Manchester’s logistics market is outperforming the rest of Europe in rental growth, according to figures released by Cushman & Wakefield.
In its pan-European DNA Of Real Estate Q2 report, Cushman & Wakefield identified Manchester as Europe’s top-performing logistics market, with rental growth up 6.4% compared to the second quarter of 2023.
Rental growth in the logistics sector in the UK stands at 9.1% compared to a broader European total of 5.6%, according to the report.
Second quarter rental growth in offices for UK and Ireland is up by 8% compared to an overall European figure of 5.5%, while growth in high streets is up 1.8% against 2.8% across Europe.
In an encouraging snapshot of the European investment market, the report reveals Q2 2024 was the sixth consecutive quarter in which rents have risen across all three sectors on a quarterly basis.
Cushman & Wakefield head of data analytics Nigel Almond said: “At these current levels of value growth, the scales remain finely balanced and there will be variation at the city and asset level across all property types.
“However, for best-in-class and well-located assets, momentum is shifting to the positive. For those assets which sit slightly off-pitch, or harbour some imperfections, recovery will take longer.”
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