M&S deal helps East Mids industrial take up soar
Take-up of industrial space in the East Midlands increased by 166 per cent in the third quarter of 2010. That’s according to the latest industrial market report by property agent DTZ, which said the region had bucked the UK trend of falling take-up.
DTZ’s Research UK Property Times Industrial market report said the increase was due to “several large deals” which were completed in the three-month period.
These included Marks & Spencer signing a pre-let on a 900,000 sq ft design and build scheme at East Midlands Distribution Centre, Travis Perkins taking an additional 490,000 sq ft in Northampton and Urban Outfitters taking two buildings in Rushden.
Take-up this year is already up 90 per cent on 2009 with retailers accounting for over half of all take-up, said DTZ.
The report also suggested that locations such as Northampton and Lutterworth “could experience speculative development if occupiers continue to focus demand in prime areas”.
Helen Longstaffe, director of business space at DTZ in Nottingham, said: “Although overall take-up was down in the last quarter, take-up in the East Midlands increased reaffirming the region’s strategic importance as a location for occupiers.”
Overall, take up of industrial space in the UK fell back, marking the third successive quarter of falling volume.
