Summary of Krakow retail market

Krakow shopping centres are changing, which is reflected, among others, in the average vacancy rate at a stable level 5%. Galeria Plaza, which is going to be reconstructed and transformed into the outlet centre, is systematically getting empty. Currently, only a few major tenants are operating here, as well as an entertainment complex with IMAX Cinema City. The opening of Serenada shopping centre, which will eventually be connected to the Krokus shopping centre, causes a temporary state in both galleries, including a temporary increase in vacant space in Krokus. Empty space after the Praktiker store in M1 is still not rented, and Solvay Park is working on creating a complementary offer to Zakopianka. Ideas for the empty premises are also implemented by the new owner of the Bonarka shopping centre - NEPI / Rockcastle. In Galeria Bronowice, on the other hand, empty premises are leased temporary to tenants the representing entertainment and recreation sector, and in Futura Park Modlniczka a gastronomic zone is being built on over 1,000 sq m. We observe an average level of tenants’ rotation in Krakow shopping centres, an example of which is taking over the premises of the Matras bookstore by Mole Mole. The market remains in balance.