ARTICLES LABELLED WITH TAG retail

The Czech retail market once again proved its appeal to retail brands, with 38 new arrivals last year. That is the same figure as in 2021 when the influx of 38 new brands was partly the result of the postponement of some entries due to the pandemic. These numbers represent a roughly 50% increase compared to 2019 (22 brands) and 2020 (25 brands), according to the Cushman & Wakefield analysis of the Czech retail market in 2022.

In the past 12 months, there were 154 buildings in Romania that received green certifications under the BREEAM or LEED standards, accounting for one-third of all buildings that were certified in the past 14 years, according to data from green building consultancy ADP.

Immofinanz has significantly expanded its retail portfolio in the 2022 financial year. As a result of acquisitions and completions, the portfolio has grown from 111 to 169 locations in ten European countries over the course of the year, with a carrying amount of approximately €2.3 billion (excluding S Immo). Rentable space increased by nearly 30% to approximately 1.36 million sqm.

Slovak construction company HSF System SK has completed the general delivery of two more shopping centres in Slovakia. In Kysucke Nové Mesto, which is located in the Žilina region, the shopping gallery Obchodná galéria Naša was opened to the public. In Košice, a new SIKO shopping centre was built.

From December 22 this year, customers travelling on the Wielkopolska Motorway will be able to make quick purchases in two Żabka stores located in motorway service areas, the so-called MOPs - Gnilec (the last rest stop before the German border) and Sosna (the first rest stop point after entering Poland from Germany). The new format includes the 9000th and 9001st jubilee stores. The new format is tailored to the needs of travellers, who can benefit from an extended range of hot snacks, coffee, and sandwiches or salads. 

According to the results of the survey conducted by Colliers among consumers from Bulgaria, Czech Republic, Hungary, Poland, Romania and Slovakia, respondents indicated that they would spend less or the same amount of money on food and gifts (50% and 74%, respectively) when compared to the pre-pandemic year 2019. Thanks to high inflation, the money will not stretch quite as far as in previous years. The survey also showed an increased awareness of the problem of food waste - reducing the amount of groceries bought for this reason was declared by Hungarians (24%), Poles (18%) and Romanians (16%).

NEPI Rockcastle, through its subsidiary, has acquired all the issued shares in the Forum Gdańsk shopping centre from a company ultimately owned by Blackstone-managed funds. The transaction encompassed the repayment of all the asset’s outstanding debt. Forum Gdańsk is a 63,500 sqm GLA shopping centre, situated in Gdańsk, the sixth largest city in Poland by population, with over 470,000 inhabitants.

Trei Real Estate just opened another retail park of its Vendo Park brand in Poland. It is located in Mielec, a small town of around 61,000 residents in the Podkarpackie or Subcarpathian voivodeship in south-eastern Poland. The new Vendo Park has a lettable area of around 7,000 square meters and is occupied by twelve retailers and a supermarket. On the whole, Trei invested c. €11.9 million in the property. As a result, the Vendo Park portfolio of Trei has just increased to a total of 42 retail parks, 32 of which are located in Poland while the others are in the Czech Republic and Slovakia.

High energy prices and rising inflation are affecting market conditions across Europe. According to economists' forecasts, the most difficult period will be the coming winter. However, Poland is in a more favourable situation despite rising inflationary pressures, as JLL experts argue in their latest report on the retail market in Poland for Q3 2022. According to Oxford Economics, Poland's GDP will grow by an average of 3.0% per year between 2022 and 2026, well above the average for the EU as a whole and the eurozone (1.8%). In addition, Poland is projected to see the greatest increase in retail spending until 2026. Oxford Economics also reports that retail sales, in real value terms, are expected to grow by 4.6% per annum until 2026, placing Poland among the top European countries.

How will the current macroeconomic situation affect investment activity and further development within individual sectors, from offices to industrial and logistics complexes to retail real estate? All this is shown in CBRE's latest analysis of the Czech commercial real estate market, which also provides an updated outlook for 2023.