Warehouses

"Transactional activity is up 49% on 2024."

"Supply has fallen by 45%, with the vacancy rate falling to 5.07%."

"Build-to-suit activity returns to the market in 2025."

"Of the 2.05 million sq ft available, 52% is poor-quality Grade C space, restricting occupier options."

"Moving into 2026, we anticipate core buyers slowly returning to the market, with continued investor sentiment shifting from single let to multi-let (MLI) assets."

"The logistics market has passed its toughest phase, but weak economic growth limits upsizing. Rental growth should stay modest at 2.7% in 2026, with supply moderation and structural trends paving the way for more landlord-friendly conditions later in the decade."

"With the commercial real estate market now refocusing on the refurbishment and reuse of existing assets, many landlords and investors are taking stock of their warehouse portfolios to identify essential yet cost-effective improvements."