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LONDON-Industrial vacancies continue on an upward curve, according to the latest Industrial Flooorspace Today survey from King Sturge. At the end of April 2003 there was 203 million sf of available industrial space, up 6.7% in just four months and up 13.8% over 12 months.

The only region to record a decrease in availability was the West Midlands where voids fell 1.9% to 23.4 million sf. But availability in England–at 181 million sf–is now only marginally below the previous peak of 182 million sf, recorded in August 1993.

The report highlights the problems facing manufacturing businesses in the UK: over the period 1995-2002 UK manufacturing output declined by 1.4% while the UK economy as a whole grew by 20% over the same period. And to make maters worse for the industrial property market, distribution operators have been rationalising their logistics networks, taking centralised ‘mega-sheds’ and releasing space in smaller facilities across the country.

David Brooks, National Industrial partner at King Sturge said: Activity levels are still encouraging for the right product and we have experienced an improvement in the level of enquiries in certain locations.”

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