The take up of large industrial space in Wales declined sharply in 2022 after two years of expansion.
Latest research from property advisory firm Knight Frank shows that a slowdown in the final quarter of the year saw the take up of industrial property over 50,000 sq ft reached just under two million sq ft, down significantly from the 3.49 million sq ft in 2021 and 2.74 million sq ft in 2020.
Neil Francis, head of logistics and industrial at Knight Frank in Cardiff, said: “After a strong third quarter where 1.3 million sq ft was transacted, the final quarter witnessed a slowdown in take up for large units, with just one deal of 103,000 sq ft - a letting on Tafarnaubach Industrial Estate, Tredegar to Energizer Auto UK - completed across all of Wales.
