LONDON – Industrial property has emerged as one of the strongest performing asset classes this year, apparently brushing off the threat of Brexit as consumers shop – or rather, click – until they drop. The rise of e-commerce means tenant demand is robust, with record rents being achieved in tightly-constrained urban areas where logistics space is competing with residential. However, occupiers are having to invest heavily in technology. In a continuing series of think tanks, Yardi brought together a panel of experts to discuss these issues in the European real estate market. Panelists: Claer Barrett, Financial Times – Chair Alan Holland, Business Unit Director, Greater London – Segro Richard Croft, Chief Executive – M7 Real Estate Mark Bowden, Partner – Caisson Investment Management Michael Williams, Investment Manager – M&G Real Estate Kevin Mofid, Research Director – Savills CB: The good news is that we’re seeing healthy yields and rental growth on industrial space, particularly in the Greater London area – but is this mainly because so much of it has vanished in the past decade? AH: The pressure on land for industrial and urban logistics is immense, particularly in areas of population concentration where developers like Segro are competing with house builders. According to the GLA, around 700 ha of industrial land has been lost in Greater London as places like Nine Elms, Old Oak Common and the Olympic Park ha ve become residential areas. That’s the equivalent of seven times the size of Regent’s Park – it’s gone and it won’t be replaced. KM: Since 2009, Savills research shows the supply of existing warehousing stock has decreased by 70 per cent. But at the same time, take-up has risen from a long-running average of 18m sq ft per year to 22m sq ft in the...