Get in touch

Get in touch

02 November 2017

Business Context

Repurposing of the historic Powisle 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

  • 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
Redevelopment Powisle Power Station

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

Result

Construction is underway and the retail opening is scheduled for March 2019.  

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 Powisle, it will be a new destination for living, working, shopping, leisure and entertainment

Brian Patterson, Chairman of White Star Real Estate