In contrast, the take-up for the whole of 2015 was 2.6 million sq ft.

“With record take-up, the declining supply of high quality space in the last 12 months has led to virtually no prime standing stock available at all, which is a common factor across most of the UK industrial markets.

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any decision of the DAB, relevant to the dispute.” In summary, the SCA clarified the dispute resolution scheme under the FIDIC Red Book as follows: (a) the DAB’s decision is contractually binding on the parties and immediately enforceable, but it is not considered final if it has been referred to arbitration; (b) in such case, the enforcement of the DAB’s binding but non-final decision depends on the terms of the contract, but “the practical response is for the successful party in the DAB proceedings Hüften der.

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“As a result, we are seeing the return of significant speculative industrial possibly stands at its lowest levels ever and 2017 will be a challenging year for occupiers who need to source growth and relocation opportunities against tight timescales.” Tim Davies, of Colliers International, said: “The Avonmouth region is ideally situated for distribution and with first class rail, road and sea connectivity the location has all the key criteria for a top class intermodal facility.

Moreover, there is plenty of vacant land ‘oven ready’ for new development.

PGN promptly filed a notice of dissatisfaction (NOD), while CRW proceeded to invoice PGN for the award.

CRW subsequently filed a request for arbitration under Sub-clause 20.6 of the Red Book with the ICC International Court of Arbitration for the sole purpose of giving prompt effect to the DAB’s decision.

We are delighted with the pace of growth at Severnside, with Central Park providing economic benefits for the whole region (not just South Gloucestershire), from a retail, employer and supply-chain perspective.” Paul Hobbs said: “We’re expecting 2016 to end on a high for industrial take-up in Bristol.

The first six months of the year recorded a massive 3.217 m sq ft and 48.36 acres of development land – that is only 1 per cent off the whole of grade A industrial take-up in the core East Midlands hotspot.

Abdul Choudhury, economic development Officer at South Gloucestershire Council said: “Prospective occupiers (both foreign and domestic) are looking to address changes in consumer shopping habits through hub and spoke distribution centres and are reacting to evolving about HGV driving times.

“The former is addressed by Central Park providing a vast ready-to-go opportunity with extant permission in place and the latter by a new, imminent junction on the M49, due for completion in 2019.

A dispute under the contract was referred to the DAB consisting of a single ajudicator.