This weeks’ Data Bite looks at industrial take up by type of unit (design and build, second hand and speculatively developed) for warehouses equal or greater than 100,000 sq ft. Occupiers continue to seek better quality space to reach greater efficiencies which is, in some instances, driven by ESG requirements.
Industrial take up of assets over 100,000 sq ft has hit a new record in Q2. Activity is up by 39% up year on year during the quarter, with take up totalling 16.1 million sq ft. Occupiers have been expanding and in some instances consolidating their operations in more efficient warehouses. Similarly to what’s been witnessed over the past 18 months, the first half of the year was marked by a flight to prime with only 25% of take up being of second hand stock as opposed to 41% for design and build space and 34% being speculative development. The share of spec development stood at just 13% in 2015.