20210607-莱坊-LOGIC_North_West_Q2_2021_1页_350kb

Knight Frank Industrial Market Q2 2021 Summary

Demand: Occupier demand for industrial space in the UK remains high, with 4.9 million square feet leased in H1 2021, the highest recorded first half.

• Drivers: Online retail continues to be a major driver, but the manufacturing sector has seen a significant increase, exemplified by a large deal with Shmitz Cargobull.

Supply & Investment: Planning consent for over 2 million sq ft of new development has been granted, although availability of new stock remains limited across all sizes.

• Land Values: Prime land values have doubled from 18 months ago due to strong demand and scarcity of new sites.
• Yields: Prime yields are at 3.75%, and forecast rental growth is 29% over five years.

Market Data:

• Prime Rent: £7.25 per sq ft
• Vacancy Rate: 6.2%
• 5-Year Rental Growth Forecast: 3% per annum

Investment: Investment volumes in Q2 2021 were 391% higher than Q2 2020.

Key Notes:

• All figures under 50,000 sq ft are excluded.
• Units of measurement corrected or clarified (sq ft in deals, % in vacancy, £/sq ft in rent, %pa in growth/return).

Disclaimer:

• This report is published for general information only.
• Information provided should not be relied upon, and Knight Frank LLP cannot be held liable for any resulting loss or damage.
• This report represents general analysis and does not reflect views on specific properties or projects.
• Reproduction is not permitted without written consent.
• © Knight Frank LLP 2021.