Our latest UK Logistics & Industrial Regional Outlook shows that take-up rose by 9% year on year in Q2 to return to its long-term average for H1.
Geographically, performance varied quite significantly, with the East Midlands and London/South East/East continuing to see a good rate of transactions, while the North West, Wales and South West had a slower start to the year.
Nationally, availability rose by 8% year on year to 63.8 million square feet, but that didn’t prevent rent from rising further (+ 3.2% in the 12 months to June).
While the flow of new enquiries slowed in Q2, the level of existing requirements is such that we expect take-up to bounce-back in H2 assuming Brexit is resolved later this year.
Key headlines include:
- 15.3 million square feet transacted in H1, just below the 10-year average of 15.7 million sq ft for the period
- 62 highest number of deals over a quarter since Q1 2015
- 31% take-up share of 3PLs, the most active occupiers in H1
Check out Cushman & Wakefield's National Logistics & Industrial Rent & Yield Map which shows the current rental rates and yield levels for towns & cities across the UK. Download Now.
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