New retail schemes in major Polish cities are set to add 980,000 m2 of GLA to the market in the next two years, a new report by Colliers International reveals.
New retail schemes in major Polish cities are set to add 980,000 m2 of GLA to the market in the next two years, a new report by Colliers International reveals.
The report, ‘Return of the Big Cities’, found that most of the new space will be delivered in Warsaw where no full-scale retail schemes have been completed in the last seven years. The existing stock amounts to 1.4 million m² GLA across 43 schemes.
‘Within the next three years, the deficit in good quality space for lease will be satisfied by new retail investments totalling 400,000 m2 GLA,’ said Marta Machus-Burek, director of retail strategies at Colliers International.
Upper Silesia is the second-largest retail market in Poland with 41 shopping centres totalling 1.1 million m². Further schemes are currently being built including Supersam in Katowice, Galeria Galena in Jaworzno and Marcredo Center in Piekary Œl¹skie. Gemini Park Tychy is one of the projects at an advanced level of planning.
The retail stock in the Kraków agglomeration amounts to 550,000 m² GLA across 15 schemes. The main pipeline project is the Serenada shopping centre which is due to be completed in the next three years.
The Lodz agglomeration, the fifth urban centre in Poland in terms of size, is a retail market with over 500,000 m² GLA (14 shopping centres). No new shopping centres have been delivered to the market within the last four years, causing the vacancy rate to drop to 2.8%. Two projects – Sukcesja, which is due to open in spring 2015, and the small convenience shopping centre Vis à Vis – are currently under construction in the city.
Click on #Mapic2014 for all of PropertyEU's news stories from 20th Mapic the retail real estate property fair in Cannes.
