2010 was boom year for sheds, says Birmingham adviser
Last year experienced a boom in the number of shed deals being completed, according to the Birmingham office of Cushman & Wakefield. In the Midlands, the commercial property company advised on warehouse transactions which totalled 8 million sq ft.
Nationally, the company saw shed transactions double, from 10.1 million sq ft in 2009 to 22 million sq ft last year.
In the Midlands, there was a similar increase, from 4.75 million sq ft in 2009 to 8 million sq ft.
David Binks, of the Birmingham office of Cushman & Wakefield, said the huge rise in transactions was close to being a record year for take-up in the warehousing and distribution sector.
He said: “Part of the massive take-up was driven by the availability of a lot of existing stock, which was snapped up by organisations which were ready, willing and able to move.
“Because of this, they were able to take advantage of exceptionally competitive prices, both in freehold and leasehold terms.”
