PL

POLAND Shoppers return to malls – C&W

Retail & leisure
Poland’s total retail stock now amounts to 15.6 mln sqm following the addition of almost 100,000 sqm n Q2 2022, according to research by Cushman & Wakefield.

The consultancy’s figures show that in Q2 there were ten new completions, including nine retail parks in such smaller towns and cities such as Busko-Zdrój, Giżycko, Jasło, Krotoszyn, Pszczyna, Puławy, Sławno, Szczytno and Łany near Wrocław. In addition to this, OBI opened its new retail warehouse in Mysiadło near Warsaw. The new supply also comprised extensions of three existing retail schemes in Knurów, Radomsko and Zamość, as well as the redevelopment of a Tesco’s store in Stalowa Wola into a Castorama store.

Retail parks dominate the development pipeline, accounting for 65 pct of retail stock under construction, while 33 new completions, redevelopments and extensions are scheduled for completion in the next few years.

At the end of June 2022, more than 400,000 sqm of retail space was in the pipeline and scheduled for completion in 2022–2023 in 29 new developments, nine extensions and four redevelopments. The largest projects underway include Fort Wola in Warsaw (28,000 sqm), the 25,000 sqm extension of the Atut Ruczaj shopping centre in Kraków, Galeria Bawełnianka in Bełchatów (23,000 sqm), the second phase of the Karuzela shopping complex in Kołobrzeg and the DOR Plaza retail park in Częstochowa.

Over 45 pct of the retail development pipeline is expected to be delivered in smaller cities with populations below 100,000. The largest conurbations account for more than 34 pct of the retail stock under construction.

Although in early 2022 the average footfall for shopping centres and retail parks was 14 pct lower than pre-pandemic levels, it averaged 380,000 shoppers per retail centre per month at the end of Q2 2022, which was on a par with the figure seen in the same period in 2019. Large and very large shopping centres (40–60,000 sqm of floorspace and over 60,000 sqm, respectively) outperformed over the period, attracting 8 pct more customers in June 2022 than in 2019.

The growth in the number of large and very large shopping centre visitors has been driven, among other things, by the geopolitical situation, which has overshadowed the pandemic. The return to time-spending habits is clearly boosting the food & beverage and entertainment sectors. In addition, shopping centres in central locations, frequently close to passenger transport hubs, have naturally welcomed our Ukrainian neighbours. The return of footfall to pre-pandemic levels bodes well, but the rising inflation and legal regulations impacting net salaries and wages are likely to affect consumer discretionary spending in the long term.
Paulina Bauer, an associate and head of retail at Cushman & Wakefield

The preliminary turnover data for shopping centres shows that retail sales were up in May 2022 by 20 pct compared to pre-pandemic levels. Increased retail spending on fashion, groceries, health and beauty in April 2022 accelerated turnover to above the 2019 level (excluding inflation).

Average net retail sales in May 2022 surpassed PLN 1,000 per sqm gla. The improving footfall level is expected to drive retail sales growth in the coming months. Given the lower prices in stores in shopping centres and retail parks, consumers will probably shift from online to offline. In the long term, however, such factors as the overall economic deterioration and rising inflation curtailing the spending power of Polish shoppers are likely to result in lower turnover levels. Inflation-driven price growth will cause consumers to rethink their priorities, with non-essential needs unlikely to be the first to be satisfied.
Beata Kokeli, Partner, the head of retail agency in Poland, Cushman & Wakefield

Latest news

Warehouse & industrial

Poland Second hall for Łódź Górna

schedule 27 September 2023
Opr./edited by ANZ

Hillwood Polska has started the expansion of the Łódź Górna logistics park with the addition of a second hall of almost 42,000 sqm. it is expected to be completed in Q1 2024.

Material partner

Poland Grounded in experience

schedule 25 September 2023

Justyna Cymerman, the head of the urban planning department of land transaction consultancy Greenfields, and Michał Różycki, its director of the land department – living sector, tell us about the company’s greatest achievements, the state of the market, and what needs to happen next to tackle the housing shortage

Warehouse & industrial

POLAND Panattoni sells 3 Polish parks for €100m

schedule 27 September 2023
Opr./edited by NN

Warehouse developer Panattoni has finalised the EUR 100 mln sale of three fully-leased industrial parks across Poland with a combined area of 135,000 sqm to an undisclosed investor.

Office & mixed-use development

Poland Falck joins Skyliner tenants

schedule 27 September 2023
Opr./edited by JC

The global healthcare company, Falck, has joined the tenant portfolio of Warsaw's Skyliner. It will occupy nearly 1,500 sqm of space in the office building.

Eurobuild Awards

POLAND Final three days for Eurobuild Awards nominations!

schedule 27 September 2023
Eurobuild CEE

Saturday, September 30th is the deadline for nominating projects and companies for the Eurobuild Awards 2023! The registration of candidates for the jury also falls on this day.

Warehouse & industrial

Germany P3 picks up three in Germany

schedule 26 September 2023
Opr./edited by JC

Polish warehouse developer P3 has completed the acquisition of three logistics properties from UK warehouse developer Baytree in Barleben, Leipzig and Hannover.

Warehouse & industrial

Poland Full house in Pruszków

schedule 26 September 2023
Opr./edited by JC

Dimax International Poland is moving to a new distribution center – Panattoni Park Pruszków V. The tenant will occupy 3,400 sqm of warehouse and office space, thus occupying the last vacant module in the investment near Warsaw.

Eurobuild CEE

Poland The October issue of Eurobuild hits the shelves!

schedule 26 September 2023
Opr./edited by ANZ

Slightly earlier than usual (due to the upcoming Expo Real trade fair), the October edition of monthly magazine 'Eurobuild CEE' has now been published, which also includes a special bonus issue devoted entirely to warehousing. Both publications are available in hard copy and in digital format – in html and in flipbook form.

Office & mixed-use development

POLAND Wipro waved into Gdańsk

schedule 25 September 2023
Opr./edited by NN

Wipro IT Services Poland, part of Indian tech giant Wipro Limited, has leased 3,500 sqm in the Wave building in Gdańsk.

Retail & leisure

POLAND Popeyes pops into Złote Tarasy

schedule 25 September 2023
Opr./edited by NN

The first Popeyes restaurant in Warsaw has opened in Złote Tarasy. The Louisiana-based fast food chain is the seventh new tenant of the shopping centre this year.

Warehouse & industrial

Poland Food expansion at GLP near Poznań

schedule 25 September 2023
Opr./edited by ANZ

Mastermedia has expanded its space at GLP's warehouse park at Poznań Airport by an additional 11,800 sqm. The company is now the largest customer of GLP Poznań Airport Logistics Centre, where it will occupy a total of 28,800 sqm of space.

Residential

POLAND Olympian project takes shape in Katowice

schedule 25 September 2023
Opr./edited by NN

Atal has started the foundation work on 17-storey tower that will form part of its Olimpijska complex in Katowice city centre.

Warehouse & industrial

CZECH REPUBLIC Shape consolidates in Panattoni Pilsen West

schedule 25 September 2023
Opr./edited by NN

Automotive parts producer Shape Corp has leased 36,400 sqm in Panattoni Park Pilsen West II, where it will employ up to 700 people.

Warehouse & industrial

POLAND Petrochemical partners in Płock

schedule 25 September 2023
Opr./edited by NN

A consortium of Hyundai Engineering and Tecnicas Reunidas has leased 2,500 sqm of warehouse space in DL Invest Park Płock.

Warehouse & industrial

Poland ECE makes its start in logistics

schedule 22 September 2023
Opr./edited by ANZ

The ECE Group is making its debut on the Polish logistics market with the construction of a 78,000 sqm project near Kąty Wrocławskie in line with the requirements of BREEAM 'Excellent' certification.

Residential

Poland In the heart of the business district

schedule 22 September 2023
Opr./edited by ANZ

Archicom and Echo Investment are to begin the construction of the Modern Mokotów residential development in Warsaw's Służewiec district. The existing office development will be replaced by a 'destination' type residential quarter.

Architecture and urban planning

CZECH REPUBLIC Dutch-Czech team wins Dejvice contest

schedule 21 September 2023
Nathan North
deputy editor

Dutch studio Benthem Crouwel Architects together with Czech architects OVA have won the competition to redesign a quarter of Vítězné náměstí (Victory Square) in Dejvice district (Prague 6).

Residential

CZECH REPUBLIC €700 mln green loan for Heimstaden

schedule 21 September 2023
Opr./edited by NN

Swedish residential specialist Heimstaden Bostad, through its subsidiaries Heimstaden Czech and Heimstaden Czech Pilsen, has received a sustainability-linked loan of EUR 700 mln from a consortium of banks for its Czech properties.

Architecture and urban planning

SLOVAKIA Alto launches Sky Park arch-comp

schedule 20 September 2023
Nathan North
deputy editor

Alto Real Estate, the owner of the Sky Park complex in Bratislava, has launched an architectural competition for its further development on an adjacent plot.

Warehouse & industrial

Poland Panattoni’s high-tech park in Gliwice

schedule 20 September 2023
Opr./edited by ANZ

Panattoni has developed a BTS facility for the Tenneco Group in Gliwice. The European Engineering Centre is to serve the company as a research and development centre for new technologies.

Latest in Retail & leisure

schedule 25 September 2023

Popeyes pops into Złote Tarasy

The first Popeyes restaurant in Warsaw has opened in Złote Tarasy. The Louisiana-based fast food chain is the seventh new tenant of the shopping centre this year.

schedule 13 September 2023

Street in the passage

Street Restaurant has opened in the Lixa office complex. The restaurant occupies approx. 470 sqm on the ground floor of the Lixa C building, facing the pedestrian walkway between ul. Kasprzaka and Giełdowa.

schedule 11 September 2023

Answear.com debuts in Warsaw

The owners of Answear.com and the Capital Park Group have signed a contract to lease space in the Norblin Factory complex in Warsaw. In the developer's flagship investment, the first stationary store of the digital platform will be established.

schedule 07 August 2023

Biggest buy for Fidurock

Czech-Dutch investor Fidurock has acquired Retail Park Trutnov in the Hradec Králové region from Czech Fund, which is managed by Brno-based Investiční skupina DRFG.

schedule 30 June 2023

13 new brands and more to come

According to Cushman & Wakefield, 13 new brands have arrived on the Czech retail market in the first six months of this year. Most of them are in the fashion segment and culinary concepts.

schedule 27 June 2023

Big make-over for One Split

CC Real, the international investment and asset management company, has commenced its extensive EUR 20 mln refurbishment of City Center one Split, due for completion by the end of Q2 2024.

schedule 01 June 2023

CBRE on the state of Czech retail

The rapid rise in prices (inflation increased by 15.1 pct y-o-y) and energy expenses have been met by a further decline in already weakened customer confidence. How did this affect shopping centres in the Czech Republic?

schedule 10 May 2023

Carrefour adds Cora Romania to portfolio

French grocery operator Carrefour has signed an agreement with Belgian retail group Louis Delhaize for the acquisition of its activities in Romania, which includes ten Cora hypermarkets and eight Cora Urban stores, as well as an e-commerce platform, logistics and central services.

schedule 28 April 2023

G City buys final 25% of Arkády Pankrác

G City Europe has completed the acquisition of the remaining 25 pct stake it did not previously own in the Arkády Pankrác shopping centre in Prague 4 (Nusle) for EUR 60.5 mln.

schedule 28 April 2023

Multiple attractions in Colosseum Mall

Colosseum Mall in Bucharest has announced the signing of a lease agreement with Hype by Kiddo for the opening of large entertainment centre. The centre will have an area of approx. 2,500 sqm, and the tenant's investment will amount to EUR 1.5 mln.

schedule 06 April 2023

First Polish M Park opens – in Świdnik

UK-based M Core, through its subsidiary LCP Properties, is to develop Świdnik M Park in an investment of EUR 10 mln. The 7,700 sqm retail park is the group’s largest development so far in Poland and the first under the M Park brand.

schedule 03 April 2023

Mitiska opens on the banks of the Danube

Mitiska REIM has announced the opening of a new retail park development in the city of Giurgiu, located in southern Romania.

schedule 31 March 2023

Two new Vendo Parks

Trei Real Estate has just opened another two retail parks of its Vendo Park brand in Poland. The properties are located in Zambrów and in Kraków. The two retail parks have a combined lettable area of around 11,000 sqm, and the investment volume adds up to circa EUR 16.4 mln.

schedule 24 March 2023

Glinianka is filling up

Jysk, which took up around 1,300 sqm, and Piekarnia Cukiernia Grzybki bakery (around 170 sqm) are new tenants at the Glinianka retail park. The park is being built in the village of Łubna, near Warsaw, and will provide the Mazovian market with around 10,000 sqm of leasable space. 

schedule 08 March 2023

Carrefour takes over in Plac Unii

A 3,000 sqm Carrefour supermarket is to open in thee Plac Unii office and retail complex in Warsaw, where it will replace Supersam, which operated in the complex until the end of 2022.

schedule 24 February 2023

Turawa Park ready for extension

Focus Estate Fund will soon start work on the extension of the Turawa Park shopping centre in Opole. The end of the redevelopment is scheduled for the fourth quarter of this year.

schedule 27 January 2023

Forum Gdańsk has new manager

In January 2023, Sierra Balmain commenced cooperation in the field of lease management and the provision of financial and corporate accounting services for the Forum Gdańsk shopping centre, owned by NEPI Rockcastle.

schedule 26 January 2023

Dawna Fabryka to replace former factory

The Dawna Fabryka retail park is to be built on the site of the former ZREMB Foundry near the centre of Jelenia Góra in southwestern Poland.

schedule 19 January 2023

Focus turns to Ferio Legnica

Focus Estate Fund has acquired the 13,200 sqm Ferio Legnica shopping centre in southwest Poland from Raiffeisen Bank International for an undisclosed sum.

schedule 18 January 2023

Strong retail in Romania

Cushman & Wakefield Echinox has presented its report on Romanian retail market. The development activity in the retail sector remains animated, with over 230,000 sqm planned to be delivered in 2023, which is the highest level of the last six years.

Edition 10 (282) October 2023

Latest comments

Categories