INDUSTRIAL FORECAST BRIGHT FOR 2025, ACCORDING TO AGENTS AT HARRIS LAMB

Commercial agents at Harris Lamb have alluded to a successful year ahead within the industrial property market further to an uptick in enquiries and demand within the sector as 2024 draws to a close.

Neil Slade, Director, said that the latter months of 2024 had exceeded expectations and the forecast heading into the New Year and beyond was very positive.

“There has been a fair degree of sector uncertainty in recent years, where businesses have had to adapt to the fall out of CV19, a cost-of-living crisis, spiralling inflation, a challenging debt market and a multitude of political and geo-political events, with the Autumn Budget posing new challenges heading into 2025. However, 2024 is very much ending on a high note with a notable increase in enquiries for commercial property and where we have placed properties under offer and pressing for quick completions on others. By no means has the market closed early for Christmas.

“In November the Harris Lamb agency team recorded the highest number of general enquiries for more than two years and we are taking that as an encouraging sign of things to come.

“The number of general calls into the transactional department is a key indicator as to market sentiment and future business planning, that may indicate improved take-up through 2025.

“With an improved development pipeline to bring forward new buildings and landlords investing in the refurbishment of existing stock, the industrial sector is very active at present in preparation for improved demand,” he said.

Schemes such as Sentinel Logistics Park in Birmingham that will deliver over 300,000sqft of best-in-class mid-box warehousing, a 100,000sqft spec build at Avalon Point in Erdington and a high-spec refurbishment of ‘Axiom’, a 220,000sqft logistics premises in Leamington are examples of such pipeline supply where Harris Lamb is reporting strong occupational interest.