The scale of demand for industrial accommodation in Reading has been revealed in the latest annual report by Haslams Chartered Surveyors.
Haslams Reading Industrial Report for 2021 reports the record take up for 2020 of 447,973 sq ft was easily beaten by last year’s figure of 780,142 sq ft.
UPS made the largest letting of 127,000 sq ft at Island Road while Thermal Management Solutions took 87,340 sq ft at Suttons Business Park which had been due to be redeveloped.
Supply at 457, 552 sq ft is now at an all-time low.
Haslams partner Neil Seager said: “The property market is polarised and most sectors are suffering, whereas the industrial market is on fire, it’s red hot.
“When you talk to industrial occupiers you have a very different conversation than you would with office or retail occupiers. Office or retail occupiers have the whip hand to a degree but industrial occupiers have got no leverage.”
He said Reading is suffering, not only a shortage of land, but also a lack of new schemes coming through in 2022. Occupiers could be lost to towns like Basingstoke which has supply coming through sooner.
The next big scheme likely to come through in Reading is Reading International Logsitics Park, four buildings totalling around 160,000 sq ft.
The report can be downloaded at https://haslams.co.uk/wp-content/uploads/2022/01/Haslams-Reading-Industrial-Report-2021.pdf
Image: Reading International Logistics Park, due for completion in early 2023.
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