Industrial and logistics take-up in the North West has boomed to 2.64m sq ft in the first half of 2020, the second highest H1 on record, research shows.
According to Savills, take-up levels soared by 128% compared to H1 2019 figures.
Nearly a third (30%) of space taken up was for short-term deals of less than a year as a result of coronavirus.
Operators also expanded their existing footprint in the region over the period, with DSG taking a further 375,000 sq ft, Kelloggs committing to 525,000 sq ft, and Hermes agreeing to 290,000 sq ft.
As a result of the increased demand, the supply of warehouse space in the region has decreased over the last 12 months, from 7.26m sq ft to 4.24m sq ft.
Jonathan Atherton, industrial and logistics director at Savills Manchester, said: “The North West has seen a huge uptick in enquiries and subsequent transactional activity, with the market responding to the requirements brought about by Covid-19.
“We are continuing to track a significant volume of deals due to complete in the second half of the year, suggesting that the resilience of the market is set to continue, which, given the wider global situation, is hugely positive for the North West region.”
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