The Industrial Research forum is pleased to announce the preliminary Industrial Market figures for the Czech Republic in Q1 2018.
New Supply in Q1 2018
In Q1 2018, industrial space totalling 181,900 sqm was completed within 13 industrial parks across the Czech Republic. Major completions include a distribution warehouse for Makro at CTPark Prague North totalling 53,000 sqm, an extension of an existing building (31,900 sqm) in Panattoni Park Cheb delivered for DHL and a building of 22,200 sqm built for production company Petainer in CTPark Aš. Speculative construction accounted only for 2 percent of all new developments completed in the first quarter of 2018.
The total stock of modern industrial storage space increased to 7.18 million sqm.
Projects under construction
There was 505,100 sqm of storage and industrial space under construction at the end of Q1 2018. Approximately 39 percent of that space is located in the Greater Prague. During Q1 2018 development works started on 31 percent (i.e. 155,700 sqm) of the total space that is currently under construction across the country. Approximately 63 percent of the industrial construction pipeline is due for delivery in the Q2 2018. The share of speculative floor space under construction has currently increased to 45 percent.
Prime headline rents achieved in the Czech Republic remained stable during Q1 2018 and currently stand at €4.50/sqm/month. The rents for mezzanine office space stand at between €8.50-€9.00/sqm/month. Service charges typically reach around €0.50-€0.65/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.