Take-up activity in the industrial and logistics market across Yorkshire has seen a strong and encouraging start to 2025 according to latest research from property consultancy Knight Frank.
The firm’s latest Logic Report highlighted 1.3m sq ft of units over 50,000 sq ft were transacted in Q1 in South Yorkshire, already exceeding the 986,000 sq ft transacted in the full-year 2024, and marking the region’s strongest quarter since Q2 2021.
In West Yorkshire and Humber, take-up reached 912,800 sq ft in the same period, double the level seen in Q1 last year and also the strongest quarterly total recorded since 2021 for units over 50,000 sq ft.
Q1 take-up in South Yorkshire saw six transactions take place at units along the M18, the largest at V277 Water Vole Way with homeware retailer Dusk expanding into a 277,232 sq ft unit, having previously taken two units at the nearby Verdion iPort logistics hub in 2021 and 2024.
iPort also secured two new occupiers, Batt Cables and Moran Logistics, with the global cable distribution company signing a 15-year lease on the 259,286 sq ft iP10, and Moran Logistics taking the 166,872 sq ft iP7, for 10 years.
Two of the six units leased in Q1 in West Yorkshire and Humber were over 250,000 sq ft, with supply chain specialist Torque Logistics securing the 398,000 sq ft California 400 in Normanton and Sika Everbuild taking the new 280,000 sq ft SH280, Sherburn 42, Selby, which was speculatively developed by Firethorn Trust in 2023.
Rebecca Schofield, partner and head of Yorkshire Industrial and Logistics at Knight Frank in Sheffield, said: “At the back end of 2024 we started to see improved enquiry levels and positively a number of larger requirements too. This has filtered through and resulted in a strong start to 2025 which is expected to lead to further take up in coming months.
“Demand continues to be led by both B8 and B2 occupiers with South Yorkshire still maintaining its reputation as one of the best manufacturing and logistics locations.”
Iain McPhail, partner and specialist in Logistics and Distribution in the Leeds office of Knight Frank, added: “Despite a relatively quiet end to 2024, importantly over 800,000 sq ft was under offer at the turn of the year, and consequently, we have already seen a number of buildings transact in 2025.
“Notably we have also achieved a new headline rent for the region of £10.00 psf for the mid-box market, and Baytree Leeds is looking to drive rents further for the larger end market, with their two available units (of 76,000 sq ft and 145,000 sq ft) now reaching practical completion and receiving positive interest.”
