INSIGHT
Big box bulletin
Q1 2022 review of distribution activity
Unit 4, Omega West, Warrington
DATA & ANALYSIS
COMMENTARY
Andrew Jackson
Principal & Managing Director, Industrial
Robert Rae
Principal & Managing Director, Industrial
OCCUPIER MARKET IN BRIEF
The first quarter of 2022 has been somewhat muted for take-up of Grade-A Big Box space, totalling only 4.3 million sq ft, significantly lower than last years’ record Q1 take-up levels of 13.5 million sq ft and 40% lower than the five-year Q1 average of 7.4 million sq ft.
"2022 will be a challenging year for the industrial market, driven by external factors such as ongoing supply chain problems and potential construction delays, however, this is unlikely to hamper demand for space."
Tom Bridgman
Principal, Investment
INVESTMENT MARKET IN BRIEF
Investment volumes for distribution and industrial assets during the first quarter of 2022 totalled £1.9 billion. This was 8% down on the comparative period in 2021 and just 3% down on the five-year quarterly average.
“Despite a relatively subdued first quarter, which could be driven by the current economic and political situation – as well as a replenishing of investment stock, after a flurry of activity during the final quarter of 2021 - strong fundamentals will continue to underpin demand across the market.“
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