CBRE: The Polish market added 86,500 sqm of retail space in Q1 2024

In Q1 of this year, 86.5 thousand sqm of retail space arrived on the Polish market, 96% of which in the form of parks, according to a report by CBRE. In total, modern shopping space in Poland occupies 14.12 million sqm, 27% of which is located in small cities.

"In the first three months of 2024, the retail market in Poland saw 13 new developments, 11 of which were retail parks. The largest completed were OTO Park Koszalin, with an area of 38,000 m2, Park Handlowy Pyskowice, covering 8,000 m2, and Aura Park Przeworsk, with over 6,700 m2. The activity of developers is mainly focused on retail parks with up to 10,000 m2, mainly in small towns. This is a continuation of the trend observed in previous years. However, a lot is happening on the market not only in the area of parks. We are seeing an increasing number of revitalisations, recommercialisations and rebranding of large shopping centres," said Mariusz Majkowski, director in CBRE's retail space department.

There is 530,700 sqm of new retail space under construction, of which almost half (48%) will populate small towns (up to 100,000 inhabitants) and the majority (76%) are retail parks, CBRE reported.

The number of international brands on the Polish market is also increasing. Between January and March this year, Made by Society from Romania, Jack & Jones from Denmark and Kamalion from Spain appeared in our country.

Base rents in the best shopping centres remain stable at 100-130 euro/m2/month in Warsaw and 40-60 euro/m2/month in other major Polish cities. Base rents for retail parks average 9-12 euro/m2/month, CBRE reported.

Source: CBRE and ISBnews