Introduction

Prime mid-box market continues to perform well

Across the big eight markets, we have examined take-up, supply, pipeline and rents for units between 20,000 and 100,000 sq ft, focusing on units constructed since 2010 as a proxy for our prime grading.

Taking this data sample, it is pleasing to see that, despite wider issues in the global economy, take-up in 2025 reached 5.51 million sq ft, whilst a decline on 2024, demand was 11% higher than the pre-Covid average, demonstrating continued resilience in the market.

Moreover, supply, whilst having steadily risen in recent years, remains manageable at 8.42 million sq ft. There are early indications that a plateau has been reached, and we should expect further falls as the year progresses. Indeed, Q1 2026 saw supply fall by 9% and with a development pipeline of 3.15 million sq ft, supply should fall, assuming take-up remains stable.

However, as the market continues to react to the situation in the Middle East, it is worth remembering that many key indicators remain supportive of the sector. For example, the ONS reported that in March 2026, the number of businesses reporting an increase in turnover was 4% higher than those reporting a fall, while the total UK business count increased by 0.4% in 2025.

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