Logistics growth across North East and Yorkshire with five new deals signed

A raft of logistics deals have been signed across the North East and Yorkshire in the first quarter of this year.

CBRE has released the UK Logistics Market Summary for Q1 2021, showing five deals signed within Yorkshire and the North East with total take-up reaching 900,000 sq ft.

According to the summary, Yorkshire and the North East regions saw an increase in prime big box rents in Q1. Five deals were signed in the region during Q1, all newly built units, with total take-up reaching 900,000 sq ft - a 67 per cent decrease quarter on quarter.

Mike Baugh, senior director of CBRE’s Industrial team in Leeds, commented: “We are delighted to see such a strong result for UK logistics at the start of this year.

“We anticipate there will be little new space available across all size ranges as we head towards the half year. It is encouraging to see developers reacting to this take up and continued demand with plans for further speculative development, however large scale employment land opportunities are still limited in the region.

“Following a record breaking quarter, including five successful deals on new units in the region, we are anticipating a busy year ahead!”