6 July 2022

Where have all the good sheds gone… – Victoria Towers writes for Logistics Manager

You can’t find a good shed these days for what seems like love nor money – is this going to be the new ‘normal’?

Industrials & Logistics Partner, Victoria Towers, has provided expert commentary to Logistics Manager magazine on the growing supply-demand imbalance of warehouse space and the unsurprising increase in rent levels, highlighting that “we are still in a landlord’s market.”

As a result, speculative space is frequently being let during construction, prior to practical completion.

Towers adds that “with demand still very much outweighing supply, occupiers are also accepting longer leases and thought is being given to rent reviews. Rather than open market rent reviews, developers and landlords are looking at CPI rent reviews, and this is being accepted by tenants.”

The article summarises that due to inefficiencies within councils in relation to planning approvals for new developments, developers and investors are essentially taking a lottery ticket when it comes to getting their planning application approved, regardless of their scale of investment or prior experience with the system.

This article first appeared in the July 2022 edition of Logistics Manager magazine, it is available here.

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