European industrial and logistics have found favour with investors in Q1, with transactions increasing by 111% compared with the same quarter last year to €3bn (£2.5bn) according to research from Jones Lang LaSalle.

Transaction levels last quarter were the second-highest since 2008 - although this was bolstered by a 195-strong portfolio transaction in the form of Prologis's and Norges's €2.4bn joint venture.

The UK was the most liquid market, with €790m transacted during the quarter. While this was an increase on the same quarter last year, transaction volume was 10% lower than Q4 2012, thanks to a lack of core product.