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Warehouse construction at the lowest Level for 10 years
Page 11
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By David Harris FEWER NEW warehouses were built in the first half of 2009 than in any six-month period in the previous decade, Sally Bruer, head of industrial research at property specialist Gerald Eve, told the United Kingdom Warehouse Association (UKWA) Warehousing Futures conference in Nottingham last week.
She warned hauliers and logistics firms that, although there is a glut of space available now, the situation could change in an upturn. She said now might be the perfect time for those needing warehouse space to buy or rent it cheaply. She added that the market was Hooded with vacant warehouse space, but the majority of it was secondhand, with the amount of new or refurbished space dwindling. "If operators want a good deal on new space. now could be the time to negotiate it,she said.
Any shortage of warehouse space is likely to be made worse because rate relief on empty industrial property was scrapped in 2008.
UKWA chief executive Roger Williams (left) says: This has led to landlords demolishing perfectly sound warehouse property to avoid paying the substantial amounts of tax that unoccupied facilities incur.