Sandyford Properties: Q2 2026. Activity builds as confidence begins to return
The second quarter of 2026 has been another active period for Sandyford, with leasing momentum improving as the quarter progressed and further asset management initiatives moving forward across the portfolio.
While April and early May were relatively quiet, activity increased significantly in June, with 60% of the quarter’s new lettings completing in the final month. In total, we completed 11 new lettings during Q2 alongside 15 lease renewals. Retention has remained particularly strong, with the vast majority of departures linked to business failure rather than occupiers choosing to relocate elsewhere.
Asset management
Alongside day-to-day leasing activity, we have continued to progress a number of larger asset management initiatives across the portfolio. These include reversionary leases, change of use applications and other measures designed to reposition individual sites and support their long-term performance.
Several of these projects are now in legals and reflect our ongoing focus on active management: improving the quality, flexibility and resilience of our estates, while ensuring they remain aligned with occupier demand.
The wider economic backdrop has plainly remained challenging for some businesses. Uncertainty generated by events in Iran has delayed certain transactions, while pressure on SMEs has continued to result in some business failures. However, our broad and diverse occupier base has helped shield the portfolio from the worst of these conditions and leaves us well placed to benefit from the improvement in sentiment that now appears to be taking root.
Acquisitions and disposals
Portfolio reshaping remains a central part of our strategy. As we enter Q3, we are in advanced stages on a number of acquisition and sale opportunities, all consistent with our focus on acquiring high-quality, purpose-built multi-let industrial assets and divesting non-core stock that no longer fits the portfolio.
This disciplined approach continues to guide our activity. We remain focused on opportunities that strengthen the quality and resilience of the portfolio, while ensuring capital is recycled away from assets that do not accord with our long-term strategy.
Overall, Q2 has been a quarter of improving momentum. Market conditions remain uneven, but occupier retention has been strong, leasing activity has picked up, and our pipeline of asset management, acquisition and disposal opportunities gives us a positive platform heading into the second half of the year.
You can see all of the commercial property listed by Sandyford Properties on NovaLoca here.
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