Friday 14 December 2018

Industrial sector sees 33 Q3 deals

The greatest level of activity continues to be in smaller-sized spaces, with 67pc of deals being for spaces of less than 10,000 sq ft.
The greatest level of activity continues to be in smaller-sized spaces, with 67pc of deals being for spaces of less than 10,000 sq ft.
Ronald Quinlan

Ronald Quinlan

Thirty-three deals totalling 407,904 sq ft of industrial space were undertaken in the third quarter, according to the latest property sector report from JLL.

Both the number and size of the completed transactions were down - a decrease of 42pc in the quarter and a 55pc fall on the equivalent period last year.

Commenting on the latest set of figures, JLL's divisional director and head of research, Hannah Dwyer, noted there had been only one transaction greater than 50,000 sq ft in the three months to the end of September.

In the previous quarter there were four.

The greatest level of activity continues to be in smaller-sized spaces, with 67pc of deals being for spaces of less than 10,000 sq ft.

But while the numbers are down, Dwyer maintains the outlook for industrial property remains balanced.

This is despite factors such as "globalisation, Brexit concerns and a lack of indigenous take-up casting some caution on the sector".

She adds: "In addition, the lack of supply in the market is impacting occupier decisions, with limited suitable existing stock available.

"We are currently dealing with a number of active enquiries from large occupiers, and there is limited choice in terms of the product we can offer them".

Sunday Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business