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Amsterdam Rotterdam
Utrecht The Hague
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high street shopping centre
retail warehousing
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OUTLOOK
www.cbre.nl
Economic conditions in the Netherlands are expected to improve only gradually. As such, consumer spending is
not to increase substantially in the months ahead. Perhaps the home furnishings sector will perform better,
benefiting from an improving housing market. Demand for retail space, therefore, will remain subdued, with a
take-up volume equal to or slightly higher than the figure registered in 2013. Parties still looking for retail space
are the usual suspects: Action- and H&M-like retailers in the lower segment, fashion brands mainly covered by
the Inditex Group and a few luxury retailers. Meanwhile, retailers such as high-end department store De
Bijenkorf and Primark in Amsterdam (store opening in 2015) are aiming for longer evening openings. They are
strong anchor tenants that manage to increase footfall in their vicinity. More retailers are expected to follow, and
longer evening openings are already practice in parts of subprime retail locations in Amsterdam, such as
Leidsestraat and Utrechtsestraat.
With a substantially higher turnover and increased investor appetite for portfolios and shopping centres, Dutch
retail investment has shown a picture which is fairly in line with the European one. Nonetheless, the Dutch
investment volumes are still below the levels observed before the crisis, and the greater part of transactions is still
for the account of Dutch investors. Yet, three deals of the Top 5 largest were concluded by foreign investors.
Some (opportunistic) foreign parties anticipating on improvement of the Dutch economy in the years ahead
and a possible value growth are currently looking for distressed or high-yielding assets. Significant in this
context is the recent market entry in the Netherlands of US based investor Mount Kellett, who acquired several
Corio shopping centres. Although Amsterdam is still not a core target such as London or Paris, its international
appeal is strengthening and this may also trigger foreign demand.
CONTACTS
For more information about this MarketView, please contact:
Ratih Bach
Senior Analyst
CBRE Research and Consulting
Gustav Mahlerlaan 405
PO Box 7971
1008 AD AMSTERDAM
t: +31 20 626 26 91
e: ratih.bach@cbre.com
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Global Research and Consulting
This report was prepared by the CBRE Netherlands Research Team which forms part of CBRE Global Research and
Consulting a network of preeminent researchers and consultants who collaborate to provide real estate market research,
econometric forecasting and consulting solutions to real estate investors and occupiers around the globe.
Disclaimer
CBRE B.V. confirms that information contained herein, including projections, has been obtained from sources believed to
be reliable. While we do not doubt their accuracy, we have not verified them and make no guarantee, warranty or
representation about them. It is your responsibility to confirm independently their accuracy and completeness. This
information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved
and cannot be reproduced without prior written permission of CBRE.
Krijn Taconis
Executive Director
CBRE Retail
Gustav Mahlerlaan 405
PO Box 7971
1008 AD AMSTERDAM
t: +31 20 626 26 91
e: krijn.taconis@cbre.com
Albert Hoogland
Executive Director
CBRE Asset Services
Gustav Mahlerlaan 405
PO Box 7971
1008 AD AMSTERDAM
t: +31 20 626 26 91
e: albert.hoogland@cbre.com
Erik Langens
Senior Director
CBRE Capital Markets
Gustav Mahlerlaan 405
PO Box 7971
1008 AD AMSTERDAM
t: +31 20 626 26 91
e: erik.langens@cbre.com