Despite the global impact of Covid-19 on the economy, throughout the pandemic demand for industrial and warehouse properties has outpaced supply, making this the most robust commercial property sector. PAI members Fenn Wright continue to experience strong demand for industrial spaces of all sizes throughout Essex and Suffolk.
Developers have identified both the shortfall and improved rental potential and we are seeing signs of investment in industrial development schemes in the region. Hopefully, this should help to meet some demand, however with the industrial sector at its busiest, lack of available units is a major issue which needs to be addressed if we are to continue to grow and rebuild the economy in the Eastern region.
Demand is such, that as we bring B2 and B8 properties to the market, immediate interest is generated, often resulting in multiple offers and outcomes in excess of the asking price.
A selection of some recent transactions from the Fenn Wright Commercial agency team can be found here.