Industrial market still strong despite Brexit

THE INDUSTRIAL property market in West Yorkshire remains strong, despite fears that the sector would be badly hit following the uncertainty caused by the vote in favour of Brexit, according to global property consultancy Knight Frank.

Knight Frank’s latest Logic Report reveals the industrial occupier market across West Yorkshire continued to perform well in the second half of 2016 and in early 2017.

Iain McPhail, a partner with Knight Frank’s industrial property team in Leeds, said: “As with other regions, high-quality existing and new build industrial stock in the small and mid-size range remains in short supply.

“Current market conditions have led to continued pressure on developers to speculatively develop in the region.”

Mr McPhail said there was a dearth of good quality secondhand modern warehouse units.

He added: “The lack of stock in certain areas has also contributed to an increase in design and build requirements, as companies struggle to identify existing units that can accommodate their needs.

“The development sites within the Leeds city Region Enterprise Zone in the Aire Valley are well placed to accommodate this, such as Muse Developments Logic Leeds, which is a 100-acre industrial and manufacturing scheme.”

Logic Leeds has attracted occupiers such as Amazon.