LondonMetric predicts high demand for warehouse space to continue

LondonMetric Property predicts strong demand for warehouse space in 2021 as the online shopping boom continues, the warehouse investor said on Thursday.

The FTSE 250 landlord’s boss Andrew Jones made the forecast as the company reported net rental income increased 12% to £61.3 million in the six months to September 30.

The firm added that rent collection during the period was “strong”.

Warehouse owners have reported strong tenant demand this year, as retailers sought more logistics space to cope with new online shoppers won during the coronavirus crisis.

Jones told the Standard: “2020 will see a record take up of distribution space and we expect that demand to continue into 2021 as the growth of internet shopping continues and many temporary trends become permanent. Covid-19 has undoubtedly accelerated the changes to consumer shopping patterns.”