The industrial property sector has been largely unaffected by the Brexit vote with 7m sq ft of logistics space being taken up in the third quarter – in line with the five-year average – and robust occupier and investor demand across most regions, according to Cushman & Wakefield.

E-commerce is a significant driver of this activity with strong demand for logistics space in urban fringes as occupiers seek last mile fulfilment. Retailers, supermarkets and third-party logistics providers are all very active in this market and particularly keen on modern, big box space. But demand is also robust for mid-size and cross-dock facilities in both prime and second-tier locations as occupiers seek to optimise their distribution networks across the UK, the firm says.

Development has increased to meet this demand with Grade A available space up 17% in 2016 to date following several years of declining supply. This is in part due to more speculative development, particularly in the South East, Midlands and North West, where demand is strongest.

Amazon has signed one of the largest deals of the year so far by taking 358,000 sq ft at Dunstable 360 whilst Coca Cola took 233,000 sq ft at Logic 233, Dagenham.