Research

Multi-let and Mid Box – Spring 2024

Investor sentiment remains strong for distribution and industrial assets, albeit with a limited amount of investment stock available.

May 17, 2024
Contributors:
  • Tim Clement
  • Jon Sleeman
  • Oliver Jones

Welcome to the new edition of our multi-let and mid box industrial market report, which focuses on new industrial schemes and buildings between 5,000 sq ft and 99,999 sq ft. The report provides data on take-up, available supply, space under construction and rents and yields plus insights from our agents aground GB.

Key take-aways
  • Take-up of new multi-let and mid box space totalled 5.9 million sq ft across GB in 2023. An additional 1.4 million sq ft was taken up in Q1 2024.

  • At the end of March 2024 there was 7.9 million sq ft available in completed buildings – slightly lower than September last year.

  • In addition, there was 6.2 million sq ft speculatively under construction. This figure was considerably down compared with 12 months previous and shows a continued downwards trend since our report began.

  • Investor sentiment remains strong for distribution and industrial assets with the return of the institutional market and private equity backed buyers, albeit with a limited amount of investment stock available.

To discover more about the multi-let and mid box industrial market, download our latest report.

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