Industrial & Logistics Agency Trends
A few trends have emerged over the last seven weeks and our industrial agents have summarised their most prominent findings since the UK has entered lockdown.
Here are some of the top takeaways from the last few weeks, and we will keep you updated as things begin to shift further and what it is translating to for industrial properties currently on the market.
- Our Industrial & Logistics Agency team have seen some inevitable letting transactions fall apart in March and April, although this only amounted to 25% of pre-COVID-19 properties under offer.
- The economic uncertainty which began late March resulted in a slower month, with the logistical challenge of potential occupiers’ decision-makers relocating their operations remotely.
- We are seeing many operators requiring additional short-let space to support their supply chain through increased or predicted demand.
- Our team exchanged on over 36,000 Sq Ft of industrial property across London and Essex. You can view those here.
- During April, new occupier activity increased albeit with new requirement levels at roughly 30% of January, which included a certain element of post-Election optimism.
- In recent weeks we managed to put under offer a number of new transactions and have remotely or socially distanced viewings undertaken.
- There is no doubt that SMEs will be under significant pressure for the short term which will impact negatively on lease terms, but the prospects for the distribution sector remains positive and we expect overall levels of demand to increase soon.
We will keep you updated as things progress, and in the meantime, please get in contact with our team to answer any of your questions of for a general chat.