■ Regionally, the South West had its best quarter ever with 2.1m sq ft transacted, more than 2014 and 2015 combined. The South East however had a highly anomalous quarter with just one transaction recorded against a long term average 1.2m sq ft for a typical Q1.

■ Total supply stands at 33.1m sq ft across the country of which 9.8m sq ft is classified as grade A, down a further 5% from the same time last year.

■ We expect supply to rise in the coming quarters as 7.1m sq ft of stock is due to be delivered to the market speculatively in 2016, two thirds of which is located in The North West and The West Midlands.

■ The investment market saw deal counts remain constant and investment volumes increase from the same period in 2015, reaching £683m for the first quarter. Overall, the industrial sector has been the only market to see investment volumes increase in 2016 which bodes well given the investor caution surrounding the upcoming EU referendum.