Corporates across Europe, the Middle East and Africa sold €25.6bn (£22bn) of real estate last year via more than 700 deals, according to JLL, a drop of 14% on the 2021 figure.
The deals nonetheless marked the fifth consecutive year in which such sales surpassed €25bn and the 2022 total was 9% ahead of the 10-year average.
The UK, Germany and France were the most active markets, with office and industrial properties accounting for 60%.
In the UK sizeable deals included Morrisons carrying out a portfolio sale and leaseback for £220m.
JLL head of EMEA corporate capital markets Nick Compton said: “Businesses faced a confluence of headwinds in 2022 that challenged growth, increased costs, and disrupted supply chains.
“For corporate owner-occupiers, unlocking capital tied up in real estate continued to be an attractive and viable route to build liquidity in a higher cost environment, complementing more traditional corporate funding options, providing costs remain comparable.”
He added: “The pace of change is fast, triggering some serious rethinking and we expect that corporate ownership of real estate will continue to decline with businesses looking to drive capital out of property that is obsolete or surplus even as the market becomes more challenging.”
To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews
