Covid-19 and Brexit boost demand for warehousing
Letting was brisk, but a lack of supply of suitable modern warehousing was the only thing holding back what was a very busy sector in 2020
This time last year, an acute warehousing supply gap was predicted for 2020 as the stock of second-hand properties continued to diminish and developers delayed new construction due to the uncertainty surrounding Brexit.
This proved to be correct, but the expected upward pressure on rents during the year, particularly for second-hand stock, surpassed expectations due to the oversized influences of both Covid-19 and the anticipated ending of the Brexit transition period.
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