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UK warehousing rentals are among the highest in Europe
Page 8
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The UK may be the most expensive place in Europe to site a distribution park, but that's because it's best, right? Not quite, according to a new study. Dominic Perry reports.
THREE SITES in the UK have been identified as being among the top 10 most expensive places in Europe for warehouse space, according to a new report.
European Distribution Report 2006. by global real estate business Cushman SE Wakefield, highlights rents in and around London's Heathrow Airport as being the most expensive in the whole of Europe, with an average level of €200/m2 a year.
Also making the top 10 highrent areas were the Midlands and Glasgow/Lanarkshire, with average annual rents of €94/m2 and €.86/m2 respectively In addition to ranking as one of the most costly places to rent or build warehousing, the UK sits 10th out of 15 countries in Cushman's analysis of the most cost-effective places to locate distribution sites.
Belgium tops the league "due to low rents and accessibility", though the report also notes its problems with a lack of land in prime areas and with traffic congestion. Other countries that are ahead of the UK are France, the Czech Republic, Poland, Hungary and even Austria.
The report adds: "The central European locations have, without exception,improved their ranking. This is due to significant improvements in terms of the maturity of property markets, and to the very low costs relative to other European destinations.
And it concludes: -Despite the poorer-quality transport infrastruct ure,freight movement across the region is increasing."