New shopping centres to open in autumn

More than 440,000 m2 of new shopping centre space will be delivered in Poland by the end of 2013, according to data from global property advisor CBRE.

The company calculates that in the period September-November 2013, a total of 24 new schemes will be open in Poland, compared with 20 a year earlier, and that the amount of new shopping centre space due to come on to the market in the remainder of 2013 is twice the figure delivered in the corresponding period of 2012 (221,000 m2). According to CBRE analysts, that is because several very large developments located in the country’s biggest cities will come online later this year.

The schemes scheduled for completion in the remainder of 2013 include e.g. Galeria Katowicka (53,000 m2 of gross leasable area), Trzy Korony in Nowy Sacz (36,000 m2), Poznan City Center (60,000 m2), Riviera in Gdynia (46,000 m2) and Galeria Bronowice in Krakow (60,000 m2), as well as more than 10 smaller centres totaling between 5,000-10,000 m2, located in smaller cities.

In principle, new shopping centres should not be opened until they are at least 80-90% occupied, but this condition is hard to meet at the moment, particularly for schemes located in the big cities, CBRE analysts note.