The FINANCIAL -- Supply of quality retail space is limited, which drives up rents, according to data published by CB Richard Ellis (CBRE).
Rents for retail space in shopping centres or premises at high streets in Warsaw cost PLN 88-400 (€22-101) per m² per month. In Krakow, rents reach up to PLN 311 (€77.5) per m², while in Gdansk and Wroclaw monthly rental costs are around PLN 200 (€49.8) per m². Rents in smaller cities are significantly lower as rental rates for retail space in Bialystok range from PLN 12 (€3) to PLN 71 (€17.7) per m² per month.
Polish retail complexes can be divided into shopping galleries where stores carry luxury and premium brands and rents are at the top of the range and shopping centres whose market position is not so strong, where exclusive brands are not available. Warsaw, Krakow, Wroclaw and Gdansk have the largest numbers of shopping galleries.
Poland is the only Central and Eastern European country which did not suffer significantly during the economic crisis and remains an attractive destination for international retail chains, according to CBRE data. Strong demand for retail space translates into high rental rates and, consequently, significant tenant turnover. Approx. 32% of the major global retail chains are present in the Polish retail market and the country can be one of the major targets for their expansion in the coming years.
Related Stories
