Organisations with excess temporary warehouse space to fill, or those searching for such space, may be intrigued by the news that retail warehouse vacancy rates are now at their lowest level in almost 20 years.
Out-of-town locations continue to be a hit with retailers
The leading independent provider of information on all of the UK’s retail and leisure schemes, Trevor Wood Associates, stated in its Definitive Guide to Retail and Leisure Parks that warehouse vacancies declined by 10% last year, reaching their lowest point since the company’s records began in 2001.
Out-of-town retail locations remain firmly sought-after, despite the demise of such large-scale retailers as Staples, Brantano and BHS. It means the vacancy rate is now at a mere 5.3%.
39 of the UK’s top 50 non-food retailers have upped their presence in out-of-town retail locations over the past year, with more than five million square feet of floor space having been acquired.
Even amid a 15% rise in the number of parks charging peak rent levels, supply and demand has ensured continued relative stability in rent levels compared to high street locations.
“Future looks positive” for warehousing providers
Trevor Woods Associates founder Trevor Woods said that the analysis showed a buoyant market for retail warehouse space, and that with numerous store openings having been proposed, vacancy rates looked set to improve over the coming year.
He added that:
“The future looks positive, particularly when you consider that we have 113 schemes thought likely to proceed before 2023 in our development pipeline. This pipeline is greater than at any time since our 2008 review when the vacancy rate was recorded at 8.3% and rising, whereas now it is 5.3% and falling.”
Bis Henderson Space can assist your search for temporary warehouse space
Whether your organisation is one with more warehouse property than it requires, or instead has a pressing need for additional logistics capacity, we can provide you with a highly professional and completely confidential service.
Simply get in touch with our logistics experts today to benefit from a consultative, thorough and proven approach to the resolution of your firm’s problems in relation to temporary warehouse space.