PL

POLAND Poles embracing convenience

Retail & leisure
The volume of internet sales in Poland has now almost returned to pre-pandemic levels, while at the same time Polish consumers have become more willing to shop in convenience centres in smaller retail formats, according to JLL.

Between the beginning of the year to the end of September, the supply of retail space in Poland increased by 248,000 sqm – 30 pct of which was accounted for by convenience centres. As a result of the pandemic, retail development activity has slowed and the habits and needs of Polish consumers have changed, according to JLL’s summary of the Polish retail market at the end of Q3 2020.

The local and convenience trend, which was present before Covid-19, has been boosted by the pandemic, and is reflected in the new retail supply. Of the 54,000 sqm of new retail space delivered in Q3, 53 pct was located in seven convenience centres and another 27 pct in retail parks. In addition, these formats are also becoming increasingly attractive to investors.
Joanna Tomczyk, a senior tesearch analyst at JLL

Mixed-use projects have continued to strengthen their position on the Polish market. The third quarter saw the opening of The Warsaw Hub, in which 4,800 sqm of the total area of over 110,000 sqm is retail space. However, five hypermarket-driven shopping centres have closed (four Auchan centres and one Tesco). The shopping centre stock has also shrunk due to a number of projects no longer meet shopping centre criteria (e.g. Galeria Kamienna in Starachowice and Galeria Plaza in Kraków) or that have converted some retail space for different functions (e.g. Renoma in Wrocław and Plac Unii City Shopping in Warsaw).

Undoubtedly, the near future, as in the case of other segments of the commercial real estate sector, will be marked by flexibility. On the one hand, we can expect downward pressure on prime rents, and on the other, tenants’ expectations towards agreements which, in their opinion, should respond better to the changing needs and business conditions, as well as offer a number of incentives, such as flexible lease agreements or longer rent-free periods. It should be underlined, however, that in this difficult period for all participants of the industry, it is necessary to cooperate and jointly develop models acceptable to all parties.
Anna Wysocka, the head of the retail agency at JLL

Four international brands entered the Polish retail market in Q3 2020: Primark in Galeria Młociny in Warsaw, Courir (which has returned to Poland after a short absence) in Galeria Krakowska in Kraków, Falconeri in Galeria Mokotów in Warsaw, and Russian ‘hard discount’ brand Mere in Częstochowa. The combination of discount stores with cash & carry wholesale is likewise being developed by Carrefour’s Supeco brand, the expansion of which has been accelerated this year.

Latest news

Investment & finance

SLOVAKIA CA Immo exits Slovakia with BBC sale

schedule 01 March 2021
Nathan North
deputy editor

CA Immo has sold Bratislava Business Center 1 and 1 Plus to Prague-based investment bank Wood & Company for an undisclosed sum.

Office & mixed-use development

Poland First building of Palio Park now open

schedule 01 March 2021
Opr./edited by AH

The first building of the Palio Office Park in Gdańsk has been handed over.

Events

POLAND The search for a (tennis) star!

schedule 27 January 2021
Eurobuild Conferences

The champion for many years was Michał Małaszyński of APP-Projekt, while the last two years have been dominated by Krzysztof Stempień of Cresa. But who will be carrying off the trophies from the Eurobuild CEE Annual Tennis Tournament this year?

Office & mixed-use development

Bucharest set to expand

schedule 01 March 2021

Demand for office space in Bucharest is to increase by 20-30 pct this year, according to Cushman & Wakefield Echinox.

Retail & leisure

Poland Żabka counts to 7,000

schedule 01 March 2021
Opr./edited by AH

The Żabka chain has opened its 7,000th grocery store.

Hotels

HUNGARY W Budapest hotel starts to take shape

schedule 01 March 2021
Nathan North
deputy editor

Hungarian building services provider DVM group has started the construction work on the neo-renaissance Drechsler Palace in Budapest in a project to prepare it to become the first W Hotel in Hungary.

Office & mixed-use development

ROMANIA CBRE to move to One Tower

schedule 01 March 2021
Nathan North
deputy editor

CBRE’s Romanian office is to move to One Tower in Bucharest.

Eurobuild CEE

POLAND February’s Top Five – the most popular articles you read last month

schedule 01 March 2021
Eurobuild CEE

We are going back to the tradition of readership summaries of our website – every month we will publish a list of the five most popular articles in Polish and English. The English version of the February Top 5 was dominated by acquisitions, but as the winner of the ranking is an article on... the Polish media protest.

Warehouse & industrial

POLAND No Limit for 7R Park Sosnowiec

schedule 26 February 2021
Nathan North
deputy editor

Logistics company No Limit has leased space in 7R Sosnowiec in Silesia for its new headquarters.

Warehouse & industrial

Europe TCC enters the region

schedule 26 February 2021
Opr./edited by AH

US developer Trammell Crow Company (TCC) has announced that it is to enter the European warehouse market.

Office & mixed-use development

Poland Carbon Tower fills up

schedule 26 February 2021
Opr./edited by AH

Cavatina Holding has leased 4,500 sqm in its Carbon Tower building in Wrocław to an undisclosed financial client.

Warehouse & industrial

Europe Good year for accolade

schedule 26 February 2021
Opr./edited by AH

The Accolade Portfolio has risen in value to EUR 700 mln with rental income up by 35 pct y-o-y.

Warehouse & industrial

Examining the rise of urban logistics

schedule 26 February 2021
Opr./edited by AH

Over the last decade, the supply of industrial space has more than tripled from 6.3 mln sqm at the end of 2010 to almost 21 mln sqm in 2020, according to the 'Logistics Avenue: city logistics market in Poland’ report published jointly by JLL and Segro.

Investment & finance

CEE REGION GalCap loaned EUR 66.5 mln for Warsaw and Budapest offices

schedule 26 February 2021
Nathan North
deputy editor

Pbb Deutsche Pfandbriefbank has provided a EUR 66.5 mln investment loan facility for an office portfolio managed by GalCap Europe on behalf of an institutional client.

Office & mixed-use development

POLAND Orbico happy to stay in Silesia Business Park

schedule 25 February 2021
Nathan North
deputy editor

Orbico Poland has extended its lease of 1,030 sqm of office space in building B of Silesia Business Park in Katowice, which is owned by ISOC.

Warehouse & industrial

ROMANIA Mobexpert moves into Constanța Business Park

schedule 25 February 2021
Nathan North
deputy editor

Romanian furniture producer and retailer Mobexpert has leased a 2,000 sqm logistics unit in Constanța Business Park, which is being developed by Globalworth and Global Vision.

Office & mixed-use development

POLAND Generation Park Y ready for use

schedule 25 February 2021
Nathan North
deputy editor

Generation Park Y in Warsaw, Skanska’s tallest office building in the CEE region, has now been issued with an occupancy permit.

Warehouse & industrial

POLAND InPost comes to Prologis Park Chorzów

schedule 24 February 2021
Opr./edited by NN

InPost, which owns the Paczkomaty network of parcel lockers, is to open a new 6,000 sqm logistics centre in Prologis Park Chorzów.

Property and Facility Management

POLAND Colliers goes Face2Face once more

schedule 24 February 2021
Opr./edited by NN

Colliers International has taken over the management of the second building of the Face2Face Business Campus office complex in Katowice.

Warehouse & industrial

POLAND Panattoni to build 8th Warsaw city logistics project

schedule 24 February 2021
Opr./edited by NN

Panattoni has announced its latest city logistics project in Warsaw: City Logistics Warsaw VI in the city’s Targówek Fabryczny district.

Latest in Retail & leisure

schedule 01 March 2021

Żabka counts to 7,000

The Żabka chain has opened its 7,000th grocery store.

schedule 18 February 2021

Peek & Cloppenburg in Etele Plaza

Peek & Cloppenburg is to open a 4,000 sqm store in Etele Plaza in Budapest.

schedule 12 February 2021

KappAhl comes to Elbląg

Swedish clothing producer KappAhl has leased 646 sqm for the opening of a new store in the northern Polish town of Elbląg. The store is to open in the Ogrody shopping centre, which is owned by CPI Property Group.

schedule 11 February 2021

Gemini Park now full

Gemini Park in Tarnów is fully leased. Over the last year, eight tenants have moved into the 43,000 sqm centre with 130 stores and service points.

schedule 04 February 2021

S-Park Kaposvár prepares to open

Shopping centre developer and operator SES Spar European Shopping Centers is to open a retail park in Kaposvár in southwestern Hungary on March 11th.

schedule 02 February 2021

NEPI Rockcastle assesses Covid impact

NEPI Rockcastle has released a report on the trading restrictions in the countries where it operates and how they affect its business in Poland, non-essential stores over 2,000 sqm reopened on February 1st 2021.

schedule 01 February 2021

Retail grows small

Retail space supply topped 340,000 sqm in 2020. The market saw 33 new completions despite the pandemic.

schedule 01 February 2021

Fashion House closer to finishing second Romanian outlet centre

The Fashion House Outlet Centre Pallady on the eastern outskirts of Bucharest is now more than 70 pct leased and is now on schedule to open its doors to shoppers for the first time on March 25th.

schedule 27 January 2021

Acteeum set to launch work on Ostróda Power Center

Acteeum is preparing to launch the development of its latest new project – Ostróda Power Center in Poland’s Masurian region.

schedule 22 January 2021

Retail still in the doldrums

Over the past twelve months, three lockdowns have changed Polish shopping habits and resulted in smaller retail outlets growing in popularity, claims JLL in its latest research.

schedule 14 January 2021

M&S "temporarily" closes Czech stores

UK supermarket chain Marks & Spencer is to close all of its Czech stores “temporarily” on January 15th due to the impact of Covid-19 and Brexit, according to the company.

schedule 05 January 2021

Carrefour stays in Ogrody

Carrefour has extended its lease in the Ogrody shopping centre in Elbląg for another five years.

schedule 04 January 2021

Ikea set to begin EUR 50 mln Belgrade retail park

Ikea has announced that it is ready to start the construction of the Ava Shopping Park in Belgrade.

schedule 31 December 2020

Two new Vendo Parks open

Trei Real Estate has opened two new retail parks under the Vendo Park brand in Poland in a single week. The centres are located in Łuków in Lublin province and Władysławowo in Pomerania.

schedule 30 December 2020

LCP still in acquisition mode

LCP has finalised the purchase of four retail parks this month and at the beginning of the new year, the company expects to make more acquisitions.

schedule 22 December 2020

Immofinanz adds eight parks to Stop Shop network

Austrian real estate investor Immofinanz has added eight locations in Serbia, Czech Republic, Croatia and Austria to its Stop Shop retail park network.

schedule 16 December 2020

Fidurock almost ready for resi-retail project

Dutch-Czech investment company Fidurock has obtained a zoning permit for a retail park development in the spa town of Piešťany in western Slovakia.

schedule 10 December 2020

Rossmann and Pepco in Awangarda

Rossman and Pepco have joined the tenant mix in Galeria Awangarda in Bartoszyce near the border with Kaliningrad.

schedule 02 December 2020

Tough times for Riga high street

With every fifth store standing vacant, street retail has not become established in Riga, according to a study by Colliers International.

schedule 24 November 2020

HopStop sold to LCP Properties

The HopStop convenience retail park in Siedlce has been sold by Polish developer Katharsis Development to UK investor LCP Properties for an undisclosed sum.

Categories