Articles in Retail topic
The rapid growth of e-commerce is unlikely to put an end to existence of physical stores. Both online and offline platforms will co-exist, becoming increasingly intertwined. However, in-store technology innovations will change shopper behaviours in shopping centres. These are the key findings revealed in the Retail Revolutions report by Savills.
Extensions to established shopping centres will be a significant driver of new floor space across Europe in the next two years, according to Cushman & Wakefield’s latest European Shopping Centre Development Report. 4.5 million sqm is expected to be delivered in 2017 and 2.3 million sqm in 2018. One-quarter of that will be attributable to the extensions of the existing shopping centres. In the Czech Republic extensions will make as much as 80%.
According to a summary of Q1 2017 results, NEPI made progress with planning and permitting for several developments and extensions, including those in Galati, Novi Sad and Ramnicu Valcea. Further to the receipt of certain approvals, Victoriei Office in Bucharest is expected to receive permitting for the internal fit-out during the next quarter, enabling tenants to start operations in the fourth quarter of 2017. Zoning and permitting for the Promenada Mall extension continue to experience delays.
Cushman & Wakefield has been appointed by CPI Property Group to continue as a property manager of two major shopping centers and one multifunctional complex in Central and Eastern Europe which have been recently acquired from CBRE Global Investors.
Colliers has been appointed by FID Group as the Property Manager of Slovanský Dům and by B.H.Centrum a.s. as the Property Manager of Millennium which forms part of the complex including the Marriott Hotel. Both buildings are prime mixed-use properties situated in the heart of Prague’s CBD.
The European Bank for Reconstruction and Development (EBRD) is participating in the acquisition of Żabka, one of Poland’s leading food retailers, with an equity investment of up to €25 million.
"The aggregate value of the investment involving several different investors is estimated at €150 million", said Marcus Wild, CEO of SES Spar European Shopping Centers, which will manage and own the newest shopping centre in Slovenia. This will grow in Šiška, the most densely populated district of Ljubljana, by the autumn of 2019. The construction work is already starting in June 2017.
After acquiring the Campona and Pólus shopping centres in Budapest, CPI Property Group has again entrusted CBRE to manage its new properties. CBRE has also been selected as the exclusive leasing agency for the two malls.
14 outlet centres operating in Poland eye the increasing competition which will force numerous of them to undergo qualitative changes, enhance their offer and improve operational performance. Along with increasing wealth of Polish consumers, the premium offer will grow in outlet centres, according to new report “Bargain hunting. Potential of outlet centres in Poland” released by Colliers International and IQS.
With an impressive 66% growth of retail sales per capita since 2004, Poland stands second to none in Europe. Over the past five years both the retail stock and the retail sales have been growing steadily at the level of 20% cumulatively, according to an analysis released by Cushman & Wakefield. Forecasts for the next decade show a further 40% growth of retail spending per capita, which demonstrates growing affluence of the Polish society.
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