Inner city warehouses are needed more than ever.
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Consumer and business preferences are changing towards speed and convenience for the consumption of goods and services.
26%
In March 22 e-commerce penetration represented 26% of total retail sales in the UK, up from 19% during 2019.
1/2
E-commerce penetration in the UK is predicted to reach 50% of total retail sales by 2030
1m
Every billion dollars in e-commerce sales generates approximately 1 million square feet of demand for warehousing.
Increasing demand from businesses changing their existing models and new business models arriving on the scene.
Our customers include both traditional industrial and logistics occupiers as well as the more recent business models which have exploded with e-commerce adoption and the preference for convenience.
Exacerbating land and existing ultra-urban warehouse supply.
During the last 10 years, it is estimated that 100 hectares of industrial and brownfield sites has been lost every single year to higher value uses such as residential and retail. It is unlikely this industrial land will ever be replaced in London.
Warehouse supply is becoming more constrained year-on-year in London.
Net zero carbon is now front and centre for businesses across the UK. Finding suitable warehouse space with the ability to reduce carbon emissions is now a top priority for our customers.
The majority of warehousing in inner cities lacks the necessary environmental performance or BREEAM and EPC credentials.