sector (warehouses of 100,000 sq ft and more), which was up 76 per cent year-on-year and 19 per cent above the annual average.
Logistics supply and the average unit size of a new-build unit both increased slightly, reflecting a focus of recent development towards the larger end of the market.
The report also showed that logistics activity was dominated by build-to-suit properties and new-build space, which elevated grade A take-up in the region to a 10-year high of 5.5 million sq ft.
