A new report from Savills indicates that an integrated omnichannel strategy will lead the way as the European retail sector returns to a new normal.

The SES-operated shopping centre Weberzeile located in Ried, Upper Austria, now generates its own environmentally friendly solar power, which is also the case at SES shopping centre Murpark in Graz. Last week, SES Spar European Shopping Centers commenced operation of a 520-kWp photovoltaic rooftop installation, which produces approximately 500,000 kilowatt-hours of clean electricity per year for its own use and reduces CO2 emissions by 128 tons. The photovoltaic system installed atop Weberzeile is the largest to be mounted by SES to date and is the benchmark for the installation of solar power systems on the roofs of other SES shopping centres throughout Austria.

Retail parks have been the biggest beneficiaries of the structural retail changes in Poland over the last ten years. Their number has doubled and increased their share in total retail stock by 4 pps. In H1 2020, developers completed nearly 148,000 sqm of modern retail space in large scale projects (GLA>5,000 sqm). Of this new supply, 67% was delivered in the shape of eight new retail parks and three extensions of existing schemes. Almost 450,000 sqm of GLA is still under construction with initial completion dates set for 2020 and 2021. Retail parks account for nearly 26% of this volume. JLL and Trei Real Estate Poland summarised the situation regarding these projects at the end of H1 2020, and outlined the development prospects for this commercial real estate sector in Poland.

Austrian developer Supernova has laid the foundation stone for a €70 million project aimed at the expansion of the Supernova Ljubljana Rudnik shopping centre in Ljubljana. Upon the completion of the project, Supernova Ljubljana Rudnik will become the biggest shopping centre in Slovenia.

Fashion House Group has appointed retail veteran Cornelia Nicolae to the position of Retail Operations Director in Bucharest. In the newly created role, Cornelia will be responsible for launching the Group’s new flagship development, its second in Bucharest, while continuing to drive footfall and sales at its established outlet centre in the capital.

Czech real estate developer RC Europe has opened its third retail park in Romania, following an investment of €9 million. The retail park, operating under the Nest brand, is located in Oradea, occupying approximately 6.500 sqm GLA. Construction works on the project started in October 2019.

Polish company Scallier is developing a new chain of retail parks in small and medium-sized Romanian cities under the Funshop Park brand. By 2022, 6 facilities with a total leasable area of ​​40,000 sqm will be completed. Work is currently underway to prepare further investments. Scallier, based in Poznań, has been operating on the Polish market for nearly a decade and specializes in investment management in the sector of small and medium-sized commercial facilities.

Trei Real Estate GmbH has opened its 18th retail park under the Vendo Park brand in Poland. The retail property is located in Solec Kujawski in the Kuyavian-Pomeranian voivodship. The town of around 16,000 residents is located a two-hour drive south of Gdansk. The new Vendo Park provides a lettable area of around 3,000 square metres and 97 parking spots. The property is almost fully occupied. Its tenants include KiK, Sinsay, Martes Sport, RTV Euro AGD and Hebe, among others. Overall, Trei invested c. €3.8 million here.

Developer Prime Kapital and investment partner MAS Real Estate have opened 33,000 sqm GLA Dâmboviţa Mall shopping centre in the city Târgoviște, 80 km northwest of Bucharest.

The first half of the “pandemic year” was most difficult for retail players, considering the lockdown during the emergency state, but the recovery up until July has been better than most market participants were initially expecting, according to Colliers International’s market report for the first semester of 2020. In the industrial & logistics area, it has been business as usual during the pandemic, with some seeing big spikes in activity, but a significant pipeline of speculative developments and a competitive market are tilting the balance in favour or tenants.