^{▲ 5 Wardpark Road}

Supply

■ The supply of warehouse space in Scotland for units over 100,000 sq ft has fallen by 38% in 2017 and now stands at 1.24m sq ft across the Central Belt.

■ This is made up of nine separate units of which all bar one are between 100,000 and 200,000 sq ft, with the average size being 137,953 sq ft.

■ All of the units currently on the market are second hand, aside from the Vertex unit at Eurocentral which has been vacant since reaching practical completion in late 2011.

■ The largest unit on the market in Scotland at present is Bathgate M8/J3a in West Lothian which totals 240,966 sq ft.

^{Source: Savills Research}

^{Source: Savills Research}

Take-up

■ After a slow start, take-up for units over 100,000 sq ft reached 748,763 sq ft across four separate deals.

■ This represents a fall of over 1 million sq ft from the record 1.78m sq ft achieved in 2016 but is 7% above the long-term average.

■ The largest deal of the year was at Wardpark Industrial Estate where logistics company John Russell Transport purchased a 263,000 sq ft unit.

■ All units transacted in the region in 2017 were for secondhand units, and we expect this trend to continue given the current supply dynamics.

^{Source: Savills Research}

Development Pipeline

■ There are no units under construction speculatively over 100,000 sq ft in Scotland meaning we do not expect vacancy rates to fluctuate in the medium term.

■ With a number of occupiers recently choosing to build their own units, such as Lidl, and other occupiers searching for land to construct their own units, the demand and supply case for future development remains strong.