MAPIC: NAI launches new retail division in CEE

Property adviser NAI Pickard has announced the launch of a new retail division, NAI Pickard Retail.

NAI Pickard describes itself as market leader in Ukrainian retail property, valuation, letting and strategic advice. The company says the new division is a resporesponse to the increased retailer demand for services in the growing and fast-changing retail market, both in Ukraine and Central and Eastern Europe.

Terry Pickard, chairman of NAI Pickard, commented: 'Generally, throughout the Central & Eastern European region, the past decade has seen a massive expansion of retail companies, concepts, outlets and a very strong growth in the sector. Put simply you could create, build, operate and tenant then sit back and collect the profits or rental income.

'That period has or is now coming to an end for the following reasons: lack of space generation, more effective competitors, ineffective operations and the world economic crisis. Now all the proven ''tricks of the trade'', so highly developed in the west will need to be utilised by developers, operators and retailers for them to remain in "the game" through the next decade. It is important retailers start this process of profit and capability improvement now to remain competitive.'