Download our latest Market Report – July 2023

We are pleased to announce our bi-annual market report focussing on the North West industrial and logistics market

  • Approximately £979M of North West industrial investments were transacted in H1 2023.
  • This was 94% ahead of the £505M transacted in H1 2022, albeit heavily skewed by Blackstone’s £480m acquisition of the Trafford Park Portfolio and Heywood Distribution Park.
  • Transaction volumes slowed, with the number of completed sales 25% down on H1 2022.
  • Investor demand remained robust, albeit purchasers were more selective, with revised pricing expectations.
  • Investment supply has been limited, with a current lack of distress. However further headwinds became evident in Q2, which may now lead to more investment supply in H2 at revised pricing levels.
  • Pricing remained volatile and difficult to assess, particularly in the wake of continued interest rate rises and uncertainty as to where they will peak.
  • H1 2023 Big Box take-up witnessed the first slowdown in 4 years totalling 1.5M sq ft. This was down 64% from a record H1 2022, albeit there are a significant number of larger deals in solicitor’s hands.
  • New build supply is 31% lower than the 1.02M sq ft recorded at the end of 2022, helping to maintain continued rental growth for deals in the market.
  • New build mid-box & MLI take-up remains strong with 2023 projected to end above the 5 year average.
  • Record headline new build rentals achieved in excess of £10.00 per sq ft across all mid-box & MLI sizes (5,000 to 75,000 sq ft).
  • Whilst viewing and enquiry levels were slightly down comparative to last year, we continue to see occupiers wanting to modernise and expect take-up levels of new build / modern stock to remain strong for year end.

To read more on these trends and hear from our experts download our latest biannual market report


Investment Properties

Investment Properties

We are market leaders in industrial investment in the North West, offering property investment consultancy to a range of clients, including institutions, property companies, overseas investors and high net worth individuals.

Our knowledge and direct agency experience of locations in the North of England combined with our professional network position us perfectly to source the right investment opportunities for you.

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