Retail Renaissance - Agnieszka Kolat, Head of Retail Investment, Poland

In our latest Retail Renaissance article, we caught up with Agnieszka Kolat, our Head of Retail Investment in Poland. Agnieszka shares her passion for nature and how it helps her manage stress and generate ideas. She also emphasizes the importance of convenience, flexibility, and the integration of real-life and digital experiences in the retail sector.   

Tell us something that people might not know about you?  

I’m an avid nature lover, finding joy and inspiration in spending time outdoors. It helps me manage stress and generate ideas. Despite a busy summer, I recently completed a challenging 50km hike along Lake Zurich and did some hiking in stunning Norway. They’re activities that highlight the importance of persistence and goal setting, qualities that are instrumental in my job, navigating the complexities of retail real estate investment. And of course, nature gives me pleasure and relaxation. 

Give us some key takeaways from the past month...

It’s been a busy summer, despite people taking breaks. We’re building on a promising first half of 2024. In Poland, 13 retail transactions worth just under €500 million were recorded - a 149% increase on the first half of 2023 and 16% over the five-year average. Our team successfully completed two deals in April and May, including the largest Polish retail transaction since 2019, with Cromwell Polish Retail Fund’s €285 million sale of six retail properties to a new investor in Poland, the Czech Star Capital Finance Group. So we’re seeing increased investor activity and key market players now re-evaluate their strategies. 

What 3 words come to mind when you think of retail in 2024?  

When it comes to retail, it all starts with the need for product, but for me 3 words of 2024 are:  

Convenience: This is a key driver for consumers these days. They shop whenever they want, 24/7, in various formats and they expect goods to be fully available. Retailers, owners, and managers must consider convenience in their strategies and daily activities. 

Flexibility: The ability to embrace various shopping channels and incorporate flexibility into lease agreements and daily management tools is crucial. Market players must quickly react to changing trends and the attention spans of shoppers to keep them engaged. This need for flexibility will likely result in mixed-use developments offering diversified income streams. 

Phygital: The integration of real-life and digital experiences is now a key trend as the sector strives to accommodate my two previous word choices! Phygital offers innovative investment prospects where, for example, a customer can order goods online and return them at a physical store. The blending of online and offline solutions provides the consumer with the most convenient way to shop. 

What opportunities excite you for the next 12 months? 

One exciting opportunity for the next 12 months is a potential momentum shift and higher investor interest in large, strategic transactions. Such transactions will give us valuable insights into market sentiment and indicate future trends. Despite existing risks, investor sentiment right now is more positive than in late 2023, supported too by expectations of further easing of monetary policy in the eurozone. 

And what’s in store for you this month? 

This month, I’m focused on live transactions and hopefully we can announce more retail investment closings soon. With investors looking to execute their goals for the year, it looks like September and the last quarter of the year will be busy. I’m also preparing for October’s ExpoReal in Munich. It’s a great chance to engage in conversations and hear investors' views. It’s a key barometer of investor sentiment and provides insights for 2025.