"Europe’s digital grocery future is built on bricks and mortar, with stores acting as the backbone for fulfilment, last‑mile efficiency and profitable omnichannel growth."

"Automation streamlines, but compliance embeds long‑term capital costs into the grocery model."

"Margin pressure and rising capex push grocers toward M&A, buybacks and portfolio rationalisation."

"Portfolio scale, North American capital and balance sheet recycling inject liquidity."

"Europe’s grocery sector will remain resilient, but growth is modest — leaving cost discipline, format agility and balance‑sheet strength as the key drivers of outperformance."

"Economic outlook: After a year of turbulence, economic conditions point to growth in the industrial and logistics sector"

"There was 2.4 million sq ft of take-up across 70 deals in 2025, resulting in an average deal size of 34,100 sq ft. Despite growing by 81% compared to 2024, take-up remained 10% below the five-year average of 2.7 million sq ft. Delivery of new stock accelerated in the latter half of the year to bring total annual completions to 1.5 million sq ft, a more than threefold increase compared to 2024. The largest completion of the year, occurring in Q4, was 198,000 sq ft at Unit 2, Grange Castle West, in South County Dublin. The delivery of vacant completions contributed to a rise in the vacancy rate from 1.7% a year ago to 2.5% at the end of 2025. Meanwhile, market activity has led us to review prime rents upwards by €1.00 psf to €14.00 psf and secondary rents up by €0.75 psf to €11.50 psf."

"Supermarkets remain the dominant format within Spain’s grocery distribution market"