Briefing Note
Our Business Rates Policy Lead, @JerrySchurder Schurder joined @MattChorley to discuss the shocking findings of th… https://t.co/f4QZLzAsbL
2 years agoPrime 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.
MARKET OVERVIEW
The UK industrial and logistics sector broke every record in the book in 2021. Occupier take-up was 24.7m sq ft in Q4, more than any other quarter on record. In turn, an incredible 87.6m sq ft was taken-up in 2021, the most in one year on record and 46% up on the previous high in 2020. Availability fell again to 4.5% by the year-end – the lowest rate on record. Meanwhile prime rents increased by an average 13.7% in 2021 – the fastest-ever rate. Multiple occupier sectors are competing with internet retailers and logistics operators for accommodation. This will continue to keep demand high and supports a strong outlook for rental growth. For some occupiers, however, rising operational costs and rental affordability are of increasing concern.
Q4 2021 in numbers
take-up in 2021
UK availability rate
prime rental growth in 2021
spec development starts in 2021
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