January 13, 2017

Czech Industrial Research Forum announces preliminary industrial market figures for Q4 2016

Czech Industrial Research Forum announces preliminary industrial market figures for Q4 2016

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.

In Q4 2016, industrial space totalling 178,600 sqm was completed within 12 industrial parks across the Czech Republic. Major completions included the first hall at Panattoni Park Cheb for Tchibo (39,000 sqm), speculative construction of building at Panattoni Pilsen Park West (30,000 sqm) and a distributional warehouse at Prologis Park – Jirny (20,500 sqm) for Mall.cz. Speculative construction accounted for 38 percent of all construction completed in the final quarter of 2016.

In 2016, new supply totalled 497,000 sqm which represents year-to-year decrease by 12 percent. The total stock of modern industrial storage space increased to 6.26 million sqm.

There was 426,600 sqm of storage and industrial space under construction at the end of Q4 2016. Almost one third of that space is located in the Greater Prague. During Q4 2016 development works started on 12 percent (i.e. 49,700 sqm) of the total space that is currently under construction across the country. 45 percent of the industrial construction pipeline is due for delivery in the Q1 2017. The share of speculative development under construction increased to 40 percent.

Prime headline rents achieved in the Czech Republic remained stable during Q4 2016 and currently stand at €4.25 sqm/month. The rents for mezzanine office space stand at between €8.00-9.00 sqm/month. Service charges typically reach around €0.50-0.65 sqm/month.

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