Gloucestershire & Worcestershire

The Gloucestershire & Worcestershire region is strategically located between Bristol and the Southern West Midlands, with key locations clustered along the various motorway junctions of the M5. The scrappage of the Severn tolls has increased activity on the Prince of Wales bridge, and the region could become a more cost-effective location for occupiers wanting access to both the Midlands and Wales markets.

As a relatively small logistics market, development activity was muted in 2020, although there are a handful of schemes such as St Modwen Park Gloucester and Sixways Park in Worcester which continue to attract occupiers and could accommodate further activity. Prime rental growth has been strong for the last few years and with a small speculative development pipeline, we expect further upward pressure on rents, with incremental increases as additional stock is drip-fed through to the market.