^{▲ Howdens units Warth Park}

■ A surge in investment volumes in the fourth quarter of 2016 saw £871m transacted across 43 separate transactions. This ensured that total investment volumes for the year reached £2.6bn made up of over 200 separate transactions, a small decrease of 9.4% year-on-year.

■ For the fourth consecutive year, over £2.5bn has been transacted meaning that the long term average investment volume has increased from £1.2bn to £1.7bn, with 2016 being 53% above the new long term average.

■ Once more, Tritax were the most active investors deploying £326m in the last quarter alone, accounting for 37% of the market.

■ Driven by structural change in the sector and continued demand from online retailers the sector proved to be extremely liquid, and buoyant, in the aftermath of Brexit.

■ The Savills Prime Yield has moved out 50bps in the last twelve months, now standing at 5%, however activity in the fourth quarter has placed a downward pressure on this once again. The spread between prime and secondary has narrowed to 137bps, as demonstrated in figure 25.

■ Increasingly, logistics is seen as a global asset class, which is demonstrated by the fact that overseas investors have accounted for a fifth of transactional volumes in 2016.

^{Source: Savills Research, Property Data}

^{Source: Savills Research, MSCI}