Retail space supply at 650,000 sqm in 2015

New retail space supply in Poland totaled nearly 650,000 sqm in 2015, according to Cushman & Wakefield’s latest report. Next year, the supply is to increase to 700,000 sqm. In 2015, new retail supply reached around 650,000 sqm, of which 85 percent (551,000 sqm) was delivered in traditional shopping centers and retail parks with the remaining 98,000 sqm opened in retail warehouses. Modern retail stock in Poland stood at 13.23 million sqm at year-end 2015, of which 73 percent or 9.67 million sqm was in 404 traditional shopping centers. Retail warehouses account for 18 percent or 2.4 million sqm of the country’s stock. Poland also has 47 retail parks offering nearly 1 million sqm of retail space and 13 outlet centers with 210,000 sqm, accounting for 7 percent and 2 percent of its total stock, respectively. As many as 23 new retail schemes were added to the market while extensions accounted for 27 percent of the total supply. The development pipeline includes around 700,000 sqm of retail space which is scheduled to come onto the market by the end of 2017. Some 450,000 sqm is expected to be completed in 2016, of which 55 percent will be delivered in the largest agglomerations, 40 percent in cities with less than 100,000 inhabitants, and the remaining 5 percent in smaller regional cities. The largest shopping centers under construction, to open in 2016, are Posnania in Poznań (99,000 sqm) and Galeria Metropolia in Gdańsk (34,000 sqm).