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Polish retail market performs well: retail parks dominate new openings as vacancy rates fall
In Q3 2024, the Polish retail market expanded by another 116,000 sqm. With average retail vacancy rates in the largest Polish cities falling and tenants posting rising turnover levels, predictions of the imminent decline of shopping centres in Poland have proven premature, says BNP Paribas Real Estate Poland in its latest report “At a Glance: Modern Retail Market in Poland, Q3 2024”.
Q1 2024: Investors continue to target retail parks
The latest report from BNP Paribas Real Estate Poland titled “Modern Retail Market in Poland” looks at Polish retail in the first quarter of 2024. Retail parks continue to attract strong investor interest and remain the most popular retail format on the development market. Meanwhile, new brands are entering the Polish retail market, which is also seeing the rise of AI-powered solutions.
A record investment transaction in the Polish retail sector
Cromwell Property Group has completed the sale of its six shopping centres, including CH Janki, to a Czech-based investment fund that is committed to expanding its commercial property portfolio in Poland. BNP Paribas Real Estate Poland advised on the transaction.
Klockownia comes to Pasaż Górczewska. 1,100 sqm of edutainment space
In March 2024, edutainment centre Klockownia signed a lease for a unit in Pasaż Górczewska, at ul. Górczewska 218. Its current format will be extended to include an interactive construction play area spanning as much as 1,100 sqm of attractions for children. The venue is scheduled for opening on 1 June.
How technological advances and new work models will reshape the commercial property market?
A 4-day work week is becoming an increasingly hot topic. Although in Poland it still appears to be a thing of the future, recent years have shown how quickly labour market trends are changing. AI is also broadly expected to have a significant effect on the workplace. How will all of this impact the commercial real estate market?
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