Proposed investment in land and property by manufacturing companies continues to grow according to data from Barbour ABI. There was significant growth in planned factory floorspace from March 2014 to last month, based on a 12-month rolling average.
Total planned floorspace in the manufacturing sector was 2.2 million sq ft in 2014, with a growth of 50% from the previous year. This follows the upward trajectory in manufacturing output which increased by 2.9% in 2014.
Planning application floorspace in March had a yearly increase of 56%, the largest of any month in the report, which dates back January 2011. In the first four months of 2015, planning applications have totalled 1.1 million sq ft which if continued, would mean total planned floor space will be in excess of 3 million sq ft for the full year.