U.K. logistics space under offer reaches record high in Q1 2021

A record amount of U.K. logistics space was under offer at the end of 2021, totaling 16 million square feet across 55 units, according to CBRE.

This represents a 40 percent increase compared to first quarter 2020, which saw 11.5 million square feet under offer over 23 units.

Total take-up for first quarter 2021 was 5.2 million square feet, compared with 6.4 million square feet in first quarter 2020. However, a total of 25 deals have completed in first quarter 2021, more than double that in first quarter 2020, signaling a higher volume of transactions across smaller units throughout the quarter.

At sector level, pure online retail continues to account for the largest proportion of take-up at 48.2 percent, with some new players also taking logistics space for the first time. This reflects the response from the sector to the change in shopping trends brought about by the pandemic.

The North West led the regional take-up levels at 21.7 percent. The South East