Logistics: No supply in Ostrava region
Nearly zero supply of modern logistics halls for immediate lease has become reality in some parts of the Czech Republic. There was a strong interest in rents last year, however, construction of new halls did not keep up. Logistics companies and manufacturers are forced to choose between lower quality premises or they must wait for new construction. This is true especially for Ostrava, Olomouc, Liberec and Hradec Králové. “Today, clients who seek modern logistics space need to wait at least six months from signing lease contract until property developers complete custom-made premises. Or they are forced to move into a third-class space, since the second-class spaces are almost sold out in Ostrava. The situation is very complicated especially for companies seeking 1 to 2 thousand sqm of space. Property developers usually build halls above 4,000 sqm,” says Jaroslav Kauze from Cushman & Wakefield.
The vacancy rate in Ostrava was zero at the end of 2011. A year ago there was 15% of vacant space for lease. Ostrava correlates with Pilsen, where the number of European-standard vacant buildings decreased significantly already in 2010.