Skip Ribbon Commands
Skip to main content

News Release

Warsaw

​New shopping centres and new brands in Warsaw


Advisory firm JLL summarizes the situation on the retail market in the Warsaw Agglomeration[1] at the end of Q3 2015.

At the end of Q3 2015, total modern retail space in the Warsaw Agglomeration stood at 1.62 million sq m with shopping centres being the most popular format (69%). Shopping centre density per 1,000 inhabitants in the agglomeration reached 436 sq m, which is still less than the densities found in Poznań, Wrocław, Tri-City and Łódź.

"We are registering growing developer activity in Warsaw and its surroundings. Retail stock in Q3 grew by an additional 31,000 sq m which was generated by Royal Wilanów and the extensions of Wola Park and Factory Ursus. Furthermore, in Q4, new Warsaw projects like MODO Domy Mody in Włochy district, Ferio Wawer in Wawer and Plac Vogla in Wilanów have been completed. In total, approx. 104,000 sq m of GLA is currently under construction, with the newly-launched Galeria Północna, the newest investment by GTC in Białołęka, being the largest project. In addition, more schemes are in various planning stages", says Anna Bartoszewicz-Wnuk, Head of Research and Consulting at JLL.

Since January 2015, the modern retail market in the agglomeration has grown by 57,100 sq m The year's biggest project completed was the extension of Wola Park.

Take-up

"New brands select prestigious locations and Warsaw remains the number one choice for retailers making their debut on the Polish market. In Q3, new international brands entering the Warsaw market included Origins in Galeria Mokotów, Paul in Warsaw Financial Center, Fuddruckers and Dairy Queen in Wola Park. In addition, in Q4 Forever 21 declared its intent on entering the Polish market. The company will open its store in Galeria Północna," says Anna Wysocka, Head of Retail Agency at JLL.

Vacancy rate

The vacancy rate in Warsaw Agglomeration amounts to 1.7%, which is still far below the average for cities above 200,000 residents (3.1%).

Rent

Monthly prime[2] rents for one sq m in shopping centres grew to €105 - €120. Rents in retail parks stand at between €9 - €10, while on high streets they are around € 80 - €90 /sq m/ month.

[1] Warsaw Agglomeration is inhabited by 2.54 million residents from the following districts and towns: Warszaw, Pruszków, Piastów, Raszyn, Nadarzyn, Brwinów, Michałowice, Konstancin Jeziorna, Lesznowola, Piaseczno, Błonie, Izabelin, Łomianki, Ożarów Mazowiecki, Stare Babice, Grodzisk Mazowiecki, Milanówek, Podkowa Leśna, Jabłonna, Legionowo, Nieporęt, Halinów, Sulejówek, Kobyłka, Marki, Radzymin, Wołomin, Ząbki, Zielonka, Józefów, Otwock and Wiązowna.

[2] Prime rents relate to a well located 100 sq m unit shop from the fashion and accessories category in the leading retail assets in capital city.