The pandemic has accelerated the online retail boom, with nearly 15 million square feet of new super sheds built across the UK.
The forced closure of high-street stores further increased the trend of online sales, and retailers had to invest further in warehousing capacity to cope with delivery demands.
According to new data released by the real estate consultant Altus Group, 49 new large-scale distribution warehouses have been built in 2020.
It says this reflects 14.72 million square feet of “state-of-the-art” sites-equivalent to 191 Super League football field.
This space is roughly the same as the physical space lost due to acquisitions this year Debenhams And the Arcadia brand by the e-commerce giant boohoo And Asos, Altus said in its annual commercial interest rate assessment released today.
The huge warehouses are called “super sheds”, each with an area of more than 85,000 square feet, were built for the 2017 property tax and added to the local rating list. U.K with Wales
From Northamptonshire along the M1 to the East Midlands Airport, and then to the Tamworth area in the west, the “Golden Triangle” of East Midlands will increase the area of super sheds by 6.07 million square feet in 2020.
It is twice the size of the next area in the east of England, at 2.77 million square feet.
At the end of last year, the total area of super sheds in England and Wales was 416.28 million square feet, equivalent to the area of 5,416 football fields. The Sports Direct warehouse in Shirebrook is still the largest among them.
Robert Hayton, Altus Group’s UK President, said: “Online retailers alone now account for 17% of the tenant base of the 100 largest super sheds.
“The surge in demand has brought significant investment opportunities, especially for overseas investors, as competition for space continues to intensify, which will undoubtedly affect the tax liabilities for the next revaluation in 2023.”
