Total modern developer-led warehouse stock in the Czech Republic currently totals 7.37 million sqm. Almost 170,700 sqm of new industrial space were delivered to the market in Q2 2018.

 

At the end of Q2 2018, the vacancy rate in the Czech Republic reached 3.7%, showing a decrease of 52 bps compared to the previous quarter. The vacancy rate in Prague decreased to a level of 2.7%, while the Olomouc region has the highest share of unoccupied industrial area (13.5%). The total of 274,300 sqm of modern industrial premises is ready for immediate occupation in the Czech Republic.

 

Gross take-up (including renegotiations) reached 313,300 sqm in the second quarter of 2018 showing a quarterly decrease of 25%. Compared to the same period in the previous year, gross take-up decreased by 11%.

 

Net take-up totalled 219,900 sqm in Q2 2018, which represents a quarterly increase of 14%. Year on year, net take-up decreased by approximately 15%. Net demand in Q2 2018 was mainly driven by manufacturing companies (44%).

 

The share of renegotiations accounted for 30% of total take-up in Q2 2018.

 

The largest new transaction in Q2 2018 was a pre-lease of 24,700 sqm for a logistics company Europe Huajie Development in Panattoni Park Prague Airport II. The largest renegotiation was concluded by an undisclosed distribution company, who prolonged their lease of 13,400 sqm in Prologis Park Prague Jirny.