14. Februar 2012 
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Warsaw becomes prime target for mid fashion and luxurious retailers
CBRE issued its quarterly Warsaw Retail Market View 4Q2011 report, covering all aspects of the retail market in Warsaw, including demand, supply, rents, yields and trends.
Warsaw retail market continues to evolve and boast prime opportunities for further expansion both in terms of geographies as well as the range and type of available retail formats. The performance of Warsaw retail market remains demand-driven with extremely limited 2012 – 2013 pipeline in relation to the consistently strong demand, leading to negligible vacancies in almost all retail schemes.
Limited retail provision on dynamically growing Warsaw’s suburbs as well as growing average purchasing power stimulate expansion plans of the existing and new mid-market retailers, while growing appetite of the capital city dwellers for luxury goods attracts increasingly top-tier brands.
Warsaw remains the leading market in Poland with 1.36 million m² of modern retail space, but the market is considerably undersupplied.
2011 saw no completions of shopping centre schemes, as the only two quality retail space completions are not falling into the ICSC’s definition. VitkAc (former Wolf Bracka) is a department store, while other retail space delivered, such as Tivoli Park in Bialoleka, is being sold on per unit basis. Offering quality retail space (albeit on a very small floor plan) VitkAc is the one in its kind project on Warsaw retail market that is otherwise strongly dominated by mid-market fashion brands. It has opened with a range of luxury brands which entered the market on concession basis.
2012 and 2013 completions are expected to be equally limited, increasing current retail space volume by only 5% within the next 24 months with only Neinver’s Factory Annopol scheduled for the end of 2012.
Proving the market soundness prime retail yields have seen further compression to the current 6%. Poland remains the most active of the CEE investment markets with 2011 volume reaching € 3.1 billion , including 54% (or some 1.7 billion worth) transacted retail assets. In 2011 Warsaw saw a substantial volume of the retail transaction including such quality schemes as Promenada (purchased by Atrium for nearly € 170 million), Galeria Mokotow (50% share bought by Unibail – Rodamco) and Wars Sawa Junior (of which 50% is now owned by CBRE Investors).
As the run toward safety continues (prime asset transactions were mostly cash financed as external financing remains scarce), the best shopping centres in Warsaw continue to outperform other investment class of products.
Warsaw retail market continues to evolve and boast prime opportunities for further expansion both in terms of geographies as well as the range and type of available retail formats. The performance of Warsaw retail market remains demand-driven with extremely limited 2012 – 2013 pipeline in relation to the consistently strong demand, leading to negligible vacancies in almost all retail schemes.
Limited retail provision on dynamically growing Warsaw’s suburbs as well as growing average purchasing power stimulate expansion plans of the existing and new mid-market retailers, while growing appetite of the capital city dwellers for luxury goods attracts increasingly top-tier brands.
Warsaw remains the leading market in Poland with 1.36 million m² of modern retail space, but the market is considerably undersupplied.
2011 saw no completions of shopping centre schemes, as the only two quality retail space completions are not falling into the ICSC’s definition. VitkAc (former Wolf Bracka) is a department store, while other retail space delivered, such as Tivoli Park in Bialoleka, is being sold on per unit basis. Offering quality retail space (albeit on a very small floor plan) VitkAc is the one in its kind project on Warsaw retail market that is otherwise strongly dominated by mid-market fashion brands. It has opened with a range of luxury brands which entered the market on concession basis.
2012 and 2013 completions are expected to be equally limited, increasing current retail space volume by only 5% within the next 24 months with only Neinver’s Factory Annopol scheduled for the end of 2012.
Proving the market soundness prime retail yields have seen further compression to the current 6%. Poland remains the most active of the CEE investment markets with 2011 volume reaching € 3.1 billion , including 54% (or some 1.7 billion worth) transacted retail assets. In 2011 Warsaw saw a substantial volume of the retail transaction including such quality schemes as Promenada (purchased by Atrium for nearly € 170 million), Galeria Mokotow (50% share bought by Unibail – Rodamco) and Wars Sawa Junior (of which 50% is now owned by CBRE Investors).
As the run toward safety continues (prime asset transactions were mostly cash financed as external financing remains scarce), the best shopping centres in Warsaw continue to outperform other investment class of products.
