The Ipswich industrial market is expected to see an 80% increase in take-up over H1, according to Savills.
The advisory firm predicts transactions in both Ipswich and the Felixstowe shed market will hit240,000 sq ft in the first half of 2016 – up from last year’s figure of 40,000 sq ft.
One of the largest deals in period was Marexport signing for 154,000 sq ft at the East Anglia Freight Terminal in Felixstowe, surpassing the total take-up of warehouse space in Ipswich for the whole of 2015.
Take-up is expected to further increase following a planning application for a 750,000 sq ft warehouse at St James’ Business and Logistics Park at Great Blakenham.
There is high demand for the proposed scheme as total supply currently stands at just 50,000 sq ft in and around the town.
New units at the park will be marketed at £6 per sq ft, a 33% increase on the current market rent of £4 per sq ft.
Chris Moody, director of business space at Savills in Ipswich, said: “Ipswich, a port-centric destination, has attracted an array of international import businesses, which are setting up operations in the UK to supply demand for online retail goods.
“Given that Ipswich remains good value in contrast to other nearby industrial markets, we believe that it is likely to continue to attract this type of occupier for some time.”
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