The continued lack of supply and bespoke nature of end user requirements has led to an increase in the number of build to suit transactions.
Only three small scale speculative developments have commenced on site during the first half of 2013, namely three units totalling 26,000 sq ft in Stockport, one single building of 16,000 sq ft in Bury and six units from 3,000 sq ft – 19,000 sq ft in Burnley. Further small scale development is pending.
There has been an increase in activity from developers seeking to secure sites, including Seddon Developments, which has recently acquired plots in Chorley and South Manchester.
Barwood has also launched Epic on the M6 corridor where it has recently obtained planning consent for a 600,000 sq ft unit and is due to submit a further bespoke planning application for an end user.
For a detailed breakdown of key grade A availability for H1 2013, please click here or on table 3 to the left of this article.