Take up was largely boosted when Maersk signed a 15-year lease on the newly-built Mammoth 602 in Doncaster
An uplift in development activity was recorded in the Yorkshire, Humber and North East Derbyshire region in the third quarter of 2022, according to a report from Knight Frank.
Knight Frank's LOGIC report found that South Yorkshire and North East Derbyshire had 3.1 million sq ft of speculative space under construction (units of more than 50,000 sq ft) across 16 units.
West Yorkshire and the Humber also recorded a boost in speculative activity in the same period, with 607,500 sq ft of space under construction (units of more than 50,000 sq ft), spanning across six schemes, with three more now underway.
In total, occupier take-up in the region in 2022 is more than three million sq ft, 2.2 million of which has come from South Yorkshire and North East Derbyshire.
On South Yorkshire and North East Derbyshire, Rebecca Schofield, partner and head of Yorkshire Industrial at Knight Frank, said: "Take up in Q3 was largely boosted by one significant deal; transportation and freight services company, Maersk, signed a 15-year lease on the newly-built Mammoth 602 in Doncaster, comprising 602,000 sq ft of space. Distribution occupiers remain the most active, accounting for 47 per cent of YTD occupier activity.
"Reflecting the strong demand for new, high-quality space, almost half of take up so far this year comprises new, speculative buildings, while a further 32 per cent are build-to-suit units.
"Demand for prime units in South Yorkshire & North East Derbyshire continues to support rental growth."
"Despite the wider economic outlook, the occupational industrial market is showing continued robustness with requirements remaining at strong levels."
Alex Dochery Investment Team Manager for Business Doncaster said: “Doncaster boasts a wealth of investment opportunities that will help service the demand for industrial space across the region and beyond. Developments include an array of high quality industrial/warehouse units being built at Jubilee Park and Platinum Park, fulfilment of the remaining warehouse capacity at Doncaster iPort, exciting opportunities for commercial and industrial business, residential, retail and leisure developments at Unity Yorkshire as well as prime industrial space at the new 180 acre site, Doncaster North.
The LOGIC report profiles occupier and investment market trends across the region and sector highlights the developer response underway to address the supply constraints.
Explore some of the developments in and around the City of Doncaster by clicking the links below:
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