What Is The Average Size Of A Commercial Property?
The average size of a commercial property in the UK is 9,485sqft
According to EG Radius market analytics data, the average take up on any commercial property in the UK is just short of 10,000sqft. This is across all sectors and landscapes.
In the latest data release, we see over the last 5 years that the average take up of 9,485sqft is influenced by a number of factors. The first being that the larger transactions over 100,000sqft will definitely be pulling the UK average higher. This is positive news for all commercial property owners and landlords alike as when huge swathes of investment enter the UK or a specific area, they tend to be heavily analytical decisions and bolster both trust and positivity within the market.
On the contrary, the sub 1,000sqft deals which occur perhaps over 10 times more often are outweighed by huge deals which again affects the average. Every day, here at Shepherd Commercial, we are facilitating sub 1,000sqft deals yet the larger deals on our stock list bring our average up to around 5,000sqft.
If we split the average size of a commercial property across the three core sectors of retail, industrial and office, we more than likely paint a different picture. The likes of logistic hubs and industrial ‘sheds’ have a much larger average due to the nature of the asset where as retail space has the lowest average of the three.
What is the average size of an office in the UK?
The average take up size of a commercial office in the last 5 years is 6,595sqft
What is the average size of a retail unit?
The average size of a retail unit (shop) in the UK is 3,792sqft
What is the average size of an industrial unit (warehouse) in the UK?
The average size of an industrial unit in the UK is 17,034sqft
To conclude, the data is quite predictable when looking at the usage type classes of the commercial property, it is obvious that industrial would take up more space than retail and the costs incurred to let a high street retail store is inevitably higher than a roadside storage unit.
We advise all commercial landlords and property owners to regularly update their valuations on their portfolio and seek advice on tenancy sourcing or disposal, should they remain interested. Call us on 01564778890