Western Corridor market update - Spring 2023
JLL's Western Corridor Industrial & Logistics market update – Spring 2023 provides data & insight on industrial market in West London and Thames Valley
- Oliver Jones
- Jon Sleeman
This edition covers the second half of 2022 looks at key metrics such as demand, supply and rents across the Western Corridor industrial & logistics market.
Our key takeaways highlight:
Occupier demand over 2022 remained above the five-year average. The total take-up of industrial and logistics floorspace hit 5.3 million sq ft.
Supply across the Western Corridor increased from its record low at the end of 2021 (3.9 million sq ft) to 4.7 million sq ft at the end of 2022. However, despite this uplift, end-2022 supply was still 16% lower than the five-year end-of-year average.
- Despite a tumultuous year, rents across the Corridor continued to rise. Prime headline rents in many of the locations JLL monitor posted double-digit growth over 2022.
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