Companies leased more warehouse space in 2021 than ever before, prompting record levels of investment in the logistics sector.
Thanks to the boom in online shopping during the pandemic, 70.1 million sq ft of industrial warehouse space, equivalent to more than 1,000 football pitches, was leased or sold last year, according to Cushman & Wakefield, the property agent. That was up nearly a third on the previous high of 53 million sq ft set in 2020 and more than double the take-up in a “normal” year before the pandemic.
“As ecommerce-led demand continues to outstrip supply, we are seeing rental levels and land values reach new highs across the UK, especially in London,” Richard Evans, Cushman & Wakefield’s head of UK logistics, said. Online retail
