There was 689,800 sqm of storage and industrial space under construction at the end of Q3 2017. 44 % of that space is being delivered to the Greater Prague area. The Industrial Research Forum announced the preleminary industrial market figures for Q2 2017.
In Q3 2017, industrial space totalling 92,000 sqm was completed within 10 industrial parks across the Czech Republic. Major completions include the expansion for Assa Abloy at Panattoni Park Stříbro totalling 26,400 sqm and a building extension of 13,100 sqm at CTPark Přeštice delivered for the supplier of automotive components, which is already established in this location. Speculative construction accounted only for 21 % of all developments completed in the third quarter of 2017.
Total stock of modern industrial and logistics space in the country increased to 6.75 million sqm.
There was 689,800 sqm of storage and industrial space under construction at the end of Q3 2017. 44 % of that space is being delivered to the Greater Prague area. 40 % of the industrial construction pipeline is due for delivery by the end of 2017. The share of speculative development under construction remained at 32 % same as at the end of Q2 2017.
Prime headline rents in the Czech Republic increased slightly and in Q3 2017 achieved €4.35 – 4.50/sqm/month. The rents for mezzanine office space stand at €8.50-9.00/sqm/month. Service charges typically reach around €0.50-0.65/sqm/month.
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).