Occupiers continue to prioritise modern, high-quality space, with Grade A assets accounting for 76% of take-up and transactions involving units over 400,000 sq ft rising 139% year-on-year, highlighting demand for larger, more efficient facilities. 

Market fundamentals are strengthening as supply continues to tighten, with availability falling to 64 million sq ft and the speculative development pipeline now 63% below its 2022 peak, creating the conditions for a more balanced market.