Property rates in London rise, thanks to rapid delivery firms like Getir, Gorillas, and Zapp. Delivery firms like these promise to ship essential goods to people’s doors in a matter of minutes have spread across London this year.
The growth in the number of such establishments has seen the commercial rents climb in prime London locations. According to the industry executives and investors, “hyper localization” is key to success in the quick grocery delivery market.
Most of these services rely on “dark stores” sort of small warehouses, these are used to prepare for the online grocery orders for delivery. Similar to the dark kitchens in the food delivery business, these establishments don’t serve customers in-store.
According to Knight Frank, real estate agents, rents have surged in west London, where prime rent for small industrial units of about 20000 square feet has seen an increase of nearly £35 ($46) per sq ft in the third quarter of 2021, almost 75% more than a year ago.
Likewise in East London, the average rents for small industrial properties have climbed up to £25 per sq ft in the third quarter, up 47% year-over-year. Thanks to the influx of demand from rapid grocery delivery firms.
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