October 17, 2016

Industrial Research Forum announces Preliminary Industrial Market Figures for Q3 2016

Industrial Research Forum announces Preliminary Industrial Market Figures for Q3 2016

In Q3 2016, industrial space totalling 60,200 sqm was completed within 4 industrial parks across the Czech Republic. Major completions included the first two halls at Panattoni Park Prague Airport II, of which one was completed for DSV (23,300 sqm), and the second warehouse (10,400 sqm) was built speculatively. Another notable completion took place in VGP Park Tuchoměřice (13,200 sqm) where construction of a partially pre-let warehouse was finished. The share of speculative completions in Q3 2016 remained at 36 percent which is the same proportion as in the previous quarter.

There was 474,800 sqm of storage and industrial space under construction at the end of Q3 2016, most of it in the Greater Prague area (107,800 sqm). During Q3 2016 development works started on 48 percent (i.e. 229,800 sqm) of the total space that is currently under construction across the country. 42 percent of the industrial construction pipeline is due for delivery by the end of 2016. The share of speculative development under construction decreased to 31 percent.

Prime headline rents achieved in the Czech Republic remained stable during Q3 2016 and currently stand at €4.25 per/sqm/month. The rents for mezzanine office space stand at between €8.00-9.00 per/sqm/month. Service charges typically reach around €0.50-0.65 per/sqm/month.

The Industrial Research Forum was established in 2010 with its aim to provide clients with consistent, accurate and transparent data about the Czech Republic industrial real estate market. The members of the Industrial Research Forum, CBRE, Colliers, Cushman & Wakefield and JLL, share non-sensitive information and believe the establishment of the Industrial Research Forum will enhance transparency on the Czech industrial market.

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