Global real estate advisor CBRE has announced that the Southampton and South Coast industrial and logistics market has delivered a strong performance in Q3.
This followed significant lettings in Q2, which included advising on Eaton’s letting of 176,000ft² space at a new Grade A manufacturing facility at Daedalus, Faraday Business Park.
Additionally, the company advised PDI Technologies on the disposal of their 40,000ft² facility in Southampton and relocation to a new 10,000ft² unit in Eastleigh.
CBRE Southampton completed 11 lettings across the region, including BEW Electrical Distributors taking 6,140ft² of space at Unit 3 of the Peacock Trading Estate in Eastleigh, making the scheme fully let.
The first letting at Sonar in Portsmouth, where Hectic Europe took Unit 7, the largest unit on the site, has 35,285ft² of space.
A further 633,000ft² was under offer at the end of the quarter, indicating continued momentum into Q4.
Availability across the South East fell by 5% to 11.2 million ft², pushing the vacancy rate down to 7.96%.
While this remains slightly above the UK average, the downward trend signals strengthening market conditions.
Throughout the quarter, the amount of available speculative space under construction increased by 1.3 million ft², while secondhand and newly completed speculative availability marginally decreased.
The East Midlands region recorded the highest share of take-up for the quarter at 35.9%.
The East Midlands has also seen the highest share of take-up on a 12-month rolling basis, at 25.4%, followed by the South West and South East
CBRE Southampton director, Nick Tutton, said: “A healthy amount of activity in Q2 and Q3 has led to the year-to-date take-up on the South Coast surpassing 2024’s total of just under 1 million ft².
With roughly 250,000ft² currently under offer, we are expecting a strong finish to the year.”
