The repricing process that has been the market’s response to the shifting economic backdrop has led to something of a too-late-to-sell-too-early-to-buy phenomenon and a hesitation in transactions, both in the logistics sector and the broader real estate market, pointed out Christopher Turley, a partner in international law firm TaylorWessing.
“I think in the early part of 2023, we hope to see that settling and certainly we think there’ll be opportunity,” Turley added.
“There’s an enormous number of influencing factors. There’s the cost of debt, there’s inflation, there’s construction costs spiralling, there’s the availability of good product.”
But he said that when this is added together with the refinancing events which are inevitable it will create more activity in the early to mid part of 2023.
“There certainly seems to be a good level of demand for good quality stock and that’s still underpinned in the logistics sector by really strong occupier demand,” Turley said.
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