Lon­don­Metric sees Brexit spark de­mand

Yorkshire Post - Business - - NEWS / BUSINESS - Lizzie Mur­phy BUSI­NESS RE­PORTER @lizziec­mur­phy

Ware­house owner Lon­don­Metric Prop­erty re­vealed yes­ter­day that com­pa­nies were seek­ing ad­di­tional stor­age and distri­bu­tion build­ings to help avoid sup­ply chain dis­rup­tions ahead of Bri­tain’s planned de­par­ture from the Euro­pean Union.

A raft of com­pa­nies, un­set­tled by the uncer­tainty around Brexit, have an­nounced plans to stock­pile prod­ucts rang­ing from drugs, choco­late, tiles and raw ma­te­ri­als to parts for the en­gi­neer­ing in­dus­try.

“There is grow­ing ev­i­dence that oc­cu­piers are in­ten­si­fy­ing their search for ad­di­tional distri­bu­tion space both to in­crease near term stor­age ca­pac­ity as well as longer term so­lu­tions to max­imise the ef­fi­ciency of their global sup­ply chains in a post Brexit en­vi­ron­ment,” Lon­don­Metric said in a state­ment.

“What we’re find­ing a lit­tle bit is there are com­pa­nies who are get­ting into in­creas­ing in­ven­tory... We are hav­ing con­ver­sa­tions with peo­ple who are con­scious of an un­cer­tain Brexit out­come,” chief ex­ec­u­tive An­drew Jones, in­set, said.

Lon­don­Metric had talked with com­pa­nies in the au­to­mo­tive and health­care sec­tor.

Barely four months be­fore Bri­tain is due to leave the Euro­pean Union, Prime Min­is­ter Theresa May has failed to get much of her own Con­ser­va­tive Party be­hind the agree­ment sealed with EU lead­ers, leav­ing open the pos­si­bil­ity of a nodeal Brexit.

Lon­don­Metric also echoed UK prop­erty sec­tor bell­wether Bri­tish Land Com­pany’s warn­ing on fall­ing val­ues in the brick and mor­tar re­tail space.

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