The Midlands market has experienced levels of take up not seen since 2014 equating to 17.01m sq ft on buildings above 50,000 sq ft, 25% above the 5 year average.
Knight Frank LOGIC data for the Midlands has recorded the following levels of take up during 2020:
Headline transactions have been as follows:
Transaction volumes per size:
Transactions by region:
The East Midlands recorded 67% of transactions in 2020 totalling 11.3m sq ft. Of this approximately 40% were on a build to suit basis.
Midlands take up over past 5 years:
This year has recorded the highest levels of take up in the Midlands over recent years, almost 25% over the 5-year average.
The Midlands has experienced rental growth over the past twelve months, with headline rents achieving £6.95 per sq ft above 100,000 sq ft. The gap between new and good quality second hand space has closed with occupiers valuing existing fit out.