Report: Poland's Retail Market
With the minor exception of hypermarket take-overs, there will
be no major changes on the retail market according to analysts, and the
entertainment and leisure sector will continue to move forward slowly.
By the end of this year's 1st quarter, there was over 3.9 mln
sqm of modern retail space in Poland's eight biggest cities and over 800,000 sqm
in 65 towns.
High Streets
Demand for space in the high streets of big cities remains higher than supply
and despite growing competition from shopping centres, their prestige and appeal
are not diminishing. The vague legal status of the real estate, (in for example,
ul. Chmielna in Warsaw), and the lack of modern space are frequent obstacles to
their development. Developers have responded by using the lowest floors of
office buildings as retail units.
Rents: EUR 35-80 sqm (Cushman & Wakefield H&B) in ul. Chmielna in Warsaw
and USD 85 per sqm, (Jones Lang LaSalle), in ul. Nowy Świat.
Shopping centres
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