Warsaw, October 14, 2016 – In Kraków, consumers can do the shopping in 15 retail schemes totalling 548,000 sqm GLA of modern retail space. For every 1,000 inhabitants there is 528 sqm of shopping, service and gastronomy units space. On average there are 66,670 people per one shopping centre. Average purchasing power of Kraków inhabitants equals annually PLN 55,630 per square meter of shopping centre – according to Colliers International publication ”Shopping centres in agglomerations Q2 2016 | Kraków”.
During the January 2015 - June 2016 period there were no new completions of shopping centres in Kraków. Actually, the biggest investment under construction is Serenada centre (approximately 42,000 sqm GLA). The biggest shopping scheme in the region is still Bonarka City Center totalling 91,000 sqm GLA and 270 units.
„The current Kraków retail market is developing mainly through modernizations, extensions and re-modeling of existing shopping centers. The opening of CH Serenada, integrated with the existing CH Krokus, will bring the biggest change to Kraków market and will be one of the largest retail schemes in the city. It is also worth to mention Galeria Plaza which is planned to change its function into outlet center,” said Katarzyna Michnikowska, Senior Analyst, Research and Consultancy Services, Colliers International.
In Kraków’s shopping centres there are about 1,400 units, what means that one shop/service or food point serves on average 714 inhabitants. The most numerous groups of tenants are chains from fashion (26%), services (14%) shoes, bags and leather (8%) sectors.
Among lease transactions in Kraków market announced in the end of last year and in the first half of 2016 there should be mentioned - H&M (about 2,300 sqm), Carry (about 1,800 sqm), Mango (about 1,000 sqm) in Serenada, Sphinx (about 450 sqm) in Bonarka, English Home (about 215 sqm) in Galeria Bronowice and Medicine (about 200 sqm) in Galeria Krakowska.
The average vacancy rate at the end of 2015 reached 3,8% and remained stable with slight decrease (3.3% in June 2016). The highest rental rates (at the level of EUR 43-35 sqm/month for a 100-150 sqm fashion unit) are close to rents in other cities of similar size and inhabitants‘ purchasing power.