30 October 2015, by Kevin Mofid

The supply for units over 100,000 sq ft in England has increased for the first second quarter in succession.


■  For the first second quarter in succession supply for units over 100,000 sq ft at a Nationwide (England only) has increased. The supply of existing units has increased by 646,344 sq ft, a rise of 2.8% quarter on quarter, and now stands at 23.1m sq ft.


Churn falls in sub 200,000 sq ft category

Figure 3

Source: Savills Research

■  As previously announced speculative logistics developments reach practical completion we start to add to our supply statistics. Indeed in the third quarter we have added 501,000 sq ft of speculatively constructed space to our supply statistics with the units at London Gateway (316,581 sq ft) and Revolution Park, Chorley (185,191 sq ft).

■  Furthermore we have seen a number of Grade B second hand units return to the market with nine units nationwide totalling 1.7m sq ft being added to our supply statistics in Q3 2015.


Speculative development being added to supply

Figure 4

Source: Savills Research

■  Whilst the North West still accounts for the highest total amount of space at 5.5m sq ft if Grade C stock is excluded the region with the most amount of stock shifts to the East Midlands with 3.26m sq ft of Grade A & B stock on the market.

■  Across the country there are 152 units on the market, 91% of which are second hand. When classifying units by quality just 6.5m sq ft of the 23.8m sq ft on the market we would classify as Grade A.

■  The supply of larger units is also diminishing, with just 15 units on the market over 300,000 sq ft.

■  During the third quarter 12 speculative schemes over 100,000 sq ft were announced totalling 2.4m sq ft. The largest unit announced was 358,068 sq ft at Prologis Park Dunstable and the average size unit was 201,296 sq ft.

■  Savills are now tracking 7.9m sq ft of speculative development due for delivery in Q4 2015 and into 2016 across 39 separate schemes.


Key Contacts

Kevin Mofid

Kevin Mofid

Commercial Research

Head Office London

+44 (0) 20 3618 3612


Subscribe to Savills research


Would you like to be notified via email about new research?