X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-The UK now has 181 million sf of empty industrial buildings, up 15.4% on the same time last year, according to the latest Industrial Floorspace Today survey from King Sturge. In the first four months of 2002, vacancies rose by 2.8% reflecting the continued economic slowdown which has hit the manufacturing sector especially hard.

The increased availability has been most ,marked in new space: completed but unlet industrial developments now total 16 million sf, up 46.4% year-on-year and up 11.7% in four months. Newly-developed space now accounts for 8.8% of total supply, against 8.1% in December 2001.

And there has also been an increase in the availability of large units of over 100,000 sf. At April 20002, there was almost 40 million sf of space available in big sheds, 21% more than a year previously.

Dr Angus McIntosh, Head of Research at King Sturge said: “Although the overall level of available space in completed buildings increased once again, the rate of increase slowed and was comparatively modest compared with our previous survey. In addition, the total level of available floorspace fell in four regions whereas in the previous survey every region recorded an increase.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.