Take-up

For prime mid-box units in London, transactional activity in 2026 YTD totalled 624,000 sq ft across 12 transactions, up 34% year-on-year and surpassing prime take-up in 2025. Across the size bands, units between 20,000–40,000 sq ft accounted for 22% of take-up, 40,000–60,000 sq ft accounted for 16%, 60,000–80,000 sq ft accounted for 34%, and 80,000–100,000 sq ft accounted for 28%.

Occupier Sector Take-up

There is a diverse range of occupiers taking space, with third-party logistics accounting for 35%. The remainder of the activity is made up of wholesalers accounting for 15%, food producers accounting for 13%, and parcel companies accounting for 10%.

Supply

The current availability stands at 3.28 million sq ft across 69 units. This has increased by 5% quarter-on-quarter and by 8% year-on-year. The majority of available space is for units between 60,000–80,000 sq ft.

By size band for units between 20,000–40,000 sq ft, available supply totals 915,000 sq ft, followed by units between 40,000–60,000 sq ft at 797,000 sq ft, 60,000–80,000 sq ft at 1.05 million sq ft and 80,000–100,000 sq ft at 515,000 sq ft.

Speculative Pipeline

There is 355,000 sq ft currently under construction across 10 units. There is 200,000 sq ft between 20,000–40,000 sq ft, 94,000 sq ft between 40,000–60,000 sq ft and 60,000 sq ft between 60,000–80,000 sq ft. There are no units between 80,000–100,000 sq ft under construction.

In Q3 2026, there were no speculative announcements but 78,000 sq ft of speculative completions.

Years of Supply

Across London, there are 4.71 years of supply based on the three-year average annual take-up. By size band, there are 4.23 years of supply in the 20,000–40,000 sq ft range, 2.89 years of supply in the 40,000–60,000 sq ft range, 9.22 years in the 60,000–80,000 sq ft range and 5.72 years of supply in the 80,000–100,000 sq ft range.

Quoting Rents

The prime quoting rents for London range from £16.50 psf to £37.50 psf, with prime rents in most markets remaining stable.

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