Industrial Vacancies Down to 4.1% in 2017

Prague, Feb 4 (CTK) – The area of vacant warehouses and production halls on the Czech market reached 286,900 square metres at end-2017, accounting for 4.1 percent of the total figure and displaying an annual drop of 0.6 percentage points, according to data of Industrial Research Forum (IRF).


Prague’s vacancy rate stayed at 3.5 percent, IRF said.


The area of 286,900 square metres is an equivalent to about six Wenceslas Squares in Prague. The vacancy rate slightly increased from the end of Q3 last year.


The total area of warehouses and production halls was 11 percent higher yr/yr at 6.98 million square metres.


The biggest deal in Q4 was an Alza.cz lease on the P3 Prague premises near D8 motorway.


The area for which new lease contracts were signed went down by an annual rate of 30 percent in Q4, however, growing by 3 percent for the entire year.


A total of 685,400 square metres of new warehouses and production halls were completed last year, which was 24 percent more in annual terms, with more than a third of the total area finished in the last quarter of 2017.


Some 504,300 square metres were under construction at the end of 2017, more than two fifths of the amount in Prague and its vicinity. About 70 percent of the area of new warehouses and production halls should be finished in the first quarter this year.


IRF’s members are CBRE, Colliers Internacional, Cushman & Wakefield and JLL companies.