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Retail warehouse sales reached £754m in the third quarter – the highest quarterly total to-date in 2016 as activity returns to the market, according to Cushman & Wakefield.
An additional £394m of warehousing is currently under offer with a further £900m being marketed, pointing to a positive end to the year. Despite this, the recovery in transactions since June’s referendum vote to leave the EU has not been robust enough to make up for the subdued market conditions during the first half of the year. Total transactions of £1.73bn for the first three quarters of 2016 are down 33% compared to the same period for 2015 – although it should be noted that last year saw the highest volumes since 2006.
Jonathan Rumsey - Head of UK Retail Market Analysis - +44 (0)20 7152 5791