LONDON-Industrial vacancies in the UK grew by 4.1% in the six months to November 2001, with 164 million sf of factory and warehouse space now vacant. The vacancy rate is now 18% higher than at its low point in December 1999, but it is still well below its peak of 1993, according to the latest edition of King Sturge’s Industrial Floorspace Today.Most of the space added to the vacancy list is second hand, but with business failures still running at a relatively low level this increase can be ascribed to companies upgrading their space or restructuring their property holdings.

David Brooks, National Head if Industrial Agency at King Sturge said:’Overall the industrial market will finish the year relatively subdued, as occupiers and investors wait to see how current economic uncertainties unfold. Nonetheless, the economic and market fundamentals are basically sound, which suggest that once the economic outlook becomes clearer and the market has settled, occupier and investor activity will pick up.’

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