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The City - November 2015

A new wave in retail properties

The traditional shopping centre market in Poland has already saturated. New projects are few and far between. The commercialization process has become longer and may take up to a few years. New times have come. We can see a wave of projects based on extension, refurbishment and remodelling of shopping centres. Mixed-use projects are becoming an alternative. High streets are gaining in meaning.  The Polish retail market is no longer a developing market; it has become a mature market – a change which means new rules of the game. 

Tenants are better educated, more demanding and aware of their strong position. When planning new investments, investors need to try and meet the future needs instead of copying the solutions of the past. Fitness clubs and dance schools are entering shopping centres. There are even ideas to organise a theatre or a philharmonic hall. The time for testing new ideas, also by retail chains, has come. The new challenges for retailers to face will be to implement omnichannel sales, introduce the 'click & collect' concept or 'same day' deliveries.

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