More than 25% of warehouse space let in 2016 taken by Amazon
More evidence, if any more were needed, that Amazon is truly a titan and growing at a phenomenal pace, is a report from Savills that says it’s snapping up warehouse space at an astonishing rate. They say 25% of warehouse space in the UK has been taken by Amazon in 2016.
The warehouse real estate market is buoyant and 2016 should be its biggest ever year. Indeed, there is a shortage of warehouse in the UK and Savills attribute the uptick in demand to the growth of online retailing.
Kevin Mofid of Savills say: “Up to 45% of current logistics demand is from retailers, with Amazon, for example, accounting for just over a quarter of total take-up in 2016 to date. If we drill down further still, this represents 82% of take-up specifically by online retailers. Availability of land for employment use remains critically low across the UK and with land continuing to be allocated for higher value uses such as residential, the industry is struggling to keep up with demand.”