News Article Czech Republic industrial IRF Prague
by Ákos Budai | Industrial

Gross take-up on the Czech Republic industrial market reached 349,300 sqm showing an increase of 11% on the Q1 2016 figures. The Industrial Research Forum has announced its final industrial market figures for Q2 2016.

At the end of Q2 2016, the vacancy rate in the Czech Republic reached 4.7%, having increased by 57 bps since Q1 2016. This represents a total of 282,900 sqm of modern industrial premises ready for immediate occupation. Vacancy in Prague increased slightly reaching 3.2% at the end of Q2 2016.
During Q2 2016, gross take-up, which includes renegotiations, reached 349,300 sqm showing an increase of 11% on the Q1 2016 figures. In comparison to the same period of last year, gross take-up declined by 3%. Net take-up in Q2 2016 totalled 263,700 sqm, which is 25% above the previous quarter. Year on year it increased by 4%. Net demand in Q2 2016 was driven by logistic (3PL) companies (51%). The share of renegotiations went down to 25% of quarterly gross take-up.
The largest new transaction in Q2 2016 was concluded by Sportisimo, who signed a pre-lease for 34,800 sqm at Prologis Park Prague-Rudná. The second largest new transaction was a pre-lease of 24,500 sqm signed by Raben Group for premises at Panattoni D5 Hořovice Park. The largest renegotiation of Q2 was concluded by Personna International, prolonging their 16,550 sqm lease in CTPark Teplice. 
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).