Extensions to established shopping centers will be a significant driver of new retail space development across Europe in the next two years, according to the latest report by Cushman & Wakefield. The total amount of new retail area set to be delivered in the period is estimated at 6.8 million sqm. “Extensions to established centers will account for around a quarter of new space and there is good logic behind that. The planning process is shorter, they have existing public transport solutions and a ready-made customer base to tap into – all of which reduces risk. As schemes get larger they can also attract more visitors and become regional destinations in their own right, which can bring additional benefits to the host city or town as well as the wider region,” said Justin Taylor, head of EMEA retail at Cushman & Wakefield.
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