CPI Property Group (CPIPG) has summarised the first half of the year in terms of the commercialisation of managed retail facilities on the Polish market. Nineteen new tenants came on board, while 60 renewed their contracts and remained in their current locations.
CPI Property Group owner-manages 23 retail facilities in Poland – 6 shopping centres (two independent: CH Ogrody in Elbląg and Galeria Orkana in Lublin, as well as the Vivo! chain from the Immofinanz portfolio) and 17 retail parks (CityMarket chain – 6 locations and STOP SHOP chain – 11 locations). The retail properties are located in 20 regional cities across Poland. They have a total area of more than 272,000 sq m and a value of EUR 437 million.
In the first half of 2023, the Leasing Retail team, led by Agnieszka Baczyńska, signed 79 contracts for a total area of nearly 22,000 sq m. Almost 7,000 sq m were contracts with new tenants who opened their shops in 4 STOP SHOP retail parks: Kętrzyn, Legnica, Siedlce, Zielona Góra and 2 CityMarket facilities – in Rembertów
(2 shops, including a new grocery operator) and Zamość on Hrubieszowska Street. New brands will also appear in shopping centres: in Vivo! Lublin – 4, in Vivo! Krosno and Vivo! Stalowa Wola – 2 each, and in Vivo! Piła – 1. The Ogrody Shopping Centre has been enriched by 3 new tenants.
More than 15,100 sq m are renegotiated contracts. In the Ogrody Shopping Centre in Elbląg
and in Vivo! Krosno, 11 tenants each remained in their current locations. The next centres in terms of the number of concluded contracts are Vivo! Lublin and Vivo! Stalowa Wola – 7 each, Vivo! Piła – 6 and Galeria Orkana in Lublin – 4. In the STOP SHOP chain, 11 prolongations were signed in 7 cities (Łowicz, Legnica, Kętrzyn, Lublin, Mława, Świnoujście, Żary), and in the CityMarket chain – 2: in Rembertów and Radom.
“The results achieved prove that CPI Property Group’s retail portfolio, diversified in terms of formats and locations, performs well in the market and provides opportunities for individual brands to pursue their development plans. Our strengths also include effective management and the prospect of stable cooperation. We are not only the owner, but also the asset and property manager of our retail properties. We continuously build their value, increasing their attractiveness for tenants and customers. We also optimise our operating costs, which the economies of scale allow us to do, and above all we focus on long-term relationships with our partners,” comments Agnieszka Baczyńska, Head of Leasing Retail at CPI Property Group Poland.
