Take up of Heathrow industrial has hit record levels, according to a Savills report.
1.4m sq ft was taken up in 2012, 12% up on 2011, and the highest level for more than a decade. The year accelerated too – Q4 lettings were almost double the previous year, with 360,000 sq ft let.
This shows the importance of the Heathrow logistics market, and the area’s enduring appeal to occupiers. Units taken are getting larger too, with Rolls Royce and dnata in the vanguard of those taking more than 50,000sq ft.
Savills say that the lack of Grade A space, together with a general lack of availability will push rents up over 2013.