Warehousing is booming

Jun 5 2009 by Sue Scott, Evening Gazette

THE North-east industrial warehouse market had one of the busiest starts of any year, according to a new report from commercial property specialists DTZ.

It said there was “still life in the market” after calculating there were 260,000 sq ft of new industrial warehouse space disposed of in the first three months of the year.

In each of the past two years, over 900,000 sq ft of brand new speculative space had been disposed of, making the figure for the first quarter of this year highly encouraging. “It suggests that while the feeling is the market has slowed, in reality there is obviously more happening than might have been thought,” the report said.

It leaves 1,660,000 sq ft of empty new industrial warehouse space on the market - substantially less than in June last year when there was approximately 2.5 million sq ft of space available.