The Property Ticker Blackstone prices £616.4m UK logistics CMBS as market sparks back into life; Leeds office roundtable highlights strengthening demand and expanding pipeline...and more

Research evidence excerpt

The Property Ticker Blackstone prices £616.4m UK logistics CMBS as market sparks back into life; Leeds office roundtable highlights strengthening demand and expanding pipeline...and more

space in the City Core remains constrained,

driving strong rental growth (mid-£40s psf with upside to mid-£50s needed to unlock new

development). Recovery continues to favour core locations over fringe markets, while

investment appetite remains selective – focused on high-quality, sustainable assets.

Flexible workspace is evolving, and while education-led demand has softened, overall

sentiment is positive with expectations of major occupier announcements and increased

pre-letting activity in 2026. (Source: CoStar)

• Cheltenham John Lewis put on block for £22m: Cheltenham’s 180,000 sq ft John

Lewis store is being marketed for sale by its private family office owner at over £22m

(c.8% NIY), having last traded in 2023 for £18.75m. The freehold asset sits on a 2.5-acre

site with a 345-space car park and is let to John Lewis with 16.4 years of lease remaining

at ~£1.9m annual rent, following ~£23m of tenant investment in fit-out. The property,

converted from the former Beechwood Shopping Centre in 2018, was named John

Lewis’s branch of the year in 2023. (Source: CoStar)

• Oxenwood lets 333,000-square-foot Trafford Park unit to homeware retailer: UK

homeware retailer OHS has leased 333,565 sq ft at Oxenwood’s refurbished OXW327

warehouse in Trafford Park – one of the North West’s largest industrial deals this year –

marking a significant expansion of its e-commerce distribution capacity. The high-spec

facility, featuring 14m clear height and strong transport connectivity, underscores

continued demand for prime logistics space in the region, driven by structural e-