At the end of Q1 2016, the vacancy rate in the Czech Republic reached 4.2%, having decreased by 96 bps since Q4 2015. This represents a record-low vacancy rate level, previously recorded in the pre-crisis period. There is currently 240,900 sq m of modern industrial premises ready for immediate occupation. Vacancy in Prague dropped below the country average reaching just 3.1% at the end of Q1 2016.

 

During Q1 2016, gross take-up, which includes renegotiations, reached 313,600 sq m showing a decrease of almost 30% on the Q4 2015 figures. In comparison to the same period of last year, gross take-up increased by 29%. Net take-up in Q1 2016 totalled 210,900 sq m, which is 5% above the previous quarter. Year on year it increased by 8%. Net demand in Q1 2016 was driven by retail companies (45%). The share of renegotiations reached 33% of quarterly gross take-up.

 

The largest new transaction in Q1 2016 was concluded by a confidential client, who signed a pre-lease 73,100 sq m in Panattoni Park Cheb. The second largest new transaction was represented by a pre-lease of an undisclosed manufacturing company in a brand new logistics park CTPark Aš (22,400 sq m). The largest renegotiation of Q1 was concluded by Grupo Antolin Bohemia, renewing its 21,700 sq m lease in P3 Liberec.