Retail space in Warsaw Agglomeration at 1.62 mln sqm end-Q3
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At the end of Q3 2015, total modern retail space in the Warsaw Agglomeration stood at 1.62 million sqm with shopping centers being the most popular format (69 percent). Shopping center density per 1,000 inhabitants in the agglomeration reached 436 sqm, which is still less than the densities found in Poznań, Wrocław, the Tri-City and Łódź, a report by JLL consultancy showed.
Since January 2015, the modern retail market in the agglomeration has grown by 57,100 sqm The year's biggest project completed was the extension of Wola Park.
The vacancy rate in Warsaw Agglomeration amounts to 1.7 percent, which is still far below the average for cities above 200,000 residents (3.1 percent).
Monthly prime rents for one sqm in shopping centers grew to €105 - €120. Rents in retail parks stand at between €9 - €10, while on high streets they are around € 80 - €90 /sqm/ month.
Prime rents relate to a well located 100 sqm unit shop from the fashion and accessories category in the leading retail assets in capital city.
