Online, bargain and discount retailers and manufacturing will drive demand for industrial property and warehousing in Yorkshire in 2013, according to CBRE.
The property consultancy reckons that demand will come from online retailers looking for distribution centres and bargain and discount retailers looking for outlets.
Meanwhile manufacturing demand will come from the supply chain, with some demand resulting from a knock-on effect prompted by significant investments such as Rolls-Royce’s plans to build two factories on the Advanced Manufacturing Park.
Toby Vernon, senior director of industrial agency at CBRE’s Sheffield office, said: “In total 2.37 million sq ft of logistics space in units of 100,000sq ft upwards was committed to by occupiers across Yorkshire in 2012 which represents a significant improvement on the 770,000 sq ft take-up figure for 2011. Take-up was significantly boosted by the leasing of the 750,000 sq ft former MFI unit at Nimbus Park to bargain retailer The Range.”
The deal on Nimbus Park, at Thorne, was the largest single deal in the second half of 2012 on an existing building nationwide. CBRE says rental levels for prime buildings generally remain stable at £4.50 a sq ft in South Yorkshire and £4.75 in West Yorkshire.