Take up slowed in Q1 2021 following a strong second half to 2020, when 1.7m sq ft of space was acquired. Overall activity in 2020 was 2.2m sq ft in the Essex market, with 1.5m sq ft of activity in ‘Big Box’ transactions. The largest deal last year was the 481,000 sq ft pre let to DHL at London Gateway, Stanford le Hope.
Letting activity slowed in the first three months of 2021, with a total of 237,500 sq ft of floor space acquired. The quarter’s activity was typified by a lack of larger transactions, with only one deal above 50,000 sq ft completing, the 94,200 sq ft letting to XPO at Boxset 95, Basildon.