Our View
Activity has continued at below trend levels in the first three quarters of 2023, with a slowing in Big Box lettings putting a brake on the overall take up figure. In the year to date there have only been three Big Box deals, two at London Gateway, where Transmec (165,000 sq ft) and Cosco Shipping Crystal Logistics (119,350 sq ft) committed to units whilst a 650,000 sq ft pre let was agreed at Panattoni Park Aylesford in July 2023. Smaller lettings (<25,000 sq ft) have remained significant, accounting for 50% of all activity, in line with the long run average for the Eastern M25 market.
Industrial Market Take up
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