2020 best year on record for U.K. Logistics take-up
Take-up of U.K. logistics space in 2020 has exceeded that of any other year on record, with take-up for the year totaling 42.97 million square feet, according to the latest research from CBRE.
The figure is 69 percent higher than 2019, which saw take-up totaling 25.38 million square feet. A total of 134 deals were completed in 2020, representing a 45.7 percent increase from the 92 deals completed in 2019. The pipeline for 2021 continues to look strong with 8.6 million square feet currently under offer.
Online pure plays (companies with limited or no physical presence) and third-party logistics accounted for the largest proportion of total take-up, representing 31.3 percent and 29.3 percent, respectively. This compares to 22.1 percent and 22.7 percent, respectively, in 2019, when online pure plays and third-party logistics also accounted for the largest proportion of take-up.
The M1 corridor remains the most attractive location for U.K. logistics, with take-up in