The Industrial Research Forum is pleased to announce the final Industrial Market figures for Q1 2017.

Total Stock

Total modern developer-led warehouse stock in the Czech Republic currently totals 6.47 million sq m. Approximately 161,200 sq m was newly delivered to the market in Q1 2017.

Vacancy

At the end of Q1 2017, the vacancy rate in the Czech Republic reached 4.7%, having decreased marginally by 4 bps since Q4 2016. This represents a total of 304,100 sq m of modern industrial premises ready for immediate occupation. Vacancy in Prague is in line with the country average at 4.7%, which represents an increase of 121 bps q-o-q.

Industrial Take-up

During Q1 2017, gross take-up, which includes renegotiations, reached 305,300 sq m showing a decrease of 40%
on the Q4 2016 figures. In comparison to the same period of last year, gross take-up decreased by 3%.

Net take-up in Q1 2017 totalled 238,800 sq m, representing a decrease of 22% compared to the previous quarter. Year on year it increased by 13%. Net demand in Q1 2017 was driven by manufacturing companies that were behind 59% of all new deals.

The share of renegotiations represents 22% of the Q1 2017 gross take-up.

Major Leases within Take-up

The largest new transaction in Q1 2017 was a new lease of 30,500 sq m for Sony DADC in Panattoni Pilsen Park West. The largest renegotiation of Q1 2017 was concluded by Flextronics, prolonging their 15,000 sq m lease in Starzone Pardubice.

 

Source: Industrial Research Forum

Prague 2. May 2017