UK Logistics Q3 2023

The CBRE Intelligent Investment UK Logistics Q3 2023 Market Summary reports that UK logistics take-up in Q3 2023 was 13.3 million square feet, representing a 56% decrease compared to the same period in 2022. Take-up in Q3 was stable at 3.3 million square feet. Logistics companies are holding off on expansion plans due to continued uncertainty in the economy and declining retail sales. Construction has decreased as supply responds to the slowdown in demand, with new completed space and second-hand available space increasing compared to the end of Q2. The East Midlands continued to have the largest share of logistics take-up, accounting for almost half of the total. The UK Logistics availability Q3 2023 by region was 16.8%. The report also highlights that the UK Logistics take-up share was 16.8% and the UK Logistics availability was 14.6%.