Town-centre regeneration has been a buzz word for UK developers for several years, but the trend is now spreading further across Europe.
New research from Jones Lang LaSalle reveals that the development of in-town shopping centres as part of a much larger regeneration initiative is now dominant in France and Germany, as well as the UK. It is also popular in The Netherlands where planning is restrictive.
Italy is currently the only Western European country that is not pushing ahead with in-town shopping centre developments. In-town development in the country is stunted because of its protected town centres and the relative immaturity of the market.
Across central Europe, the trend is more changeable because of large variations in the maturity of the retail market.
In Poland the focus is on town-centre schemes in smaller towns that do not yet have a shopping centre. Development in Hungary is also focused on in-town shopping centres.
However, in the Czech Republic most new schemes are being built on edge-of-town or out-of-town locations.
One trend is underground shopping centres, particularly in Russia, where two are under development in Moscow.
