INDUSTRIAL PROPERTY MARKET Q4/2023

• In Q4/2023 stock of "A" class industrial premises for lease reached 11,986,713 sq m. 280,850 sq m of new industrial premises were delivered to the market. Over 1 million sq m of new premises were delivered to the market in 2023.

• There were 1,316,340 sq m under construction across all major industrial locations in the Czech Republic. Construction activity remains high and it will not slow down until the end of H1/2024 if we take current projects in consideration.

• The vacancy rate increases again to 3.13% which represents 375,252 sq m with shell and core premises included. Excluding them, the vacancy rate slightly decreased to 1.99% with 239,043 sq m available. Most of the available premises are located in the Central Bohemia region and Moravian-Silesian region.

• Both net and gross take-up returned to normal values after the Q3 slump. Gross take-up reached 485,147 sq m while net take-up reached 311,384 sq m. Majority of the leases were signed by logistics and wholesale companies. Demand by manufacturing companies has increased again after the outage in Q3.