3 Maja still in top 5

Katowice’s 3 Maja St. remains the fifth Polish costliest retail location for the third consecutive year, according to the latest Cushmand & Wakafield’s report „Main streets across the world”.

© City Hall of Katowice; 3 Maja Street and main entrance to Galeria Katowicka on the left
© City Hall of Katowice; 3 Maja Street and main entrance to Galeria Katowicka on the left

The report presents a global barometer of the retail sector, tracking rents in the world’s top 334 shopping locations across 64 countries including Poland. 3 Maja is listed among twelve the most expensive Polish streets. The research was conducted in June 2013. The main league table is drawn up by taking data for retail rents of standard main street unit which is defined as a unit with 150-200 sq. meters of sales area and a typical show window’s width of 6-8 meters.

3 Maja has kept its fifth position, however the annual rental growth declined by 3,4% when compared to 2012 and now the rent amounts to EUR 672 sq.m/year. All the twelve surveyed locations experienced the decline while the strongest yearly fall of rents was observed in Wrocław on Świdnicka St. (-8,9%, EUR 492 sq.m/year). Nowy Świat in Warsaw (-2,4%, EUR 996 sq.m/year) remains the most expensive street in the country.

In comparison to the last years’ editions of the report, 3 Maja did not change its position. However, the annual rent for one square meter dropped by 3,3 percent from EUR 717 in 2010 to EUR 696 in 2011. Rents remained stable (0,0% change) in 2012 and also amounted to EUR 696 per one square meter yearly. Previously, the street reached 38,3% annual rental growth rate in 2008, which was the best result for the country. That time 3 Maja was ranked fourth most expensive street in Poland where the annual rent reached EUR 780 sq.m/year. In 2007, the annual growth was 34,3% and the street was at the list of top 10 localizations with the strongest rental growth in Europe.

A trace of 3 Maja Street was marked out in the middle of 19th century between the present Market Square and the “Wolności” Square in the downtown of the City. From the very beginning, the street was occupied by expensive stores and a high society. 3 Maja is mostly built-up by three- or four-storey tenements. In the central part, the street borders upon Szewczyka Sq. where the new Railway Station and Galeria Katowicka were recently delivered. The City Hall of Katowice is currently conducting the renovation of 3 Maja.