Western Corridor Report Spring 2022
Occupier demand across the Western Corridor rebounded in 2021
April 11, 2022
- Jon Sleeman
- Oliver Jones
Some of the key takeaways from the Western Corridor Spring 2022 report include:
- Occupier demand across the Western Corridor remains elevated. Some 6.0 million sq ft of industrial and logistics floorspace was taken up in the Western Corridor in 2021, the second highest year on record and only surpassed by 2011 (6.1 million sq ft).
- Void rates across the Western Corridor are low. Available supply continued to fall and reached a record low of 3.9 million sq ft at the end of 2021 across the Western Corridor.
- Consequently, the market has seen a surge in rental values in many locations. For example, prime standard industrial rents in Park Royal and Heathrow increased by more than 50% over 2021 and rents in Slough jumped by 28%.
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