increasingly specialised in the activity taking place inside warehouses and hence requiring new, custom space.
Retail was once again the dominant industry in terms of take-up, with 4.6m sq ft over the period. Pureplay retailers were particularly active – Amazon represented 21.7% of total take-up. Logistics providers also saw take-up pick up over the period, taking 2.95m sq ft.
Big sheds (500,000+ sq ft) were the most in demand product in Q2, with 5.67m sq ft of take-up, representing a 92.4% increase on Q1. Whilst there was a mix of industries taking Big Sheds, retailers were also the most active occupier type within the space.
The continued growth of demand for logistics space has resulted in supply remaining tight in all regions in Q2. However, there was 1.9m sq ft of new stock delivered during Q2, of which 73.5% was available. We are aware of 5.85m sq ft of new development currently under construction across the UK - 83.3% of this is due to complete before the end of 2019.