Industrial take-up so far this year is holding up, with 10.1m sq ft of deals in the first half of this year, according to Savills.
In the same period last year take up figures were 10.9m sq ft. Savills predicts that take up this year will reach 15m sq ft, similar to 2007’s figures of 16.6m sq ft and 15m sq ft in 2006.
Graham Brown, director of Savills, said: ‘Contrary to current negative sentiment regarding the economic climate and its effect on the industrial occupational market, this is not borne out by the take-up figures of large units so far this year.
‘Clearly companies continue to require space, whether it is for expansion or consolidation purposes, and so the market remains solid, although this may be tempered in due course. Furthermore, rents in the sector continue to show resilience.’
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