New reports announce that warehousing space fell to a record low at the end of last year which comes as no surprise for the logistics industry. A further shock announcement about the prediction that warehouse property stock may disappear entirely by the end of 2020, provides further worries to those in the retailing and warehousing sectors. The report suggests that this is down to demands from a range of internet retailers, suppliers and schemes that are all contributing to a need for more warehouse spare. Many are stating that there will be a requirement to increase construction of warehouse at a rate never seen before in the UK.
LSH (Lambert Smith Hampton) stated that the requirements of distributors and logistics warehouse will exceed the availability by nearly eight million, even if rates of development continue, the need for warehouse construction has never been more.
The National Head of Industrial & Logistics at LSH, Steve Williams stated that E-commerce is not the only trend that is growing rapidly, the ripple effects of such trends has had repercussions on the relating industries. The demand is evolving higher and higher, and the needs for efficient warehouse space have been harder to accommodate.
Developers should be looking to invest in the development of warehouses as the demand for them has risen from the changing trends in internet shopping and suppliers. The retailers are moving online and looking to store their goods in warehouses across the country to meet the promises of the suppliers. Major suppliers are promising delivery within a certain amount of time.
UKWA represents nearly 700 companies and endorsed the findings of the report, stating that they urge policy makers to allow the growth and investment in warehouse space in the UK. UKWA is working to convince the delivery of schemes and plans towards meeting future needs of the warehouse industry.
