The recently released Industrial and Distribution report, by Lambert Smith Hampton (LSH), has revealed shortages of new built stock in large buildings in South England and mid size market across UK. According to the report, during the second half of 2010, there will be an increase in the speculative development.
Commenting about the report, Steve Williams, Head of LSH’s Industrial and Logistics Division, said: “In certain areas, speculative development will return earlier than expected but only on a restricted basis, and development completions are not expected to outstrip demand.”
The report also brought out the fact that during the second half of last year, industrial occupational market became stronger. This upped the total take up to an increase of 10% over the previous year.
Steve Williams further commented that though the industrial sector has shown some real improvements, there is an oversupply of second-hand space in the market. Along with the new space, there is totally an availability of 320m sq ft, an increase of 22% on the end 2008 level.
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