THE availability of Grade A industrial space continued to fall in the last quarter of 2010, driven largely by demand from occupiers consolidating their operations, according to DTZ.
Its latest UK Property Times Industrial market report said that, in most locations, falling levels of availability combined with a lack of speculative development was creating competition for prime space.
Overall take-up in Q4 was slightly down from the previous quarter, at 5.8m sq ft, with availability of prime space falling to 37m sq ft. Transactions were dominated by retailers and third party logistics operators who together accounted for 91% of all take-up.
DTZ reports “significant demand” in the North West from non-food retailers searching for distribution hubs which helped to boost transaction levels.
