Average prime and secondary rents in the Midlands' logistics and industrial sector have remained static over the last 12 months. 

Colliers International's newly launched Logistics and Industrial Big Sheds Rent Map 2011 put 12 locations in the East and West Midlands under the spotlight, but found that not one of them had shifted by so much as a penny.

Simon Norton, joint head of the logistics and industrial department at the Birmingham office of Colliers International, said: "I got a distinct feeling of deja-vu reading the statistics. They are no different from 2010."

If you roll back the clock by five years, however, prime rents for 200,000 sq ft plus sheds ranged from £4.50 - 6.00. Now, the range is £4.25 - 5.00. 

Secondary space has also seen average rentals decline over five years. Top rents in 2006 were £4.75, but have fallen to £4.00 in 2011. 

Colliers' Rent Map also reveals land values across the Midlands. Lot sizes of ten acres or more averaged £484 an acre in the West Midlands and £531 in the East Midlands in 2006. These have now fallen to £221 and £200 respectively.

Despite the stability of rents and land prices over the last two years, Simon believes they are only heading one way: northwards. 

He said: "Take-up of Grade A space in the past three years has started to eat into existing supply, resulting in signs of severe stock shortage. 

"The lack of speculative development, due to the scarcity of funding and the general downturn in confidence resulting from the recession, has exacerbated the situation. For the first time in years landlords are beginning to feel they may just have the upper hand and are holding out for better rental terms. 

"As far as land values are concerned, developers and speculators have seen the way the market is going, so demand is improving. As a result, land prices will soon start to escalate. 

"I suspect the Colliers Big Sheds Rent Map will make very different reading in 2012."