Industrial sector gets some positive prospects, based on industrial space take-up

The levels of industrial property adoption across the North-East area of the UK have literally sky-rocketed over the second quarter, reaching an impressive 610,000 sq ft.

According to a recent market report on this matter, the boost is equivalent to an increase of around 126 per cent compared to the previous quarter, which is nothing short of impressive, to say the least.

Moreover, property adviser BNP Paribas Real Estate said UK take-up of industrial property in the period was 9.9 million sq ft, the highest level since the third quarter of 2011, with take up for the first half of 2013 reaching 17.1 million sq ft, almost two million sq ft higher than the first half of 2012.

Director of Newcastle agency at BNP Paribas Real Estate Aidan Baker: “The level of new logistics units available on the market continues to decrease across the UK. Nationwide, supply fell 1.8 million sq ft to 142.1 million sq ft, whilst the level of new stock in all core regions also continues to fall with just 20 million sq ft available nationwide. The occupational figures suggest that it may be the right time for new, larger sized, speculative developments, due to the serious lack of supply.”

This serious uptake in industrial space take-up reflects a boost in economy and should also translate into companies hiring more members of staff.

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