Elektrownia Powiśle Positioning and Retail Mix
About the brand
Repurposing of the historic Powiśle Power Station as the centre piece for a 50,000 m2 mixed use development. The power station buildings will incorporate a 9,000m2 shopping arcade plus bars, restaurants and cafes operated by leading Polish and International operators.
White Star Real Estate and Tristan Capital Partners were keen to understand how to create a distinctive offer which can draw visitors away from Warsaw’s many large out of town malls.
The Challenge/Task
Identify a retail and leisure mix which will draw shoppers from across Warsaw
Understand how to exploit potential local workers and tourists
Identify the most suitable Polish and International operators
Estimate likely trading performance and rental income
WHAT WE DID
Undertook a field based review of competition to understand strengths, weaknesses and retail mix positioning opportunities
Assessed the potential benefits of adjacent attractions such as the Copernicus Science Centre, the Vistula riverbank and the University of Warsaw Library
Evaluated the potential value of local residents, students, workers and tourists
Used a gravity model to estimate the extent and scale of the retail catchment
Established a distinctive proposition for the development and identified domestic and international benchmark locations
Recommended the ideal tenant mix, floor space allocation and target Polish / International occupiers
Estimated turnover and rental income by merchandise category
Provided a generic leasing summary to introduce the scheme to target brands
The Result
Construction is underway and the retail opening is scheduled for March 2019. Brian Patterson, Chairman of White Star Real Estate, said, “
“We are confident that the redevelopment will be one of the most innovative and unique mixed-use projects in Europe. Located in the heart of Powiśle, it will be a new destination for living, working, shopping, leisure and entertainment.”