"Climate risk, geopolitical uncertainty and the rise of AI reshaped markets in a year where adaptability defined outperformance."

"The logistics market has passed its toughest phase, but weak economic growth limits upsizing. Rental growth should stay modest at 2.7% in 2026, with supply moderation and structural trends paving the way for more landlord-friendly conditions later in the decade."

"Highest level of take-up for three years, but a further rise in supply."

"High-quality Grade A space accounts for 73% of available supply."

"2025 take-up is 47% higher than the pre-pandemic, long-term average (2007–2019)."

"Supply has risen by 10% to 7.73 million sq ft, but options in quality and size remain limited."

"In 2025, 34% of take-up involved newly built speculative units. Although not a majority, this would be higher if there were more supply of such quality."

"Transactional activity is up 49% on 2024."

"Supply has fallen by 45%, with the vacancy rate falling to 5.07%."

"Build-to-suit activity returns to the market in 2025."