JLL suggests industrial letting upturn

The industrial property market has taken a turn for the better according to Jones Lang Lasalle’s latest report.

The Western Corridor industrial market has seen an increase in take-up in the first half of this year.1.2 million square ft was let in West London, including Heathrow, in the first half of 2009, over 40% more than in the first half of last year, and outperforming the Thames Valley considerably Рthere was a fall of nearly 50% in take up there.

Jody Smith of JLL told Property Week: “Heathrow, which has been uncharacteristically quiet since the end of 2007, has been the most active leasing market in the first half of 2009.”

There has been an increase in supply of space too – vacancy rates have climber 8.3% in West London as space is returned to the market by tenants.

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