The construction of warehouses across the UK is set to boom in the next five years as internet shopping grows in popularity, a report has predicted.
A report, published by property consultancy Lambert Smith Hampton, has said that at current rates of warehouse construction demand for such space will exceed supply by 25 million sq ft.
National head of industrial and logistics at Lambert Smith Hampton Steve Williams said major shortages will hit the e-commerce industry “unless developers start building warehouses at a rate that we haven’t witnessed during the 20 years I’ve been working in the sector.”
The fall in the availability of retail space has been notable, with the report revealing it has shrunk from 360 million sq ft in 2012 to 200 million sq ft last year.
Mr Smith noted that the growth of e-commerce is not the only issue, with speed of delivery also a concern as this increases the importance of having warehouses in “strategically located” areas.
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