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 Q4 2016

Total Stock
Total modern developer-led warehouse stock in the Czech Republic currently totals 6.26 million sq m. Over 180,000 sq m was newly delivered to the market in Q4 2016.

At the end of Q4 2016, the vacancy rate in the Czech Republic reached 4.75%, having increased by 34 bps since Q3 2016. This represents a total of 297,300 sq m of modern industrial premises ready for immediate occupation. Vacancy in Prague decreased marginally reaching 3.5% at the end of Q4 2016.

Industrial Take-up
During Q4 2016, gross take-up, which includes renegotiations, reached 510,800 sq m showing an increase of 73% on the Q3 2016 figures. In comparison to the same period of last year, gross take-up increased by 15%. The whole year gross take-up amounted to 1,455,600 sq m in 2016 and slightly surpassed 2015’s record level (1,443,900 sq m). 

Net take-up in Q4 2016 totalled 306,600 sq m, which is almost three times more compared to the previous quarter. Year on year it increased by 52%. Net demand in Q4 2016 was driven by distribution, retail and e-commerce companies (44%). For the entire year, net take-up reached 880,300 sq m, representing a 5% decrease compared to 2015 (928,900 sq m). 

The share of renegotiations went up to 40% of annual gross take-up.

Major Leases within Take-up
The largest new transaction in Q4 2016 was a pre-lease of 53,000 sq m for an undisclosed retailer in CTPark Prague North. The largest renegotiation of Q4 was concluded by Hopi, prolonging their 46,300 sq m lease in P3 Prague D1.