Silesia soon to exceed 1 million sqm of retail stock

According to the latest report by CBRE concerning shopping centers, the Silesian agglomeration currently offers almost one million square meters of modern retail stock and is the second largest retail market in Poland after Warsaw.

The agglomeration of Silesia currently offers 951 000 sq. meters of modern retail stock (Warsaw – 1,33 million sq. meters), including the latest completions of the Silesia City Center extension (19 000 sq. meters), nearly 8 000 sq. meters of gross leasable area in the M1 Zabrze new phase and 6 000 sq. meters in the Tarnowskie Góry shopping center.

Another 133 000 sq. meters of gross leasable area is currently under construction, including two large schemes – the Europa Centralna shopping center in Gliwice with 67 000 sq. meters to be delivered by the end of this year, and Galeria Katowicka to be completed in the second quarter of 2013, with 50 500 sq. meters of gross leasable area.

According to CBRE experts, the completion of Galeria Katowicka in 2013 will mark a threshold on the Silesia retail market, but instead of competition with Silesia City Center they expect coexistence between the two schemes similar to that of Złote Tarasy and Arkadia in Warsaw. Prime rental rates in the best shopping centers in Silesia are currently at EUR 45 – 50/sq.m/month.