The amount of available logistics space in the West Midlands has fallen to just 1.5 million sq ft among units over 100,000 sq ft, according to new research.
This is down more than 50 per cent year on year following a flurry of deals during the second quarter of 2022, says consultancy CBRE in a newly published report.
The analysis shows take-up of big box logistics units totalled 3.5 million sq ft for the region, across 14 deals in the second quarter of 2022.
This was the highest number of regional deals completed in the UK.
The majority of take-up was speculative and build-to-suit units, with third party logistics taking almost half (43 per cent) of the space.
Furthermore, of the 22.56 million sq ft of space taken across the UK in the first half the year, the West Midlands accounted for the most with 21.9 per cent, closely followed by the East Midlands with 18 per cent.
As a result of the region's strong performance, take-up in the first half of this year has already exceeded the ten-year average of 4.5 million sq ft, with the vacancy rate falling to 1.54 per cent.
Luke Thacker, associate director in CBRE's industrial and logistics team in Birmingham, said: "The Midlands continues to lead the way in the UK's logistics market, with yet another strong quarter of take-up.
"Unsurprisingly, due to the high level of demand and an acute lack of ready-to-occupy units, build-to-suit and speculative accounted for three quarters of the space taken in the first half in the West Midlands.
"However, take-up in the second half of the year could be constrained, with only a handful of speculative units under construction."
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