UKWA Standard Property Lease 2022 Weightmans co-develops out-of-the-box lease
Weightmans have worked with the UK Warehousing Association and Savills to develop an ‘out of the box’ form of model warehouse lease for their members, with explanatory notes, which will provide a good starting point for negotiating a new lease of this type of property in 2022.
The digitisation of the supply chain, increased automation, consumer behaviours, ESG reporting requirements and of course the pandemic have accelerated the change in warehousing requirements for developers, occupiers and their customers.
Massive take up, climbing demand for space and rapid growth has come to define the sector with only 3% vacancy rates in Q2 2022 and investment volumes reach £4.8bn - the highest H1 level ever.
These recent figures, coupled with the uncertain economic times ahead, mean the need to move quickly to secure new sites is greater than ever; this lease aims to assist the parties do just that.
We have listened to the experiences and requirements of the UKWA membership and have incorporated the professional and practical input of Savills on what developers, investors and their occupiers require in order to produce this lease.
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Matthew Williamson
