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“Grade A supply has fallen to an eight year low following strong activity over 2020/21.  There are no ready to occupy Grade A facilities above 100,000 sq ft on the market.”

Jim O'Connell
Divisional Partner
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Our View

Take up in the Essex region surpassed 2m sq ft for the second successive year in 2021, with a total of 2.1m sq ft of lettings completing.  Lettings were boosted by a strong year in the Big Box market, with six deals totalling 995,800 sq ft accounting for 46% of overall take up and three pre lets (643,750 sq ft) completing at DP World.   

Early indications show that activity slowed in the first quarter of 2022, with a total of 363,300 sq ft of take up completing but with the Big Box market remaining strong.  Two Big Box transactions were agreed, both at DP World, where London City Bond agreed to lease 146,200 sq ft whilst third party logistics operator, Magnum Logistics, pre let 100,000 sq ft.      

  

Industrial market take-up
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Key Contact

Jim O'Connell

Jim O'Connell

Divisional Partner
020 3141 3563
[email protected]