the volume of industrial space leased in Australia lifting to a five-year high in the second quarter of the year.
According to a JLL report, and as published by The Urban Developer:
~871,000 sqm of industrial floorspace was leased nationally between April and June
Sydney accounted for 55%of the space leased, followed by Melbourne with 34%.
According to JLL head of industrial and logistics Jamie Guerra:
“Given the strong take-up levels across Australia’s eastern seaboard cities, the second quarter vacancy rate for the east coast is relatively low—averaging 5.3 per cent, National average prime rents also remained relatively unchanged over the quarter.”
Importantly, 50% of transactions coming from within the eCommerce and food sectors with the consumer staples sector driving the stability of the industrial and logistics sector during Covid-19 and beyond.
“Historically, supermarkets have been a low eCommerce penetration sector. However, we are likely to see the growth in online grocery shopping increasingly contribute to the acceleration of Australia’s eCommerce growth trajectory.”
Read the article in its entirety here.
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