Take-up of U.K. logistics space totaled 10.43 million square feet in first quarter 2022, representing an increase of 100 percent compared to first quarter 2021, which saw take-up of 5.21 million square feet, according to CBRE.
A total of 41 deals have been completed this quarter, a 64-percent increase compared to first quarter 2021, which saw 25 deals completed.
The strong take-up figures are backed up by a record amount of logistics space under offer, which soared to 22.46 million square feet across 48 prospective deals, signaling a strong year ahead. This represents an increase of 40 percent compared to the previous record set in first quarter 2021, which saw logistics space under offer at 16.04 million square feet.
At a sector level, third-party logistics dominated take-up, accounting for 27 percent. During the past two years, pure online retail has captured the largest proportion of take-up due to long-term shifts in shopping patterns, reaching almost 40 per
