20220722-莱坊-LOGIC_South_Yorkshire_Q2_2022_5页_1mb

报告摘要

South Yorkshire and North East Derbyshire's industrial market shows robust occupier demand and high levels of enquiry, despite limited immediately available stock.
Strong speculative pipeline aims to address supply gaps. Key developments set to open include Shepcote Lane (Sheffield, up to 367k sq ft) and units at PC (Barnsley), Panattoni Park (Rotherham), Horizon Bolsover, and Unity Doncaster.
Distribution led by 57% in total take-up over the past year.

Total immediate available space: 1.83 million sq ft (73% under offer).
Just ~8 months future supply currently exists to meet demand, with a vacancy rate of 3.2% (lower than recent levels but healthy).

Investment volume in H1 2022 was £151.8 million, a £38.4 million decrease (25% YoY) compared to H1 2021.
Stronger overall activity over H1 2022: £541.5 million invested (YoY +273.6 million) compared to H1 2021.
Over half (56%) of investors were overseas in the last year.
Average weighted yield decreased to 5.2% (from 5.5% YoY).

Despite strong demand, cautiousness towards investment emerged, suggesting potential for future growth.

Prime rents across all unit sizes increased due to supply/demand pressures, especially for smaller units in Doncaster (up to 15% YoY).
Overall predicted annual rental growth for Yorkshire and Humber is 7.0%, slightly higher than the UK average of ~4.6%>, with Sheffield expected at 8.5%.

Supply: Limited immediate supply is forcing demand and potentially underpinning speculation.
Demand: High, driven by distribution, manufacturing, and other sectors.
Investment: Activity is lower than first-half 2021 but significantly higher than peak lockdown levels, supported by overseas capital.
Rent Growth: Prices remaining firm due to pressures.
Future Supply: New speculative units expected later this year and 2023 to alleviate supply constraints.

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