Download our latest Market Report – January 2023

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

• Approximately £900M of North West industrial investments transacted in 2022 – ahead of the 5 year average, but down 31% on the record £1.30BN transacted in 2021.
• Significant shift in investor demand throughout H2, fuelled by dramatically rising interesting rates, inflationary pressures and concerns over the wider economy.
• Lack of investment supply in H2, driven by a lack of vendor distress and a disparity between seller and purchaser expectations.
• Majority of speculative funding opportunities no longer viable due to rising build costs, finance costs and yields moving outwards.
• Occupational take up in 2022 recorded at 6.06M sq ft, a 20% increase on the 5 year North West average, but heavily weighted towards H1 2022.
• Availability of ‘Big Box’ new supply is likely to remain constrained with some new build developments likely to be put on hold due to funding viability.
• Prime ‘Big Box’ rents are now £7.75 per sq ft - £8.00 per sq ft which we expect to increase heading into 2023.
• 2022 saw occupier demand for new build mid-box / MLI units outstrip 2021 take-up, largely driven by an increase in smaller multi-let development.
• Land values have dramatically changed over the last 12 months, with prime sites now believed to be down to c.£1.00M per acre.

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

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