Rents in all the major M4 and M3 markets in the Thames Valley increased in the first half of 2016, say researchers at JLL. However, the figures suggest rental growth could begin to slow.
The data – from JLL’s Western Corridor report – suggests the total volume of industrial and warehouse deals rose slightly, up 9 per cent to 3m sq ft.
Around one-third of floorspace let in the Park Royal to Reading and Basingstoke motorway corridors was Grade A space – meaning around 1m sq ft of new or nearly new. However, the supply of new or nearly new floorspace doubled to 2.6m sq ft. another 12 schemes totaling1.4m sq ft are under construction.
Our property editor says these factors are likely to have the effect of limiting rental growth.