The total stock of modern industrial space for lease in the Czech Republic has reached 12.68 million sqm. 131,600 sqm of new warehouse space was delivered to the market across seven industrial parks, announces Industrial Research Forum in its Market Figures for Q2 2025.
At the end of Q2 2025, 1,178,800 sqm of warehouse and manufacturing space was under construction. This represents an increase of 17% quarter-on-quarter and 19% year-on-year. As in the previous quarter, approximately 28% of the total space under construction was located in Prague and the Central Bohemian Region, followed by the Karlovy Vary Region with a 24% share.
The largest completed industrial hall in Q2 2025 was located in Logistic Centre Jihlava II (43,600 sqm), and was fully leased to Bosch Powertrain upon completion. The second largest project was a hall in Panattoni Park Chomutov North (41,100 sqm), occupied by manufacturing company Thermoflex and logistics provider HOPI. The third largest completed project was in VGP Park Ústí nad Labem City (18,800 sqm), fully leased to logistics company Mailstep.
The share of speculative construction increased quarter-on-quarter to 38%. In Q2 2025, construction started on approximately 269,600 sqm of modern industrial space, 58% of which was on a speculative basis. In addition, there are around 556,800 sqm of space currently in the shell & core stage, awaiting completion once a tenant is secured.
Gross take-up (including renegotiations) reached 304,900 sqm in Q2 2025. This represents a 41% decline compared to the previous quarter and a 35% year-on-year decrease. The share of renegotiations within total gross take-up dropped to 44% compared to the previous quarter (62 %). Net take-up in Q2 2025 amounted to 169,600 sq m, reflecting a 13% quarter-on-quarter decline and a 47% drop year-on-year.
The largest new lease transaction of the quarter was signed in Park P3 Lovosice Cargo, where logistics provider Yusen Logistics leased 43,500 sqm. The second largest new lease was signed in CTPark Prague North by an undisclosed distribution company, covering 31,000 sqm. The third largest transaction was a renegotiation in CTPark Modřice, where manufacturing company IFE-CR renewed its lease for a total of 25,900 sqm.
At the end of Q2 of 2025, the vacancy rate in the Czech Republic stood at 4.0%, representing a year-on-year increase of 127 basis points. As of the end of June 2025, there were nearly 511,800 sqm of modern industrial space available for immediate occupancy.
Prime headline rents remained stable at the level of around €7.00 - €7.50 sqm/month. Selected prime locations outside of Prague follow a similar development, achieving around €5.70-6.60 sq m/month. Rents for mezzanine office space stand between €9.50 - €12.50 sqm/month. Service charges are typically around €0.75–1.00 sqm/month. “While prime headline rents remain at previous levels, what is changing is the achieved effective rent. Tenants are increasingly successful in negotiating higher incentives. This is particularly true in locations with higher vacancy rates or significant available supply, where landlords are more inclined to offer additional motivation,” explained Jiří Kristek, Head of the Industrial and Retail Warehousing Team at Cushman & Wakefield.
