Retail parks GLA in Poland reach 1 mln sqm

The total stock of retail parks in Poland totals 1 million sqm GLA (approximately 90 commercial facilities). The 250,000 sqm GLA of retail parks are located in cities of up to 100,000 inhabitants. The volume of transactions of retail parks in the cities from 2010 to 2015 amounted to €82 million. It constitutes 30 percent of the general number of retail project transactions in these locations, according to the report “Small cities, big shopping?”, issued by international advisory company Colliers International and the global research company GfK.

“Investing in retail parks has more strengths than threats. We estimate that 2016 will be a record year in terms of the volume of transactions in Poland since 2010,” said Andrzej Miazga, Senior Associate, Investment Services, Colliers International.

Due to their specification, retail parks offer far lower rental rates and other leasing costs than traditional shopping centres. The rates in agreements signed for 5 to 7 years, range from €5 to €15 and differ slightly depending on the sector and the unit size.

„The attractiveness of the retail park for tenants is determined by five factors. These are: location in the close proximity of intensive traffic with good access and visibility, strong tenant-mix, overall rental costs lower than in a traditional shopping center, experienced developer and strong food operator in the park or nearby,” said Katarzyna Michnikowska, Senior Analyst, Research and Consultancy Services at Colliers International.e.