Victoria Towers comments on the rise of the multi-let and mid-box market for Property Week
Multi-let and mid-box industrial and logistics developments serve a vast array of tenants, from small-time mechanics offering car tune-ups to delivery firms seeking last-mile distribution centres. And while this section of the market might not attract the biggest industrial and logistics occupiers paying top market rents, it has started to gain a reputation for high rental growth and for delivering decent returns for investors. It is also seeing occupiers seeking higher-quality units.
Alongside the comments of other real estate leaders, Victoria Towers adds her thoughts where she warns that the emergence of higher-quality units in the market has made potential occupiers “more forthright” in their demands and willing to break off negotiations on lets.
“If negotiations get too complicated or they are not agreeable, they will go down the road to another estate. There is competition out there and tenants are keen to find the right space, but on their terms.”
Read the full article, including the thoughts of other real estate professionals, in Property Week’s Industrial and Logistics supplement published on 25 October 2024.
Subcribe to news and viewsThere is competition out there and tenants are keen to find the right space, but on their terms.
