Small scale retail schemes are doing well, despite the Covid-19 pandemic. Check the latest JLL research on the retail parks and convenience centres sector
September 10, 2020
One of the very strong trends which we are observing is the increasing importance of convenience shopping
Anna Wysocka,Head of Retail Agency
JLL and Trei Real Estate Poland present unique white paper dedicated to the small-scale retail projects. The report consists of the summary and market analysis, key trends as well as the direction for further development of the retail parks and convenience centres.
Small scale retail assets on the rise
130,000 sqm of GLA was delivered to the market in H1 2020 across the regional and traditional retail parks and convenience centres.
Supply of modern retail space in Poland’s retail parks and convenience centres totalled 2.6 million sqm in June 2020.
Approx. 171,000 sqm of retail park and convenience centre space is at the construction stage (34% of all supply currently under development).
Retail new normal
The smallest assets are those where the customer base is to be rebuilt the fastest during Covid-19 pandemic. Why? They have started to win back customers more dynamically and still outperform the general footfall trends. The need to shop safely is paramount and, with a premium placed by customers on suitable social distancing, large stores with limited common areas are more favoured as they are situated in more spacious environments, most frequently found in retail parks.