Colliers reports on Polish retail market in Q3 2016

Only a few small retail construction projects were delivered to the market in the last three months in Poland. At the end of Q3 2016, there was around 40,000 sqm of retail space under construction, with completion planned up to the end of 2017, according to a report by Colliers International summarizing the Polish retail market in Q3 this year. Colliers also reports that the number of new brand debuts was limited, while several retail chains have disappeared from the Polish market, including the Tallinder fashion brand, US gastronomy operator Dairy Queen, and Alma supermarkets. No new retail schemes of over 5,000 sqm GLA were completed during Q3 2016. Regarding smaller projects, the second stage in Galeria Radomsko was opened. Other retail schemes currently being modernized include Port Łódz, Galeria Krakowska, and Poznan City Center. The largest retail scheme currently under construction in Poland is Posnania (around 100,000 sqm GLA), which represents more than a quarter of the total 2016 supply. Other major shopping malls under construction include Wroclavia and Galeria Północna (Warsaw), both with around 60,000 sqm. The average retail vacancy rate in the eight largest urban areas was 3% at the end of June 2016.