ARTICLES LABELLED WITH TAG Czech Republic

During Q1 2019, some 168,300 sqm of warehouse space was completed on the Czech industrial market. In year on year comparison, this was a 20% decrease, but in longer term comparison, the completions level was 25% above 5-year average, according to Colliers International.

Two large transactions in excess of €200 million that closed in Q1 and pipeline transactions of at least €1.5 billion point to the overall investment volume for 2019 exceeding the figures achieved in 2018 in 2019, according to the latest research from Colliers International.  

Flow East has announced that its new development, currently under construction on Wenceslas Square, will be named "The Flow Building". The mixed-use project will offer nearly 15,000 sqm of Class A office space and 6,000 sqm of high-quality retail space upon its completion in 2020.

Investment fund Focus Estate Fund has set the goal to expand the geography of its presence in Central and Eastern Europe. In the next two years, the Fund plans to more than double its portfolio by strengthening its position in the niche of medium-sized commercial real estate in Poland and the Czech Republic, as well as by entering the Slovak market.

At the end of Q1 2019, the total modern Class A industrial stock in the Czech Republic stood at 7.97 million sqm. In the first three months of 2019, the Prague industrial market has exceeded the magical milestone of 3 million sqm, confirming its position as the largest industrial market in the country, followed by the Pilsen and South Moravian markets, according to JLL:

According to the RICS Commercial Property Monitor, Hungary has the strongest occupier sentiment and the Czech Republic has the strongest investment sentiment among the 40 countries surveyed in Q1 2019. Market expectations remained fairly positive across Central and Eastern Europe in the first quarter of the year, with the share of those stating that we have reached the peak of current property cycle decreasing compared to previous quarters.

The Czech property investment market continues to post solid figures in an environment that is increasingly less bullish. One of the leading local players believes that a downturn of the current property cycle will eventually come from a major outside macro shock and before this happens, the Czech commercial property sector will keep showing positive figures. Tomáš Jandík, CFA, MRICS, REICO’s Chief Investment Officer shared his market expectations with Property Forum.

CTP has launched two new industrial parks just outside of Plzeň, on the D5 highway connecting the Czech Republic with Germany. Up to 46,000 sqm of space will become available for new clients in the initial phases of construction in CTPark Cerhovice and Blatnice.

Cushman & Wakefield has published new research assessing 48 of the most suitable locations for global manufacturers to expand or relocate their operations in EMEA, the Americas and Asia-Pacific. While manufacturers’ individual requirements will vary, China performs strongly thanks to increasing government investment in the adoption of technology, while the United States is most attractive for those seeking to minimise exposure to economic and political threats, followed by Canada and the Czech Republic. Considering basic criteria the Czech Republic is fifth globally and first in Europe.

During Q1 2019, gross take-up, which includes renegotiations, reached 384,700 sqm of the Czech industrial market, showing an increase of 24% over Q4 2018 figures. The Industrial Research Forum announced the final industrial market figures for Q1 2019.