Total retail supply in retail parks exceeds 1 million sqm - DTZ

Retail parks accounted for 24 percent of new retail stock delivered in 2014 and 19.8 percent in 2013. In previous years retail parks’ share in new retail supply stood at 7-8 percent, consultancy DTZ wrote in a recent report. Last year’s new supply of 110,000 sqm put the total stock in retail parks above 1 million sqm. Still, as much as 73 percent of the total retail space supply is located within shopping centers, which currently offer 9.3 million sqm. Last year, their share in new space delivered was 67 percent. Currently, there is 780,000 sqm of retail space in the pipeline, scheduled to be delivered in 2015 and 2016. Over the course of 2014, 466,000 sqm of retail space was added to the market within 28 new schemes and eight extensions.