E-commerce boom delivers 15m sq ft ‘super shed’ space
The online shopping boom has added 14.7m sq ft of new “super shed” floorspace to the market, according to new research.
Findings from Altus Group show that 49 new distribution warehouses measuring more than 85,000 sq ft were built and added to local rating lists in England during 2020.
The total space is roughly equal to the amount of physical retail space lost this year after retailers Debenhams and Arcadia were bought by e-tailers Boohoo and Asos respectively, according to Altus.
The online shopping boom has added 14.7m sq ft of new “super shed” floorspace to the market, according to new research.
Findings from Altus Group show that 49 new distribution warehouses measuring more than 85,000 sq ft were built and added to local rating lists in England during 2020.
The total space is roughly equal to the amount of physical retail space lost this year after retailers Debenhams and Arcadia were bought by e-tailers Boohoo and Asos respectively, according to Altus.
The “Golden Triangle” in the East Midlands saw the biggest surge, increasing by nearly 6.1m sq ft during the year.
This was double the amount that the East of England added, which was the second-best-performing region after delivering almost 2.8m sq ft. Together, both regions accounted for 60% of all new capacity that was added.
More than a third of all new space in the East Midlands that came on to the local rating lists (2.15m sq ft) was in Corby.
No super sheds were added to local rating lists in the North East and Wales during the year.
In total, super sheds occupied 416.3m sq ft at the end of last year in England and Wales, with the Sports Direct warehouse at Shirebrook still the largest facility at 2.6m sq ft.
Robert Hayton, UK president at Altus Group, said pure-play online retailers now account for 17% of the occupier base of the 100 biggest super sheds.
He added: “Surging demand has led to major investment opportunities, particularly for overseas investors, as the race for space continues to intensify, which will undoubtedly impact tax liabilities at the next revaluation in 2023.”
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