Industrial Research Forum Announces the Final Industrial Market Figures for Q1 2015
About Industrial Research Forum
The Industrial Research Forum members CBRE, Colliers, Cushman & Wakefield, DTZ and JLL share non-sensitive information with the aim to provide clients with consistent, accurate and transparent data about the Czech Republic Industrial Market.
The Industrial Research Forum is pleased to announce the final industrial market figures for the first quarter of 2015.
Total developer-led industrial space in the Czech Republic totalled 5.14 million sq m in Q1 2015. Out of that more than 2 million sq m of storage space were located in the Greater Prague area.
Gross take-up (including renegotiations) amounted to 238,100 sq m in Q1 2015, this represents a decrease of 53% compared to the previous quarter, when however a record leasing transaction was concluded by Amazon (133,000 sq m). In an annual comparison gross take-up dropped by 25%.
Pre-leased space accounted for 24% of overall gross take-up, while new leases in existing space recorded a share of 27%. Expansions of existing, operating companies accounted for 29%. The share of renegotiations reached 20% of quarterly gross take-up.
The largest lease transaction was a pre-lease of a manufacturing company in VGP Park Plzeň of 21,800 sq m. Another notable lease was the renegotiation and expansion of Grupo Antolin in CTPark Ostrava (20,300 sq m).
Manufacturing companies had the highest share on net take-up with a share of 63%, followed by 3PLs (23%) and distribution companies (14%).
The vacancy rate in the Czech Republic registered a quarterly decrease of 50 bps to 7.8% reflecting 402,500 sq m of vacant modern industrial space. The Hradec Králové region (15.9%) and Pardubice region (14.3%) count among the regions with highest vacancy rates. The Greater Prague area recorded a vacancy rate of close to the country average at 8.0%.