20220421-莱坊-LOGIC_West_Yorkshire_Q1_2022_5页_1mb

West Yorkshire & The Humber Industrial & Logistics Market Analysis

1. Market Overview (Q1 2022)

• Occupier take-up increased by 18% YOY, hindered by severe stock shortage.
• Retail dominates (58% of activity), vacancy rate hits 1.2% (new record low).
• Total availability fell to 802,800 sq ft (older second-hand stock).

2. Key Metrics

• Rent Growth: Prime rents (units > 50k sq ft) rose 3.8% YoY (Leeds: £6.75 psf, Bradford: +8% YoY).
• Investment Surge: Rolling twelve-month investment totaled £1 billion (+185% YoY).
  • Overseas capital leads (45% of investment).
  • Amazon Wakefield Hub (£233M) tops Q1 deal value.

3. Development Pipeline

• 5.2M sq ft speculative space under development (pipeline 18% higher YoY).
• Risks: Supply lag due to <360k sq ft new build underway.

4. Outlook

• Forecasted 5.8% YoY rental growth in 2022 (Leeds: 6.5%).
• Supply constraints expected to widen (development lag), driving sustained demand.

Reference: Knight Frank Q1 2022 Report