Monthly Archives: April 2012

75k sqm of new industrial space in Czech Republic

The Czech Industrial Research Forum is reporting that the total stock of modern warehouse space rose 75,600 sqm in Q1 2012 to 3.9 million sqm. It adds that another 132,500 sqm is under construction, suggesting that the market isn’t quite as dead as people have been making out. Over the same period, gross take-up was 130,700 sqm, a 30% drop from Q4 2011. Net take-up, the number developers really worry about fell 43% to just 89,000 sqm. Vacancy rose for the first time in two years to 7.3% from 6.7% in Q4 2011.

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Valad signs two deals in Czechia

Valad has a couple new industrial signings to boast about, toalling 3,390 sqm in Čestlice Business Park and Břeclav Industrial Park. Sanitop has signed up for four years (1,120 sqm of office and warehouse) in Čestlice, while Hobby Car has a similar mix going on in Břeclav. “To have secured these two new high quality tenants in the Czech Republic is an excellent result for the CEIF fund,” says David Svoboda, Country Manager for Valad in the Czech Republic.

The pain stays mainly in Spain

There’s good news, and bad news. The more hopeful signals are coming from the United States, where the economy now appears to be gaining strength. Not only is the car sector picking up steam, according to economists, but even the housing market, which had been dragging the country down, is producing enough ouput to start giving even the pessimists pause for thought. On the other side of the coin, we have Spain, which is doing its best to ruin what slender hopes of recovery there were for Europe. Its central bank says the country is back in recession, basing the statement on the country’s performance in Q1 2012, as GDP slid 0.3%.

News clips 4/13

-Bank of America is unloading a big block of foreclosed homes. And not for the first time. Funny how you just don’t get that kind of thing here in Europe. The moves comes as the American housing market continues to show signs of recovery.

-Aareal Bank gets its A- rating confirmed by Fitch. Not that this looks like it’ll be enough to keep the bank active in property

-Orco Property Group has called a meeting of bondholders (Feb 3., 2006) on April 30 at the Archa palace, conversion of bonds into stock is on the agenda