Western Corridor Industrial & Logistics Market Report Autumn 2019

Welcome to the latest edition of our Western Corridor report which covers the first half of 2019. The report provides market data and insight on the industrial market in West London and the Thames Valley.

The report focuses on market activity and conditions in the first half of this year and compares these with the first and second halves of 2018. In addition, it offers some forward-looking views based on insights from our expert agents and model-based forecasts.

Among the key points to take-away:

• Occupational take-up softened in H1 but this was more a reflection of a lack of supply rather than a drop off in demand. Grade A take-up in the first half of 2019 was down on the five-year half-yearly average in both West London and the Thames Valley.
• Available supply ticked up slightly in H1 but remains historically low. Overall available supply increased 2% in the 12-months to mid-2019 whereas Grade A supply remained broadly unchanged.
• Speculative development picked up over the course of 2019, partly in response to the low levels of supply in the market. At mid-2019 there was around 1.1 million sq ft of industrial floorspace speculatively under construction across the Corridor compared with 710,000 sq ft a year ago.
• Prime rents continue to rise. On average prime headline rents increased by 6% over the 12-months to the end of September 2019 across the Western Corridor locations JLL monitors.
• Strong investor demand persists across the Corridor. The investment market continues to attract strong interest from investors and developers looking to capitalise on its good projected returns.

To find out more about our insights into the Western Corridor market, download our overview below or get in touch to request the full report.