There have been signs of recovery on the industrial and logistics property market in the first half of 2010. While in the first quarter of this year lease agreements for approx. 158.000 m2 of new space have been signed, there were 221.500 m2 under contract. In total, in the first half of 2010 demand amounted 380.000 m2 and has nearly reached the same volume of leases that were signed in the last year,  when the lease agreements of 390.000 m2 of industrial and logistics premises were concluded. Growing demand positively affects both 1) the vacancy rate that has q-o-q (2010 vs. Q1. Q2 2010) declined of one percentage point to the current level of 15.5%, and 2) the cautious recovery on the supply side (only one storage hall of around 12.000 m2 was finished, there is another 100.000 m2 of new industrial and logistics premises under construction). There is no speculative development at present, all projects that are currently being built have pre-leases. The Czech industrial and logistics market reached a total area of 3,36 million m2 by mid of 2010. Rent (headline rent) remains the same as in the first quarter of 2010 and may be reduced by individual incentives given by developers on a particular lease.
 
Note for editors: The three key data areas (total stock, take-up and vacancy rate in the Czech industrial and logistics market) are result of new mutual cooperation among King Sturge, DTZ and CBRE property consultancies.