Midlands industrial unit take up beats records

Take up of industrial units hit an all-time high in the Midlands with 13.3 million sq ft of space let during 2019, according to new research.

This figure represented 45 per cent of all UK transactions, according to Colliers International’s latest annual report on the industrial and logistics sector.

The largest deal of the year saw Jaguar Land Rover agree a lease on five units at Appleby Magna on the Warwickshire/Leicestershire border, totalling 2.94 million sq ft.

Colliers said this was the biggest pre-let in history and supported the appetite for the M42 supply corridor.

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Other key significant deals included IAC agreeing two lets of 77,484 sq ft and 233,085 sq ft at Prologis Park Birmingham Interchange in Solihull on a 11-year lease.

Simon Norton, Colliers International’s director of industrial and logistics in Birmingham, said: “We’ve just had a record year of letting activity in the Midlands, with 45 per cent of all UK industrial transactions taking place in the region.

“We’ve had interest from both national and international occupiers and the area is ideal for larger scale units, which can distribute goods easily across the country.

“We expect this year that interest will grow, as occupiers continue to streamline their logistics models and the speculative developments will be quickly snapped up.”

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