Real Estate: Expert Take – UK Urban Logistics vs Big Box with Newmark

Research evidence excerpt

Real Estate: Expert Take – UK Urban Logistics vs Big Box with Newmark

18 June 2026

Property/Real Estate

Real Estate: Expert Take – UK Urban Logistics vs Big Box with

Newmark

Yesterday we hosted an expert webinar with Will Laing, Partner at Newmark (not covered) Marios Pastou

+44 20 7676 6881 to unbox key trends dominating the UK’s urban multi-let landscape. Overall, a positive stance

marios.pastou@bernsteinsg.com on the operational performance to come across the segment vs its big box warehousing

counterpart, supported by constrained supply, positive demand trends across a host of

Valerie Jacob sources and a range of future drivers cementing the requirement for urban assets. We have

+44 20 7762 4885

valerie.jacob@bernsteinsg.com summarised our key takeaways below. This follows our prior expert review on big box

logistics with Savills. Don’t miss the replay. Slides are available on request.

Nikita Talwar

+44 20 7676 8785 Supportive take-up dynamics across urban multi-lets. Occupier take-up across UK

nikita.talwar@bernsteinsg.com urban multi-lets through 1H is expected to reach c.22 m sq.ft, with Newmark forecasting

44-48m sq.ft over FY26. This reflects an improvement on 2025 (c.30m sq.ft) and ahead

Specialist Sales of long-term averages. While there has been a notable slowdown in pace of take-up due

Sara Bellenda to heightened geopolitical uncertainty, this has quickly returned more recently. Newmark

+44 20 7762 1867 considers we are now past peak vacancy but also doesn’t anticipate vacancy falling to the

sara.bellenda@bernsteinsg.com

record lows seen through the pandemic. Vacancy levels are set to remain at c.6%, supportive

of rental growth to come (in growth territory where vacancy remains below c.11%).

Tight new supply.