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Oct 26, 2015
Industrial Research Forum Announces Preliminary Industrial Market Figures for Q3 2015

Industrial Research Forum – 3Q 2015

New Supply in Q3 2015

In Q3 2015, industrial space totalling 268,600 sq m was completed within ten industrial parks across the Czech Republic. It is the largest volume of quarterly supply delivered to the market since 2009. Almost half of the new supply comes from one project, the Amazon centre in Dobrovíz near Prague which provides 133,000 sq m of gross lettable area including mezzanine and office space. Another major completion includes 62,000 sq m of new industrial space built for Primark in CTPark Bor. 

In the first three quarters of 2015, new supply totalled 408,000 sq m. It is already above the 2014 full year numbers (388,000 sq m).  The total stock of modern industrial and storage space in the country surpassed the 5.5 million mark, increasing to 5.54 million sq m.

Projects under construction

There were 376,800 sq m of storage and industrial space under construction at the end of Q3 2015. Approximately one third of that space commenced construction between July and September 2015. The share of speculative development increased to 33%. During the last quarter of 2015, another 190,000 sq m of industrial space is scheduled to be delivered to the market.

Rent

Prime headline rents achieved in the Czech Republic remained stable during Q3 2015 and currently stand at 4.25 EUR/sq m/month. The rents for mezzanine office space stand at between 8.00-9.00 EUR/sq m/month. Service charges typically reach around 0.50-0.65 EUR/sq m/month.

Further market data including take-up and vacancy will be published by the Industrial Research Forum in two weeks’ time.