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“Prime rents in East London moved to a new record high again in Q1 2022, with rents in Canning Town now at £32.50 per sq ft, 76% higher than their pre pandemic level.”

Peter Higgins
Divisional Partner
Image of Peter Higgins

Our View

The East London industrial market recorded its highest level of activity in eight years in 2021, with 1.2m sq ft of space acquired.  Take up has been dominated by lettings below 50,000 sq ft, which has accounted for 81% of all deals.  Both Big Box and Mid Box activity has remained constrained, with only two deals above 50,000 sq ft in the year.

Early estimates for take up in Q1 2022 show a slowing in activity, with the focus remaining on small and medium sized lettings.  Overall take up was just below 100,000 sq ft, with activity held back by shortages in stock across all size bands.     

     

Industrial market take-up
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Key Contact

Peter Higgins

Peter Higgins

Divisional Partner
020 3141 3534
[email protected]