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Industrial Research Forum Announces the Final Industrial Market Figures for Q3 2016

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 Q3 2016. 

Vacancy 

At the end of Q3 2016, the vacancy rate in the Czech Republic reached 4.4%, having decreased by 33 bps since Q2 2016. This represents the total of 268,200 sq m of modern industrial premises ready for immediate occupation. Vacancy in Prague increased slightly reaching 3.6% at the end of Q3 2016. 

Industrial Take-up 

During Q3 2016, gross take-up, which includes renegotiations, reached 291,700 sq m showing a decrease of 17% on the Q2 2016 figures. In comparison to the same period of last year, gross take-up declined by 15%. 

Net take-up in Q3 2016 totalled 100,500 sq m, which is 62% below the previous quarter. Year on year it decreased by 55%. Net demand in Q3 2016 was driven by distribution, retail and e-commerce companies (54%). 

The share of renegotiations went up to 66% of quarterly gross take-up. 

Major Leases within Take-up 

The largest new transaction in Q3 2016 was concluded by Weltbild GmbH & Co. KG, who signed a pre-lease for 26,100 sq m at CTPark Bor. The second largest new transaction was a pre-lease of 21,700 sqm signed by Ahold for premises at Greenhouse Hradec Králové. The largest renegotiation of Q3 was concluded by MD Logistika, prolonging their 39,700 sq m lease in P3 Prague Horní Počernice.