Flexibility – the key to retail success

How do you assess the current condition of the Polish retail sector – is the market able to maintain such high levels of activity without the risk of oversupply? Anna Wysocka, head of retail, CBRE: The Polish retail property market has been described as mature for several years now. With a total supply reaching 15.6 mln sqm across all formats, saturation stands at 427 sqm per 1,000 inhabitants – a level comparable to the European average. Retail parks currently account for 28 pct of the total supply and have been the most dynamically expanding format in recent years, with average annual completions of app. 400,000–500,000 sqm. The shift towards retail parks reflects the natural evolution of the market and is largely being driven by land availability – sites suitable for large-scale shopping centres in Poland can now be counted on one hand – as well as by the commercial potential of new locations and the expansion strategies of retail operators. However, I wouldn’t say that