Prime Logistics is an essential tool for any developer, investor or occupier interested in the market for logistics buildings over 50,000 sq ft in size across each of the UK’s 26 key distribution markets.
Occupier take-up increased by 12% in Q3, the first quarter-on-quarter rise in a year. Manufacturing occupiers, notably those in the construction and housebuilding sector accounted for roughly half of all activity, going someway to fill the post-pandemic gap left by internet retailers. On a rolling annual basis, occupier demand is now back to the pre-pandemic trend, though business plans continue to be hampered by a challenging economic backdrop.
Headline prime rents increased further in Q3, broadly in line with inflation. Availability also edged-up, largely due to the completion of new speculative buildings. Availability nevertheless remains below the pre-pandemic rate. Speculative development starts slowed further in Q3, which continues to support headline rents.
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