Market sentiment positive: rising demand offsets lower take-up and construction levels.
Insight
Multi-let and Mid Box – Autumn 2024
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Welcome to the new edition of our multi-let and mid box industrial market report, which focuses on new industrial schemes and buildings between 5,000 sq ft and 99,999 sq ft. The report provides data on take-up, available supply, space under construction and rents and yields plus insights from our agents aground GB.
Key take-aways
Take-up in the first three quarters of 2024 totalled 3.9 million sq ft, down 12% on the same period last year
Whist immediately available supply was up 21% on the year to 9.7 million sq ft, space speculatively under construction fell 26% to just 4.2 million sq ft at the end of September 2024
Rental growth remained robust. In the twelve months to September 2024 prime rents increased by an unweighted average of 4.9% across the locations JLL monitor
At present, demand and enquiry levels are increasing and the overall market sentiment remains positive.
To discover more about the multi-let and mid box industrial market, download our latest report.