10 industrial parks expand in the Czech Republic

In Q1 2017, industrial space totalling 162,400 sqm was completed within 10 industrial parks across the Czech Republic. Major completions include an additional hall at CTPark Bor totalling 40,700 sqm which was delivered partly on a pre-let basis (Weltbild), an extension of P3 Prague D11 of almost 39,000 sqm, partly pre-let to multiple tenants, and the first building of a brand new scheme CTPark Planá nad Lužnicí for Yanfeng Automotive Interiors (24,400 sqm). Speculative construction accounted only for 15% of all developments completed in the first quarter of 2017. Total stock of modern industrial and logistics space increased to 6.47 million sqm.

 

There was 396,500 sqm of storage and industrial space under construction at the end of Q1 2017. One third of that space is located in the Greater Prague area. Approximately 39% of the industrial construction pipeline is due for delivery in Q2 2017. The share of speculative development under construction decreased to 17% (down from 29% at the end of 2016). 

 

Prime headline rents achieved in the Czech Republic remained stable during Q1 2017 and currently stand at €4.25/sqm/month. The rents for mezzanine office space stand at between €8.00-9.00/sqm/month. Service charges typically reach around €0.50-0.65/sqm/month.