Wales’ industrial outdoor storage rents see UK’s biggest rise

RENT for industrial outdoor storage (108) space in Wales has seen the biggest rise in the UK, although remains the lowest of any nation or region.

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‘A new report from global property consultancy Knight Frank highlights that IOS is emerging as a vital component of the UK’s industrial landscape, as occupier requirements diversify and business needs change.

Its research shows Swansea, Newport and Cardiff taking the top three places in the latest UK league table of annual rent increases for IOS. Swansea experienced the highest annual growth at 23%, followed by Newport at 20% and Cardiff 17%. For Wales as a whole the growth rate over the last year was 15% ‘he headline rent in Cardiff is £1.35 per sq ft, £1.14 for Newport and just 80p for Swansea. Despite the rise the attractiveness of IOS market in Wales is highlighted by the fact that for rival Bristol the headline rent for IOS is £1.85 per sq ft.