The online retail boom sweeping the UK has led to a record rise in the amount of warehouse space being rented to store and sort inventory.
A whopping 13.3 million sq ft of warehouse space has been rented over the last three months, more than double the amount rented over the same period a year earlier, according to CBRE.
The figures marked the second consecutive record rise in warehouse rentals, of which online retailers accounted for 33.3 per cent.
Aside from ecommerce retailers, third party logistics operators, general retailers and food providers also saw a significant rise in activity during the quarter.
“The extraordinary level of take-up seen in Q2 has now been exceeded in Q3,” CBRE’s senior director Jonathan Crompton said.
“To put the numbers into context, the past six months’ take-up exceeds the annual total for eight of the past ten years.
“Concerns around Covid-19 and Brexit have not suppressed demand, and consumers in the UK have fundamentally changed the way they shop.”
Next is understood to have taken the largest space during the quarter with an 850,000sq ft warehouse in Yorkshire, followed by Pets at Home which acquired a 670,000sq ft space near Stafford.