Industrial take up across the Oxford-Cambridge Arc remained above trend levels for the seventh year in a row driven by an increase in the M1 South market in the second half of the year.
Activity across the key locations of the Oxford – Cambridge Arc was 4.3m sq ft in 2019, some 23% above the 10 year average and only marginally below the peak of activity in 2017.
The year was typified by the demand for grade A space, which accounted for 42% of all lettings as occupiers targeted recently completed space and pre lets ahead of completion.
The two most significant deals during the year were Eddie Stobart’s pre let of the entire 623,400 sq ft first phase at Panattoni Park Northampton, whilst Amazon leased Gazeley’s speculatively built 575,250 sq ft Altitude at Magna Park in the first half of the year.
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