Lambert Smith Hampton’s latest Cambridge Industrial & Logistics Market Review reveals that in 2014, total take-up reached 1,360,177 sq ft, a 113 per cent increase on the total take-up seen in 2013. Whilst this was a significant increase compared with previous years, the sale of the 275,000 sq ft CDC Building at Sawston was a huge contributing factor.
The report also found that the mid box market (50,000 sq ft to 99,999 sq ft) became increasingly important, reflecting a prediction made in Lambert Smith Hampton’s national Industrial & Logistics Market Report 2014. In Cambridge, 2014 saw the disposal of six mid box units compared with a total of four deals in the previous three years combined.
Nick Thompson, Surveyor – Industrial & Logistics, at Lambert Smith Hampton’s Cambridge office commented: “Last year was a bumper year for Cambridge’s industrial and logistics market and I would hope that 2015 continues to see high levels of take-up. However with average availability 25 per cent less than that seen in 2013, limited speculative development and poor quality second hand stock accounting for 60 per cent of the total availability, the concern is that the market will struggle to keep up with demand.”