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LONDON-Industrial rents are continuing to grow across the UK, although there are signs that the rate of growth is tailing off, according to the latest 50 Centres industrial survey from Jones Lang LaSalle. Over the six months to March 2001, prime rents in the UK industrial sector have increased by an average of 5.8%, the survey found.

The UK’s industrial hotspot lies to the south and west of London, with all three of the highest-rented locations falling in this area. The highest prime industrial rent achieved in the UK is in Slough, Berkshire at £10 ($14.10) per sf, followed by Woking and Guildford in Surrey, both with prime rents of £9.75 ($13.75) per sf.

According to Naomi Couchman of JLL’s UK research team, prime industrial centres have experienced varying levels of rental growth. ‘Occupier demand has dropped slightly,’ she says. ‘In particular, the telecommunications sector has virtually withdrawn from the market. The more traditional occupier base of distribution, storage and light manufacturing uses have, however, remained steady.’

Couchman says that economic uncertainty in the US had not detrimentally affected the industrial market to date, although it remains to be seen whether this situation will continue for the next six months.

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