2
TUESDAY, MAY 24, 1977
ON THE INDUSTRIAL SCENE, A SIGNIFICANT FEATURE IS THE FORECAST OF NINE MILLION SQUARE FEET OF FLATTED FACTORY ACCOMMODATION FOR 1977, AND 12 MILLION SQUARE FEET FOR 1978, AGAINST AN ACTUAL SUPPLY OF 2.9 MILLION SQUARE FEET IN 1976. ALTHOUGH 1.7 MILLION SQUARE FEET WAS LYING VACANT IN DECEMBER 1976, MORE THAN 70 PER CENT OF THIS WAS IN RESPECT OF PREMISES COMPLETED ONLY IN THE LAST THREE MONTHS OF THE YEAR. EFFECTIVE DEMAND FOR SUCH SPACE CONTINUES AT A HIGH LEVEL.
GENERALLY, SUBJECT TO ANY UNFORESEEABLE SET-BACKS;
THE REVIEW SEES 1977 AS A VERY ACTIVE YEAR FOR PROPERTY DEVELOPERS, AND EFFECTIVE DEMAND FOR ALL CATEGORIES OF PROPERTIES, EXCEPT PERHAPS FOR THE POORER, LESS WELL LOCATED OFFICES, CAN BE EXPECTED TO BE MAINTAINED OR INCREASED.
THE FOLLOWING ARE THE MAIN STATISTICS FOR THE YEARS
1975 TO 1977 AND FORECAST FIGURES FOR 1978:-
DOMESTIC (UNITS)
SUPPLY IN YEAR
1975
1976
1977
1978
14,530 15,425 23,560
23,560 28,580
4,860 4,305
BUILT IN YEAR AND VACANT AT DECEMBER
SHOPS (THOUSAND SQ.FT.)
SUPPLY IN YEAR
TOTAL VACANT AT DECEMBER
OFFICES (THOUSAND SQ.FT.
SUPPLY IN YEAR
TOTAL VACANT AT DECEMBER
MISC. COMMERCIAL (THOUSAND SQ.FT.)
1,097 1,157 1,590 1,578
1,732 1,094*
2,674 2,170 2,866
2,863
2,704 2,548+
SUPPLY IN YEAR
TOTAL VACANT AT DECEMBER
FLATTED FACTORIES (THOUSAND SQ.FT.)
1,088 1,122 1,109 1,010
1,622 1,600
SUPPLY IN YEAR
2,219
2,871 8,858
8,858 11,992
TOTAL VACANT AT DECEMBER
1,842 1,680++
/STORAGE