Shopping centres with a total area of 115300 sqm were delivered to the market …
April 23, 2015 by admin
Filed under Choosing Lingerie
In the first quarter of 2015 shopping centres with a total area of 115,300 sqm were delivered to the Polish market. The total stock of modern retail space reached about 10,5 million sqm. The largest projects under construction include Posnania in Poznań (100,000 sqm), Zielone Arkady in Bydgoszcz (51,000 sqm) and Sukcesja in Łódź (46,300 sqm) – according to “Retail Market Q1 2015” report by Colliers International.
Supply
During the first three months of the year one large retail project was completed – Tarasy Zamkowe in Lublin (38,000 sqm). New, smaller schemes include, among others, Galeria Sanok (7,000 sqm) and Era Park Wieluń (6,000 sqm). The extension of existing projects played a significant role in a new supply, constituting 51% of delivered space. The most important is the completion of the next phase of Magnolia Park in Wrocław as well as opening of a new part of Atrium Copernicus in Toruń. Also in March, the enlarged CH Ogrody shopping centre in Elbląg was opened.
Demand
In the first quarter of this year, several foreign brands debuted in Poland, such as: the first Esprit Bodywear lingerie store in Galeria Krakowska in Kraków, the first Swedish fitness club Fitness24Seven in Galeria Dębiec in Poznań and Spanish chain Décimas from fashion sector in Magnolia Park shopping centre in Wrocław. The other interesting events of the past quarter include the re-opening of the Guess store in Dom Mody Klif in Warsaw. As a result of the expansion of previously leased space, Reserved has opened its largest store in Poland in Wola Park shopping centre in Warsaw, while in Katowice, in Silesia City Center, the chain opened its first store dedicated to only one clothing line – Young Fashion Lab (YFL).
Colliers International is observing a growing number of retailers choosing to sell their products at lower prices in outlet stores. This trend also applies to luxury brands e.g. Michael Kors shop in the Fashion House Outlet Centre in Piaseczno and the Pako Lorente outlet store in Galeria Sandecja in Nowy Sącz
The popularity of ‘omnichannel commerce’ is gradually increasing which is a response to the development of technology and communication channels. An example of this trend is Rossmann’ s online drugstore, which launched full-scale operations enabling virtual shopping throughout the country. The online store of the well-known Swedish brand HM also premiered in Poland.
Available space
The average vacancy rate, noted at the end of December 2014 in the largest Polish agglomerations reached 2.5%, while in case of cities with a population of 200,000-400,000 it was 3.5%.
Prognosis
At the end of Q1 2015, approx. 677,000 sqm of new retail space was under construction. More than 70% of which is planned to be delivered by the end of this year. We are observing a strong revival in the largest agglomerations, where more than half of the space, currently under construction, is located. However, developers’ interest in small cities (fewer than 100,000 inhabitants) is not weakening, accounting for 30% of retail space under construction.
Colliers is seeing an increase in investors’ interest in schemes located on the main high streets of cities. At the beginning of the year the demolition of the Sezam department store began, to be replaced with an office building with retail and services on the ground floor. In addition, also in Warsaw, the ground floor of the Ethos project – formerly Holland Park, is modernized. The building will accommodate luxury brands. Meanwhile, in Poznań, work on the Półwiejska_2 project is coming to the end. In January, McDonald’s and LPP took over their units in order to carry out the arrangement process.
