We thank all of our clients and contacts who we have had the opportunity to work with again this year. Our outlook for the next year is positive and we will continue to work hard to deliver results across our teams.
\nWishing you a happy and successful new year!
","Content_and_Image":[{"Content_Section":"2024 saw some key trends emerge from the year with rent fluctuations, more progress towards the focus on sustainability, shifting occupier demands and development trends.
\nThe year brought its fair share of challenges for the property market, and the industrial sector was put through its paces as well. Despite challenges such as high inflation and interest rates, demand is apparent, albeit this remains modest compared to recent years.
\nFrom major land sales, facilitating moves for prominent occupiers and supporting the growth of some of the best industrial estates in London, it's been a busy year for the agency team.
\nIn total, we've transacted on or placed under offer 1.32m sq ft of industrial space this year, ranging from large-scale units in prominent industrial parks and smaller warehouse and workshop spaces to significant land transactions.
\nOur data shows that target occupancy remains steady, with occupiers still looking for industrial spaces in 2024, which is likely to continue in Q1 of 2025.
\nWe have continued to deliver in our core and are incredibly proud of our recognition in activity.
\n","Image_Section":null}],"Show_Subscribe_Updates":true,"Accordion_Component":[{"Title":"Industrial Estate Landscape","Content":"
Over the year, we have been working with numerous landlords/owners across several East and North London industrial estates to provide a suitable tenant mix and position for the wider trends in the area.
\nLockwood Industrial Estate, Tottenham
\nRangemoor Industrial Estate, Tottenham
\nLockwood Way, Walthamstow E17
\nInstructions
\nComing in 2025
\nUplands Business Park, Walthamstow E17
\nTransactions
\nComing in 2025
\nFlorentia Clothing Village, Harringay
\nTransactions
\nComing in 2025
\n\n
From our deep dive into trends back in June, we are seeing a steady interest from the creative sector of artists, markers, and fashion brands.
\nThis year alone, we've found homes for two major fashion retailers in Kings Cross Industrial space - Chanel moving into Unit 10 Brewery Road and Alexander McQueen moving into Unit 12. It was a big move for both retailers, occupying 35,391 sq ft.
\nIndustrial spaces in London are often compromised by a lack of loading facilities or traditional logistics constraints, making these refurbished units unique and fitting for modern urban logistics, which need easy accessibility into London.
\nWe've had interest from F&B providers, beauty, wellness, fashion, health, and more for viewings and searches, emphasising that more businesses are open to well-connected industrial spaces that fit their requirements.
\nThere has been steady e-commerce growth thanks to the expansion of online retail - relying on fast delivery services to fulfil customer expectations.
\nGrowth in the F&B and pharmaceutical sectors has continued through 2024, with more businesses looking for spaces accommodating temperature control facilities.
\nThe Uplands Business Park Expansion is a clear example of this - from Hackney Gelato and Square Mile's recent expansion to newer businesses joining, like Ted Veg, and the site continues building on the vision of an artisanal/industrial-led community by catering to their requirements.
","Read_More_ID":null,"Image":null},{"Title":"Increased demand in development sites ","Content":"Buying development sites has been popular this year, even with market uncertainties. Some of our key transactions include:
\nKey transactions
\n4 Acre Site in London Borough of Newham
\nLand with planning permission for a future £1B data centre
\nNotable instructions
\n2.63 acre with residential planning permission in Grays
\n2.03 acres for redevelopment in Leyton E10
\n0.71 acres in Stoke Newington N17
\n0.982 acres in Bruce Grove N17
\nThere has been a continued demand for industrial and open storage space. We've advised both local authorities and private clients that we've managed to sell and re-gear existing leases on their behalf.
\nKey transactions
\nSold 5 acres (net 2.5 usable) for £5m at Arundel Road, Uxbridge
\nSold an acre of land in Grays
\nAdvising on a 1.28 acre site in Wick Lane
\nComing soon
\n\n
With the market shift and noticeably different types of occupiers entering the playing field, we've noticed:
\nWe touched on this in our last trends update - occupiers looking for larger industrial units have sustainable and ESG specifications as a core requirement in mind when deciding. All ESG-compliant buildings are considered \"prime\" assets, offering better long-term prospects for investors who will save on future retro-fitting costs.
\nAs sustainability is becoming something that businesses and brands align their corporate goals with, this requirement is becoming more of a market differentiator alongside a compliance necessity.
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