B8RE Launch Their Biannual North West Industrial and Logistics Market Report

We are pleased to announce our bi-annual market report focussing on the North West industrial and logistics market 2023 highlights include:

• Approximately £1.46BN of North West industrial investments transacted in 2023.
• This was 62% ahead of the £900M transacted in 2022, albeit skewed by a number of large acquisitions.
• A reduced but healthy weight of investor demand targeting North West industrial investments throughout 2023.
• Supply remained restricted, albeit increased stock came to the market in H2 2023.
• Pricing for prime assets remained robust throughout 2023, albeit down significantly from the H2 2022 peak.
• The price differential between prime and secondary assets grew throughout the year.
• 2023 ‘Big Box’ occupational take-up in the North West stood at 2.73M sq ft, a 43% decrease on the 5 year average and more in line with pre-covid levels.
• Prime Big Box rents have achieved £9.50 per sq ft - £10.00 per sq ft, a 20% annual increase.
• New build mid-box & MLI take-up remained strong in 2023, above the 5 year average.
• Rental levels across all new build size brackets <90,000 sq ft were up 15% on 2022.
• 4M sq ft of MLI / mid-box development currently under construction across 14 schemes.

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