Take-up slows at online retailers | News

In 2020 and 2021, e-tailers accounted for just over a third of industrial and logistics take-up, while third-party logistics operators accounted for just over a quarter of total take-up. However, e-merchants represent only 13% of take-up in 2022 to date, compared to 36% for 3PL operators, down sharply from the three-year average of 28%.

“This is partly due to companies outsourcing through third-party logistics operators, which therefore need more space, increasing their market share from 29% in 2020 to 36% in Q1 2022,” explains Will Laing, Industry Research Analyst. in Savills.

Laing says the data also highlights another interesting trend. “Following the political and economic uncertainty, we have also seen an increase in the number of car manufacturers and companies acquiring space, accounting for 21% of total demand so far in 2022, after being largely inactive. in recent years,” he said.

While the type of organization taking up space is changing, one thing that hasn’t changed is the rate of activity. In the first quarter of 2022, data from Savills shows take-up reached 12.7 million square feet – a new record for a first quarter, exceeding the long-term average by 79%. The company recorded 43 transactions in the first quarter, considerably more than the average figure of 29 in the first quarter.

However, there could be trouble ahead, Laing warns. “On the supply side, available space has fallen to an all-time low and now stands at 16.75m², down 46% from the same time last year,” it said. he declared. “This reflects a national average vacancy rate of just 2.77%, falling to 1.26% in the East Midlands.

“While there is 20.4 million square feet under construction, a significant portion of it is already on offer, which means supply will remain limited for the foreseeable future. This market dynamic will continue to push occupants towards tailor-made offers, which reached 40% of the market in the first quarter in terms of number of units. »

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