Log in | Register

Planning applications for factories double in 2014

Words: Laura Edgar

Investment in land and property from manufacturing companies grew in 2014, and planning applications to construct factory floor space doubled, says a recent report.

The latest Barbour ABI report shows that from March 2014 to March 2015, planning applications for floor space for factory construction increased by 50 per cent, based on a 12-month rolling average. Planned floor space for 2014 amounted to 2.2 million square metres.

In March, applications for floor space had a yearly increase of 56 per cent, with 199,296 square metres of planned floor space.

Additionally, planning applications for the first quarter of 2015 amount to 1.1 million square metres, which, if continued, would see about 3.3 million square metres of planned floor space for 2015.

Michael Dall, lead economist at Barbour ABI, said: “With planning applications continuing to rise, businesses and investors appear to be preparing and planning long-term financial commitments within the industry.

“Despite the signs of a recent slowdown, the capacity of the UK manufacturing sector is set to increase, whether this fully transfers into increased output remains to be seen, but it certainly shows that an appetite for investment remains strong.”