The M4 corridor has seen 37 transactions totalling 882,000 sq ft. The M40 corridor saw 791,000 sq ft of take-up over 27 transactions and the M3 only saw 437,000 sq ft of take-up including the Woking/Guildford area.
The M4 and M40 corridors are prime distribution locations, linking London to the North and West. There is also a healthy number of requirements for industrial units over 10,000 sq ft in these areas. With occupier confidence increasing in some sectors, landlords and developers should be looking to capitalise by building in certain undersupplied size brackets, in drastically undersupplied locations.
The M3 corridor experienced lower take-up levels, largely down to low levels of Grade A supply. With the underlying economy set to improve it’s likely that conditions will be right for the return of speculative development and refurbishment of existing stock, which in turn, will stimulate take-up.