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December 2020 - January 2021
The property industry has endured a gruelling 2020. The hospitality and retail sectors have taken a battering as operators were forced to close for months on end due to Covid-19 pandemic restrictions. And millions of square feet of office space has lain empty as companies ordered their workforce to work from home.
However, one sector that has not only survived but seemingly thrived during the pandemic and ensuing recession is industrial and logistics.
This year has seen the sector’s highest-ever recorded take-up (46.8msq ft) and the UK’s biggest-ever warehouse investment deal with Blackstone paying £473m for Prologis’ Platform portfolio in October.
The industrial and logistics sector appears to be in rude health and the future outlook looks pretty rosy as well judging by the findings of Property Week, Savills and Tritax Symmetry’s fourth annual Industrial and Logistics Census, in association with Analytiqa.
The census canvassed the opinion of industrial and logistics occupiers, developers, land owners, investors, asset managers, advisers/consultants and agents to create a rounded picture of the current state of the market; and given the economic issues caused by the pandemic and uncertainties surrounding the UK’s future trading terms with the EU, the findings are pretty impressive.
To view further insight from the latest UK Logistics Property Census, please click here.