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Retail parks in Bulgaria

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Retail parks in Bulgaria have experienced a boom in the last 2 years. The total stock of retail parks in Bulgaria for 2021 is 237,000 sqm concentrated in 25 projects. Tenant mix in retail parks varies depending on the size and type of the format.

Despite the fluctuating severity of the pandemic, rental rates remained stable in 2021 and were in the range of 6 to 10 euro per sqm per month. The same trend is valid for the service charge – between 1 – 1.5 euro per sqm. Colliers’ analysis showed that average vacancy levels increased from 7% to 12% year-over-year due to the newly completed projects.

Local investors are currently dominating with a market share of 91%. At the same time, retail parks are perceived as the most stable retail asset class, particularly during COVID-19. Retail parks remain well positioned for investment transactions in the near future.


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Retail parks in Bulgaria

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Related Experts

Dimitrinka Rakovska

Manager Retail Services | Bulgaria

Sofia

Dimitrinka is heading Retail Services agency in Colliers. For more than 14 years she has been having a key role in the department, providing consultancy and representation services for major projects such as: Sofia Ring Mall, The Mall, Mall of Sofia, Grand Mall Varna Burgas Plaza, Mall Plovdiv, Galleria Burgas, Galleria Stara Zagora, Jumbo Plaza, Retail Park Varna.

Dimitrinka has worked closely with companies in various industries and developed long-term relationships with most of the developers and retail operators on the Bulgarian and international market, such as GTC, Bluehouse, Danaos, Orchid Developments, Trinity Capital, Inditex, H&M, LPP Group, Fit Invest International, to mention a few.

 

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Adriana Toncheva

Senior Consultant | Bulgaria

Sofia

Adriana Toncheva joined Colliers in October 2008 as Market Researcher and member of the marketing team. Her primary responsibilities are data collection and analysis, processing and carrying out market research surveys, writing various real estate market reports. Adriana is the person to turn to for accurate and updated data and analysis regarding various topics, not limited to real estate. She supports internal clients with corporate presentations and reports, customized to their specific needs and requests. Among her major projects are the implementation of the Net Promoter Score program, Colliers Bulgaria Client Follow-up program and Integis. In 2014 she received Colliers Bulgaria Service Excellence Award for business support functions.

 

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