New analysis by Avison Young of the industrial and logistics sector highlights a notable rebound in the take-up of grade A big-box distribution units over 100,000 sq ft in 2024, with a total of 21.2 million sq ft leased throughout the year, an 11% increase from 2023. Despite remaining 33% below the five-year average – a comparison skewed by exceptional demand during the global pandemic – improving occupier sentiment and a surge in deal-making helped push volumes above last year’s levels.

The Midlands, particularly within the ‘Golden Triangle,’ continues to dominate the market, accounting for 42% of all leasing activity in 2024. Prime locations in this area remain a key draw for both occupiers and investors, underlining its status as a hotspot for logistics and distribution activity.

At the close of 2024, grade-A supply stood at 51.6 million sq ft across 220 units, representing a 9% increase from the previous year. Of this, 41% are newly completed speculative units, while 39% are second-hand units and 20% are still under construction. However, a significant shortfall remains in the supply of larger units, particularly mega sheds of 400,000 sq ft and above, with only 10% of the current pipeline meeting this demand.

Investment in single-let big-box distribution units saw a dip in 2024, with total spending amounting to £1.04 billion, down 12% from 2023 and 62% below the five-year average. This downturn reflects broader macroeconomic challenges, though the sector’s strong fundamentals continue to attract interest, as evidenced by a substantial increase in investment activity during Q4. £423 million was invested in single-let distribution units in Q4, up by 116% compared to the previous quarter. This resurgence suggests a more favorable outlook for 2025, with further activity anticipated in the coming year.

Avison Young reports that with inflation easing and interest rates expected to decrease gradually, market conditions are expected to stabilise, fostering more activity in the capital markets. The sector’s strong potential for delivering robust returns compared to other asset classes continues to make it an attractive investment option. The analysis predicts a rental growth rate of 4.3% over the next five years for the logistics sector, outpacing office (3.4%) and retail (1.8%) sectors, driven by sustained demand in prime locations.

David Willmer, Principal and Managing Director, Industrial and Logistics at Avison Young, said: “Looking ahead to 2025, the outlook is more positive, driven by a decline in inflation and anticipated interest rate cuts, although at a more gradual pace than originally expected. This should stimulate greater activity in the capital markets, while the sector’s potential for delivering strong returns compared to its peers remains clear. Despite high stock levels and an imbalance in shed sizes, prime headline rental growth continues to be resilient, particularly in prime locations, underlining the strength of the industrial and logistics market.”

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The WITRON Group can reflect on another successful business year for 2024. Sales increased by 100 million EUR to 1.4 billion EUR. The company also hired 500 additional staff members, which means that 7,500 people are currently employed by the family enterprise. Another positive development is that 89 young people have decided to start their apprenticeship at WITRON.

Successfully ramped up projects as well as new orders for the design, implementation, and service of highly dynamic food, near-food, and non-food distribution centers for retail customers in Europe, North America, and Australia complement the business year and also allow for a positive outlook.

“Even if investment decisions are sometimes delayed due to the current geopolitical conditions, we should look positively to the future based on our successful company history”, emphasizes WITRON founder and owner Walter Winkler. “The decisive factor will be to optimally cope with the existing conditions. Consequently, this means focusing on the things that we can actively influence: Namely, to design and implement logistics facilities for our customers that are cost-efficient and to underpin our global reputation for delivering premium quality. Then, we will be rewarded with orders even in challenging times.”

New orders from well-known food retailers

The order book shows that this credo is proving true. Although, the number of orders received is slightly below the record figure achieved in the 2023 business year, it is still very satisfying. Contracts signed with well-known food retailers in WITRON’s core markets of Europe, North America, and Australia, have strengthened the reputation of the OPM / COM system as the world’s most successful fully automated storage and picking system for retail units in the food retail sector. The trust placed in WITRON by the food retail industry was based on numerous projects in the dry goods sector (43 percent) and in the perishable / frozen goods area (57 percent) for customers in Germany, Benelux, Scandinavia, North America, and Australia, which were implemented on time and within budget. These include the almost 103,000 square meter omni-channel facility for Swedish food retailer Axfood, which reached full functionality shortly before the 2024 Christmas season and will supply more than 1,500 stores and thousands of click + collect / HomeDelivery customers daily from a wide range of 22,000+ different products. These products are stored in a temperature range of plus 18 degrees Celsius to minus 26 degrees Celsius. On a peak day, the OPM, CPS, AIO, DPS, and OPS modules pick almost 1.6 million units. In addition, a fully automated shipping buffer optimizes the entire dispatch process – all controlled by an intelligent WITRON warehouse management system.

The dry goods logistics center of food retailer Coles in Redbank (Brisbane) implemented by WITRON has even won the prestigious ASCLA Award (Supply Chain and Logistics Association of Australia) in the “Automation, Robotics or Emerging Technology” category. The decisive factor for the 16 judges was the high level of efficiency in the entire supply chain, cost-effectiveness, product availability, occupational safety, and sustainability of what is currently probably the most efficient distribution center of the southern hemisphere.

Based on the success of the Redbank facility, WITRON has successfully ramped up another highly automated distribution centre for Coles in Kemps Creek (Sydney). The state-of-the-art site matches the scope and functionality of the facility in Redbank and also impressively underlines the strength of a joint trusting cooperation. And the partnership will be further intensified in the future. At the end of October 2024, Coles awarded WITRON with the design and implementation of another automated logistics center near Melbourne – with the aim of further optimizing the supply chains based on innovative WITRON logistics technology.

Service continues to grow

WITRON Group’s service business was also further expanded. This is reflected in the integration of eight new OnSite service teams in our customers’ logistics centres. A total of 67 OnSite teams with 4,400 staff members in 12 countries is currently ensuring a permanently high availability of all material flow, IT, and mechanical components.

In the future, their work will be further optimized by an innovation called ‘one device’, allowing service technicians central access to all WITRON service tools via a SmartPhone. As a result, active and proactive maintenance work can be organized even more efficiently. This innovation fits perfectly into “WITRON’s interface offensive”, where workstation dialogs are individually adapted to the requirements of the respective workers in order to ensure maximum usability / UX.

In-house platform production

The company’s product range was expanded in 2024 with the in-house platform production in modular construction. In the future, these platforms will be manufactured in-house in the production facilities of WITRON Stahlfertiger GmbH + Co. KG located in Waidhaus, Germany. Based on end-to-end processes and state-of-the-art operating equipment, all work steps – from design to statics calculation – can be carried out largely without third-party suppliers. The first ‘WITRON platforms’ have already been installed for various US customers.

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Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. reported revenue of $255.8 million for the fourth quarter ended December 31, 2024. GAAP diluted earnings per share for Q4 2024 was $0.77 compared to $0.78 in Q4 2023. Non-GAAP adjusted diluted earnings per share forQ4 2024 was $1.17 compared to $1.03 in Q4 2023.

“Manhattan ended the year strong, posting record bookings that exceeded our expectations,” said Manhattan Associates president and CEO Eddie Capel. “In 2024, we surpassed the one billion in total revenue milestone and extended our position as the leading innovator in supply chain and omnichannel retail end-markets.

We enter 2025 excited about our growing market opportunity and are executing well on our business strategy. While we remain appropriately cautious on the turbulent macro environment, our business momentum is solid, and our team is devoted to our customers’ success,” Capel concluded.

FOURTH QUARTER 2024 FINANCIAL SUMMARY:

• Consolidated total revenue was $255.8 million for Q4 2024, compared to $238.3 million for Q4 2023.
o Cloud subscription revenue was $90.3 million for Q4 2024, compared to $71.4 million for Q4 2023.
o License revenue was $5.5 million for Q4 2024, compared to $5.2 million for Q4 2023.
o Services revenue was $119.5 million for Q4 2024, compared to $119.1 million for Q4 2023.
• GAAP diluted earnings per share was $0.77 for Q4 2024, compared to $0.78 for Q4 2023.
• Adjusted diluted earnings per share, a non-GAAP measure, was $1.17 for Q4 2024, compared to $1.03 for Q4 2023.
• GAAP operating income was $60.7 million for Q4 2024, compared to $58.9 million for Q4 2023.
• Adjusted operating income, a non-GAAP measure, was $90.3 million for Q4 2024, compared to $76.8 million for Q4 2023.
• • Cash flow from operations was $104.7 million for Q4 2024, compared to $88.4 million for Q4 2023. Days Sales Outstanding was 74 days at December 31, 2024, compared to 69 days at September 30, 2024.
• Cash totalled $266.2 million at December 31, 2024, compared to $215.0 million at September 30, 2024.
• During the three months ended December 31, 2024, the Company repurchased 155,444 shares of Manhattan Associates common stock under the share repurchase programme authorised by our Board of Directors for a total investment of $43.5 million. In January 2025, our Board of Directors raised the Company’s share repurchase authority to an aggregate of $100.0 million of our common stock.

FULL YEAR 2024 FINANCIAL SUMMARY:

• Consolidated total revenue for the twelve months ended December 31, 2024, was $1,042.4 million, compared to $928.7 million for the twelve months ended December 31, 2023.
o Cloud subscription revenue was $337.2 million for the twelve months ended December 31, 2024, compared to $254.6 million for the twelve months ended December 31, 2023.
o License revenue was $15.1 million for the twelve months ended December 31, 2024, compared to $18.2 million for the twelve months ended December 31, 2023.
o Services revenue was $525.5 million for the twelve months ended December 31, 2024, compared to $487.9 million for the twelve months ended December 31, 2023.
• GAAP diluted earnings per share for the twelve months ended December 31, 2024, was $3.51, compared to $2.82 for the twelve months ended December 31, 2023.
• Adjusted diluted earnings per share, a non-GAAP measure, was $4.72 for the twelve months ended December 31, 2024, compared to $3.74 for the twelve months ended December 31, 2023.
• GAAP operating income was $261.6 million for the twelve months ended December 31, 2024, compared to $209.9 million for the twelve months ended December 31, 2023.
• Adjusted operating income, a non-GAAP measure, was $361.8 million for the twelve months ended December 31, 2024, compared to $281.5 million for the twelve months ended December 31, 2023.
• Cash flow from operations was $295.0 million for the twelve months ended December 31, 2024, compared to $246.2 million for the twelve months ended December 31, 2023.
• During the twelve months ended December 31, 2024, the Company repurchased 986,555 shares of Manhattan Associates common stock under the share repurchase programme authorised by our Board of Directors, for a total investment of $241.6 million. In January 2025, our Board of Directors raised the Company’s share repurchase authority to an aggregate of $100.0 million of our common stock.

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In a recent announcement, UK Chancellor of the Exchequer Rachel Reeves highlighted the importance of the East Midlands Freeport development, emphasizing its role in driving economic growth and job creation. She stated: “Economic growth is the number one mission of our Plan for Change. This investment will create thousands of new jobs, strengthen the UK’s position in advanced manufacturing and logistics, and boost the economy.”

East Midlands Airport (EMA) is advancing its Freeport plans with a new industrial logistics and manufacturing park, unlocking $1.3bn (£1bn) of investment. Located south of EMA, the site will offer tax and customs reliefs, attracting investment and fostering growth in life sciences and advanced manufacturing. EMA is seen to be the UK’s most important airport for express air cargo which enables seamless trade between UK businesses and the rest of the world, helping to support the regional and national economy.

A planning application has been submitted, with potential for 2,000 new jobs, £132m annual economic growth, and £9m in business rates. EMA’s strategic location and strong transport links make it the UK’s top express freight airport. Air cargo volumes are projected to grow by 54% by 2043.

EMA’s cargo operations have already attracted businesses in aeronautical, automotive, retail, pharmaceutical, and logistics sectors. This new development will further cement its role in global trade and innovation.

Sustainability is central, with adherence to the UK Green Building Council’s net-zero carbon framework. During construction, carbon emissions will be measured and reduced, and operational buildings will meet EPC A+ energy efficiency standards.

Steve Griffiths, Managing Director of EMA, emphasized the significance of this step, stating: “This is an exciting step forward for growth in and around the airport. Our unrivaled cargo operation continues to act as a catalyst for investment, and we look forward to building on its success.”

Tom Newman-Taylor, CEO of East Midlands Freeport, echoed this sentiment, highlighting the transformative impact of the Freeport’s tax sites: “This is a positive first step in realizing the full potential of the Freeport, creating thousands of jobs and unlocking billions in investment.”

Paul Weston, Regional Head, Prologis UK said: “Our partnership with MAG aims to realise the full potential of this strategic hub for international logistics.

“Our shared vision is to leverage the Freeport status and central location of EMA to create a high-impact gateway that drives economic growth, innovation and employment opportunities across the Midlands. By bringing our expertise in logistics developments to the table, we are confident that our partnership will unlock significant benefits for both the local community and the broader UK economy.”

This development underscores EMA’s critical role in driving economic growth and innovation, positioning it as a key hub for logistics and advanced manufacturing in the UK.

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The Association of Fleet Operators (AFP) is calling for an official deferral for MOTs on 4.25 tonne electric vans as some fleets report finding tests “impossible” to book.

For MOT test purposes, this special category of vans is treated as a heavy goods vehicle (HGV), meaning that it has to be tested at one year old rather than three, and also faces a more rigorous examination.

Aaron Powell, fleet and logistics director at Speedy Hire is one AFP member being affected and reports that his company will have to potentially take a number of vehicles off the road.

“These 4.25 tonne vans require a Class 7 HGV MOT test and, between generally poor capacity for HGV testing and few test centres being able to handle electric vehicles, we’re finding it impossble on a practical level to book tests. Our lease provider has spent the last three months trying to find garages with the ability to carry out the pre-testing and source available slots for the test with limited success.

“This is going to have a serious impact on our business because we’re going to have to take these vans off the road and no doubt many other fleets are finding themselves in the same situation.”

Lorna McAtear, vice chair at the AFP, said: “As an organisation and at an individual member level, we’re very much focussed on safety and of course recognise the role that the MOT test plays in ensuring that vehicles operated by fleets are in a roadworthy condition.

“However, it’s questionable whether 4.25 tonne electric vans require HGV tests, an argument we have been making to government for some time. The whole point of this category of van when it was introduced in 2019 was to provide easy access for fleets to an electric equivalent of a 3.5 tonne panel van. These vehicles are simply 3.5 tonne vans with bigger batteries.

“The difficulties members are encountering around their inability to book MOT testing only emphasises this confusion. While the situation is being resolved, we would like to see government and the official bodies involved introduce some form of dispensation, similar to that created during the pandemic, allowing fleets to defer tests for a period of perhaps six or 12 months on 4.25 tonners for the first and second year of testing, giving them time to find and book testing facilities. It is disappointing that businesses working in good faith to electrify their light commercial vehicle operations are being affected in this manner.”

She added that despite a willingness on the part of government to try and overcome issues surrounding 4.25 tonne vans, problems remained.

“As a result of discussions between the Office for Zero Emissions, Driver Vehicle Standards Authority and Department for Transport, the operation of these vans on a practical level is often difficult for fleets due to confusion over whether they have been deregulated from all of the operator responsibilities that normally apply to vans over 3.5 tonnes.

“The government is aware of this and is trying to resolve the situation through the current consultation because there remains widespread belief that the 4.25 tonne concept remains worth pursuing as a means of speeding up van electrification. However, this process is taking time.”

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Bodrum, on Turkey’s stunning Aegean coast, is one of the most exclusive destinations for those seeking luxury and relaxation in one of Europe’s most renowned locations. Thanks to high-end resorts and a vibrant cultural scene, Bodrum is a popular destination for discerning travelers, easily accessible by private jet from major European and international cities. With Milas-Bodrum Airport (BJV) equipped with top-notch services, travel becomes part of the luxury experience.

Destination Bodrum, Between Luxury and Exclusive Experiences

Bodrum is not only a dream destination for those who love the sea, it is also a place that offers unique and refined experiences perfect for those seeking the ultimate in luxury. Here are some of the most exclusive venues, events and activities awaiting you in Bodrum:

• Private yachts and luxury cruises: One of the most exclusive experiences you can have in Bodrum is a cruise aboard a private yacht. Explore the crystal clear waters and hidden bays of the peninsula, stopping at small islands and enjoying total privacy. Luxury yacht charters are easily booked and offer personalized services, including on-board chefs and dedicated attendants.
• Gourmet dinners at sunset: Bodrum is famous for its upscale dining scene. Exclusive restaurants along the coast offer fine dining, prepared with fresh, local ingredients, accompanied by spectacular sea views. For a unique experience, book a dinner at Mistral Restaurant or La Finca, two of the most exclusive foodie destinations.
• Parties and Glamour: Bodrum’s nightlife is legendary, with exclusive clubs and trendy venues. For a truly VIP experience, book a private night out at one of the city’s most exclusive clubs, such as Halicarnas or X Club, where you can enjoy live music and dance until dawn in a refined and private setting.
• Luxury hotels and resorts: Bodrum is home to some of the most exclusive hotels and resorts in the Mediterranean, ideal for those seeking the ultimate in comfort. The Mandarin Oriental Bodrum and Kempinski Hotel Barbaros Bay offer unparalleled luxury, with private rooms and villas, infinity pools, and world-class spas. These resorts are perfect for those seeking privacy, tranquility and impeccable service.
• High-class spa and wellness: If you’re looking for the ultimate in relaxation, luxury spas in Bodrum offer exclusive treatments. Six Senses Kaplankaya is one of the most renowned spas, where you can enjoy personalized treatments, relaxing massages, and rejuvenating services in an environment surrounded by nature.
• Luxury shopping: In Bodrum, shopping is not just about buying, but an exclusive experience. Haute couture boutiques and designer jewelry stores are scattered throughout the city center, as well as in the resorts and marinas. The Bodrum Marina Yacht Club is a one-stop shop for luxury items and designer clothes, while the Bodrum Bazaar also offers high-quality handicrafts.
• Exclusive events: Bodrum hosts a number of high-level events throughout the year. Among the most prominent is the Bodrum Cup, a yacht regatta that attracts the sailing world’s elite and luxury enthusiasts. In addition, the Bodrum International Ballet Festival is a must-attend event for lovers of dance and performing arts, while the Bodrum Jazz Festival offers exclusive concerts featuring world-renowned artists.
• Private tours and customized tours: If you want an even more exclusive experience, you can book a private tour of the city and its historic attractions. Visit St. Peter’s Castle, an iconic site that also houses the Museum of Underwater Archaeology, or discover the ancient ruins of the Mausoleum of Halicarnassus, one of the Seven Wonders of the Ancient World.
• Helicopter rides and scenic flights: For a truly unique view of Bodrum and its surroundings, book a scenic helicopter flight. Fly over the Aegean coast, admire the surrounding islands and enjoy the scenery from an exclusive perspective, an experience that will make your trip even more unforgettable.

Top European destinations for private jets to Bodrum

• London: The British capital is one of the main departure points for private flights to Bodrum. Jets take off from Biggin Hill, Farnborough or Luton airports, known for their high-quality FBOs. This route is popular with British travelers looking for a summer escape to the sunny shores of Turkey with a straightforward and uncomplicated journey. Also read our article on the best London airports for private jet flights.
• Paris: From Le Bourget Airport, French travelers can reach Bodrum in just a few hours. The route is ideal for those who want to combine a luxury vacation with exploring Aegean culture, moving from exclusive resorts to traditional Turkish taverns.
• Milan: Italians particularly appreciate Bodrum for its mix of nature, luxury and nightlife. Private flights from Milan Linate provide quick and convenient access to the destination, making it perfect for a luxury vacation or romantic getaway.
• Zurich: Known for its high-profile clientele, Zurich is a preferred departure point for travelers to Bodrum. Private flights from Switzerland offer not only comfort, but also the opportunity to request personalized services for an unparalleled travel experience.
• Berlin: Germans, always great lovers of the Turkish coast, choose Bodrum for its combination of elegance and authenticity. Private flights from Berlin are especially popular during the summer, with luxury services starting as early as the airport.
• Vienna: The Austrian capital is another important departure point for Bodrum. The route is popular with travelers looking for an exclusive yet easily accessible destination, perfect for a long weekend or summer vacation.

From the Middle East to Bodrum by private jet

• Dubai: For travelers from the United Arab Emirates, Bodrum is a prime destination due to its combination of luxury, nature and culture. Private flights from Dubai offer an exclusive experience, with VIP lounges, personalized catering and optimized flight times.
• Riyadh and Jeddah: Saudi cities are connected to Bodrum by a growing number of private flights, chosen by travelers who want an exclusive vacation away from the desert heat. Bodrum’s luxury resorts and marinas provide the perfect retreat.
• Doha: From Qatar, Bodrum is one of the most popular destinations due to its proximity and the charm of its beaches and resorts. Private flights from Doha offer comfort and privacy, ideal for families and groups.

Internal connections in Turkey

• Istanbul: With two major airports, Atatürk and Sabiha Gökçen, Istanbul is the most common departure point for private flights to Bodrum. The route is especially popular with travelers who want a quick transfer from the bustling metropolis to the quiet beaches of the Aegean coast.
• Antalya: Although close, many tourists choose a private flight to avoid road traffic and maximize the time available for relaxation. Antalya and Bodrum share a similar clientele, drawn to exclusive resorts and natural beauty.

Why Choose Bodrum for a Luxury Private Jet Flight?

Reaching Bodrum by private jet offers a number of advantages:

1. Direct access: Avoid long waits, layovers and complications typical of commercial flights.
2. Luxury services: Milas-Bodrum Airport is equipped with state-of-the-art FBOs with VIP lounges, personalized assistance, and exclusive transfers to top resorts or marinas.
3. Privacy and comfort: Ideal for families, groups of friends or VIPs seeking a tailor-made travel experience.
4. Close to major attractions: Once you land, you are within easy reach of marinas, luxury villas, and the region’s most beautiful beaches.

Book with PrivateJetFinder your Private Jet to Arrive in Bodrum

Bodrum is a destination that combines the allure of the Mediterranean with the elegance of an exclusive vacation. Reaching it by private jet means turning the trip into an experience of luxury and comfort. With connections from numerous European and Middle Eastern cities.

It is confirmed as the ideal destination for those seeking an uncompromising luxury experience with breathtaking views, dreamy beaches and fascinating culture. If you wish to experience an exclusive getaway, Bodrum is waiting with open arms.

Thanks to PrivateJetFinder, your trip to Bodrum becomes a luxury experience from departure to arrival. Book your private flight and enjoy every moment, from the comfort of a tailor-made jet to your arrival at one of the Mediterranean’s most exclusive destinations. Book now and experience the trip you’ve always dreamed of.