“In west London we were involved in a site disposal where it was £7m per acre, and we’ve now got clients offering us £9m a mile up the road" [...] Everyone is saying: is this sustainable?”
For some operators, the answer will be no. Even those with more cash at their disposal will have to think carefully about expansion, says Neil Dryer, real estate partner at law firm Russell-Cooke."
Neil Dryer appears in Megan Tatum's article, "How rapid delivery has led a space race in the UK’s cities", in The Grocer to explain that last-mile logistics are notoriously expensive in terms of the cost of warehousing in inner-urban areas and maintaining the fulfilment and delivery infrastructure.
A full pdf of the article is available here.
Neil is a partner in the real estate team. He has extensive experience acting on a broad range of commercial property transactions, with a particular focus on investment transactions and complex development projects, as well as on leasing and property management and real estate finance.