Retail space supply at 650,000 sqm

New retail space supply in Poland totalled nearly 650,000 sqm in 2015, according to Cushman & Wakefield’s latest report. As many as 23 new retail schemes were added to the market while extensions accounted for 27% of the total supply. In 2015, new retail supply reached around 650,000 sqm, of which 85% (551,000 sqm) was delivered in traditional shopping centres 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% or 9.67 million sqm was in 404 traditional shopping centres. Retail warehouses account for 18% 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 centres with 210,000 sq m, accounting for 7% and 2% of its total stock, respectively. The development pipeline includes around 700,000 sq m of retail space which is scheduled to come onto the market by the end of 2017. Some 450,000 sq m is expected to be completed in 2016, of which 55% will be delivered in the largest agglomerations, 40% in cities with less than 100,000 inhabitants, and the remaining 5% in smaller regional cities. The largest shopping centres under construction, to open in 2016, are Posnania in Poznań (99,000 sqm) and Galeria Metropolia in Gdańsk (34,000 sqm).