Record warehouse rent levels for London
Ultra-urban industrial investor and developer Bloom, and joint venture partner TPG Angelo Gordon have secured headline rents of up to a record £47 per ft2 across their London portfolio
By Liza Helps, Property Editor, Logistics Matters
THE NINE transactions, agreed on lease terms ranging from five to 15 years, span Bloom’s estates in Fulham, Camberwell, Park Royal and Poplar. The deals include new lettings, renewals and regears to a mix of occupiers drawn from food production, logistics and creative industries.
Bloom and TPG Angelo Gordon’s joint venture portfolio comprises seven ultra-urban industrial assets across London, located in Brixton, Greenwich, Hackney, Fulham, Camberwell, Park Royal and Poplar. Together, the portfolio provides approximately 285,000 sq ft of high-quality, multi-let industrial and business space across TfL Zones 2 and 3. All assets achieve EPC ratings of ‘A’ or ‘A+’, alongside BREEAM certifications of ‘Very Good’, ‘Excellent’ or ‘Outstanding’.
Bloom co-founder and partner Sam McGirr, said: “These lettings demonstrate the continued strength of demand for high-quality, sustainable industrial space in London’s most connected locations. The diversity of occupiers – from food and tech businesses to creative operators – reflects how our buildings are being used in new ways. Achieving record rents of up to £47 per ft2 underlines both the scarcity of this type of space and the value occupiers place on well-designed, well-located accommodation”.
Rents across th UK continue to rise – although not at quite the same rate as they were 18 months ago. According to property consultancy Colliers’ latest Industrial Rents Map the average rental growth in big box units across the UK rising 3% year-on-year
In warehouses of 100,000+ ft2 the average UK rent is now sitting at £11.95 per ft2, while prime headline rents for mid-box and multi-let industrial units has reached £15.80 per ft2 on average – a slightly higher year-on-year increase of 3.2%.
Colliers Co-Head of Industrial and Logistics Len Rosso said: “The industrial market in 2025 once again showcased its resilience with rents continuing to rise. However, it was noticeable that this growth was more subdued in the second half of the year, most likely due to the uncertainty caused by the Government’s delayed Budget, and ongoing macroeconomic factors, resulting in occupiers delaying decision making until they were sure of their upcoming costs.
“The increased availability of stock will have also played a role, as we’ve seen secondary assets coming back onto the market as break-clauses have been activated following the conclusion of the pandemic race for space.”
