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The City - April 2012

Tenants’ time

In 2011, the shopping centre space stock in the Polish market amounted to nearly 9,000,000 sqm. Traditional shopping centres constituted 93 percent of the total retail space amount, whereas the share of factory outlet centres in the volume of modern retail space was only 1 percent. We are checking which developers decide on this niche branch in the industry and whether we may expect an increase in the outlet centres' share in the Polish retail market.

A number of factors contribute to the success of a shopping centre: a well-chosen tenant-mix, location and other, such as the new function of retail schemes, that is providing their customers with entertainment. A cinema, a bowling club, a games corner for kids are already the standard, therefore asset managers move one step forward, bringing libraries and art galleries into their centres in order to attract as many customers as possible.

The success of a centre is, to a great extent, caused by its tenants. What is important for tenants, apart from a good offer aimed at the right customer, is the premises in which they operate. We check how does the specificity of designing retail premises look like.

Speaking about tenants – they are the cornerstone of the commercial real estate industry; without demand there will not be supply. For example, the supply of modern office space in the 8 largest agglomerations in Poland is around 6,000,000 sqm; interestingly, many new buildings are still under construction. We decided to ask industry experts about their forecasts and about challenges that the tenants in the office, warehouse and retails sectors will soon have to face.

MIPIM is the event that does not need any further presentation, one simply must be there. In this issue you will find a relation from this largest commercial real estate fair.

CONTENTS

FACE TO FACE       
New technologies and innovations in real estate
In the interview with Haedley Dean and Monika Rajska-Wolińska, Colliers International, we present the directions of changes in the real estate market influenced by new technologies and innovations.....…………36

OUTLET CENTRES
Outlet center does not mean worse
The factory outlet centre market in Poland seems to be an insignificant segment of the industry when compared to the shopping centre one. However, appearances can be deceptive...……………38

SHOPPING CENTRES
Entertainment centres as a distinctive feature of shopping centres
Added value such as offering ways of spending free time, that is cultural, sports or entertainment offer, increasingly often decided about uniqueness of a shopping centre...…………42

OPINION COLUMN
The influence of marketing activities on footfall in centres
In the previous era, sport journalists agreed beforehand on the attendance on a football game they would state in the even coverage to avoid discrepancies. Nowadays they no longer have to do it, since stadiums and all developed world have been thoroughly metered. Including shopping centres as well……….46

ARCHITECTURE
The specificity of designing showrooms in shopping centres
The most important values and ideas of the brand are the pivotal points around which the customers' attention should be focused. The atmosphere in the retail store seems to be the key issue. .. ……….47

EVENTS
MIPIM 2012 – the fair in grand style
Cannes is a rather special place. It is good for signing agreements in the spotlight and for creating atmosphere for further talks and decision-making ........50

OPINION COLUMN
The possibility of terminating a tenancy agreement by the tenant
Tenancy as a continuous legal relationship may be terminated after the expiry of a notice period, if terminated by notice, or the lapse of the term for which it was concluded. ……….52

TENANTS
The largest challenges for tenants in the commercial real estate sector in 2012
We decided to check what challenges await tenants at commercial schemes, asking the opinion of experts in the industry: DTZ, Savills, CBRE and Colliers International Poland.……….53

NEWS
……………………56

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