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News Release

Prague

Industrial Research Forum Announces the Final Industrial Market Figures for Q1 2018

The Industrial Research Forum is pleased to announce the final Industrial Market figures for Q1 2018.


About the Industrial Research Forum

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 International, 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.

The Industrial Research Forum is supported by the Royal Institute of Chartered Surveyors (RICS).

The Industrial Research Forum is pleased to announce the final Industrial Market figures for Q1 2018.

Total Stock

Total modern developer-led warehouse stock in the Czech Republic currently totals 7.18 million sq m. Almost 212,700 sq m was newly delivered to the market in Q1 2018.

Vacancy

At the end of Q1 2018, the vacancy rate in the Czech Republic reached 4.20%, showing an increase of 45 bps compared to Q4 2017. This represents a total of 304,300 sq m of modern industrial premises ready for immediate occupation. Vacancy in Prague decreased by 24 bps to 3.3 % at the end of Q1 2018.

Industrial Take-up

During Q1 2018, gross take-up, which includes renegotiations, reached 420,300 sq m showing an increase of 5% over the Q4 2017 figures. In comparison to the same period of previous year, gross take-up increased by 41%.

Net take-up in Q1 2018 totalled 192,500 sq m, showing a decrease of 20% on the previous quarter. Year on year, net take-up decreased by approximately 17%. Net demand in Q1 2018 was driven mainly by manufacturing companies (58%).

The share of renegotiations accounted for 54% of Q1 2018 gross take-up.

Major Leases within Take-up

The largest non-confidential new transaction in Q1 2018 was a new lease of 14,200 sq m for retail company Stavbeniny DEK in Prologis Park Prague Úžice. The largest volume of renegotiations in Q1 2018 was generated by DHL Solutions, who prolonged their leases in four buildings at Prologis Park Prague Jirny (106,000 sq m).