Perth logistics demand eases but annual take-up remains strong

Annual gross take-up was well above the 10-year average of 228,300sqm.

Occupier demand in Perth's industrial and logistics market moderated in Q1 2026, with gross take-up totalling 77,500 sqm across 13 major transactions, according to JLL.

The result was below both the previous quarter and the two-year quarterly average of 94,500 sqm. However, annual gross take-up reached 400,200 sqm, well above the 10-year average of 228,300 sqm, led by transport, postal and warehousing occupiers, followed by manufacturing and retail tenants.

JLL recorded five major completions during the quarter, adding 65,200 sqm. A further 143,100 sqm from 12 projects is under construction, with the latest project expected to complete by Q3 2027. Meanwhile, more than 309,000 sqm from 13 projects remains in approved or submitted planning stages, most of which (87.1%) is yet to be pre-committed.

Prime rents and yields remained unchanged during the quarter, with prime yields holding at 6.25%.

JLL expects vacancy to remain low as demand from logistics and manufacturing occupiers continues to outpace supply, supporting rental growth and stable yields.