• Take-up in Q3 15 was over 600,000 sq ft, an increase of 40% on Q2 and comfortably above the five and ten year quarterly averages
• The number of transactions increased from 50 to 70 quarter on quarter
• For the year to date, 1.5m sq ft has been taken-up, putting 2015 on course to match 2014’s record high of 2.1m sq ft
Despite a critical lack of supply, in particular, of grade A space, industrial take-up remained robust on the South Coast during Q3 2015. A major pre-let of 120,000 sq ft at Voyager Park provided a significant boost to this, however even without this deal, take-up would still have exceeded the five year quarterly average of 387,000 sq ft.
With no sign of a let-up in demand, we predict that headline rents and capital values will continue to increase and tenant inducements reduce.