Occupier demand for mid box warehouse space drops
According to the latest UK logistics and industrial space research from CBRE, the demand for mid box space fell to its lowest level since 2018 last year.
By Liza Helps, Property Editor, Logistics Matters
THE REPORT noted that demand for mid box units fell to its lowest level since 2018 to 6 million ft2 as SMEs continued to navigate economic uncertainty and cost headwinds.
Looking at the wider market occupier groups such as 3PLs, retailer and manufacturers helped drive take-up to a record breaking 37.4 million ft2 12% ahead of the five-year pre-pandemic average.
Supply increased to 74.3 million ft2 with more than half of that (37.4 million) in second hand buildings.
