Take-up of U.K. logistics space in third quarter 2020 has surpassed the record-breaking take-up level in the second quarter to reach a total of 13.33 million square feet, according to CBRE.
This is 111 percent higher when compared with third quarter 2019, which saw take-up totaling 6.31 million square feet. The continuation of strong sector performance through third quarter 2020 takes total leasing activity in the first three quarters of the year to 32.57 million square feet. By comparison, the strongest full-year performance was in 2018, when take-up reached 31.78 million square feet.
A total of 45 deals have completed in third quarter 2020, compared with 21 for third quarter 2019, representing an increase of 114 percent. The average unit size was slightly smaller, at 296,171 square feet, compared with 300,709 square feet for the same period in 2019.
The first six months of the year saw take-up activity concentrated in the East Midlands, the South East, and Yor
