Czech Republic: three hundred shopping centres
Roughly three hundred shopping centres of various sizes operate already in the Czech Republic. This year´s research by Incoma GfK shows this. Expansion of shopping centres virtually stopped in the…
Roughly three hundred shopping centres of various sizes operate already in the Czech Republic. This year´s research by Incoma GfK shows this. Expansion of shopping centres virtually stopped in the local market last year and significant recovery cannot be expected also this year, according to experts.
The most numerous in the local market are small shopping centres with leasable area from 5.000 to 19.999 square metres; there are roughly 170 of them. They are followed by commercial parks, the number is estimated at approximately 50 by Incoma GfK. The area of these shopping complexes, which usually stand and cities´ outskirts, ranges from 5.000 to 9.900 square metres. There are 23 middle-sized commercial parks with leasable area of 10.000–19.000 square metres. There are 30 middle-sized traditional shopping centres with the area of 20.000 – 39.999 square metres. Nine large shopping centres with 40.000 – 79.000 square metres have been built in the Czech Republic. There are ten large retail parks (area of more than 20.000 square metres) so far. Very large shopping centres with the area of more than 80.000 square metres, which include the Letňany shopping centre for example, are four in the local market so far.
Shopping centres have been the phenomenon in the domestic commerce since the end of the 90´s. However, they are now experiencing hard times as one third of their visitors decreased their spendings due to the economic crisis. Many shopping centres recorded decline in sales last year; and some shopping centres had to face not only loss of customers but also leaving of tenants. Expansion of shopping centres nearly halted in the domestic market last year. “Excluding two projects completed in Liberec in early spring 2009, which are more a result of delayed work rather than scheduled completion, so only one large shopping center OC Forum in Usti nad Labem was completed,“ František Diviš from Incoma GfK said earlier. Substantial recovery of the market, according to experts cannot be expected this year either. Apart from expections, e.g. Galerie Harfa in Prague, new projects have been shifted or suspended, property and investors are waiting for further development of situation. Construction of so called “retail parks“ has also slowed down, they are less extensive shopping centres on the outskirts of smaller cities. Opening of only eight shopping complexes is expected this year, according to the consulting firm Cushman & Wakefield. A year ago, developers were announcing plans to open at least double the number.
Earlier this year, there were 2044 fashion shops, 774 catering establishments and 637 shoe and leather goods shops in the shopping centres. Also shops with jewellery, watches and gifts (524), consumer electronics and computer (480) and food groceries (442) have numerous representations.
Formats and size types of shopping centres in the Czech Republic
| Size type | Leasable area in square meters | Number of projects |
|---|---|---|
| Very large | more than 80.000 | 4 |
| Large | 40.000 to 79.999 | 9 |
| Middle-sized | 20.000 to 39.999 | 30 |
| Small* | 5000 to 19.999 | approx. 170 |
| Large retail parks | more than 20.000 | 10 |
| Middle-sized retail parks | 10.000 to 19.9999 | 23 |
| Small retail parks | 5000 to 9999 | approx. 50 |
| Outlet centres | more than 5000 | 2 |
- - including hypermarkets with small commercial passages
Source: Hypermarket&Shopping Center 2010, Incoma GfK