A company from Chariot platform, managed by Griffin Real Estate, a private equity investor operating in the real estate sector, signed an agreement with Auchan Poland to extend the lease of its six retail properties totalling 83,000 sqm. The lease agreement was signed for a period of over 12 years. The transaction is certainly one of the largest retail leases that has been closed in Poland.

The industrial real estate sector remains the least affected commercial real estate sector in Slovakia. In the second quarter, the market recorded solid leasing activity, reaching almost 120,000 sqm of industrial space. Cushman & Wakefield published its Q2 2020 snapshots for Slovakia’s office, retail and industrial sector.

GTC’s rental income suffered a €2 million decrease due to rent and service charge relief imposed by governments during the lockdown of shopping malls. Still, total rental and service charge revenues increased to €41 million in Q1 2020 from €39 million in Q1 2019. GTC presented its financial results at the end of Q1 2020.

The modern retail stock in Romania, consisting of shopping centres, retail parks and commercial galleries with a leasable area of ​​at least 5,000 square meters, has reached 3.96 million square meters and will exceed the 4 million sqm threshold until the end of the year, according to Cushman & Wakefield Echinox.

According to data from the Polish Council of Shopping Centers, footfall in shopping malls range from 62 to 73% when compared to last year’s numbers. The pandemic has changed the habits of Poles who are planning their shopping in a more thoughtful, cautious and safe way. In the new reality, small-format shops located close to home are attracting more visitors. By the end of May and after negotiations between owners and tenants had been completed, almost all shops in retail parks were operating. Some of these shops are now recording a turnover of 160% of pre-lockdown levels.

The drop in footfall numbers in the majority of shopping centres combined with a drop in turnover, as well as ongoing talks between tenants and shopping centre owners have caused a slowdown or even temporary suspension of development plans of some retail chains, especially those in the fashion sector. JLL summarised conditions on Poland's retail market at the end of H1 2020.

Penta Real Estate has successfully completed the sale of Bory Business Park project to the Karimpol Group development company. The land with a total area of 60,000 sqm is located in the new Bory district in Bratislava and was sold together with a building permit. The project allows the construction of retail space with the possibility of combining showrooms, offices and storage. Both parties have agreed that the transaction value will not be disclosed.

The opening of Colosseum Mall in Bucharest, initially planned for the end of 2020, has been rescheduled for 2021, considering the unpredictability of the business environment under the impact of COVID-19 pandemic.

20 years after opening its first shopping mall in Iași, Iulius is launching a new retail concept. Family Market is a concept that addresses the expectations and needs of people living in expanding residential areas. The first project of this type is proposed for Miroslava commune in Iași County and entails an investment upwards of €6 million.

According to Savills, the average spread between prime industrial and prime shopping centre yields across mainland Europe has converged for the first time in its historic series as demand for logistics and soars as a result of increased levels in e-commerce.