Pan-European Footfall 2017 - 2018

REAL ESTATE
PAN-EUROPEAN
FOR A CHANGING WORLD
FOOTFALL ANALYSIS
Key global and lifestyle cities 2017-2018
P R O P E RT Y D E V E LO P M E
TRANSACT
C O N S U LT I
VA L U AT
P R O P E RT Y M A N A G E M E
I N V E ST MREENTAT IML A N A G E M E
Real Estate
Real Esta
for a changing
for a changing wor
world
CONTENT
Macroeconomics ............. 04 Amsterdam ........................... 30 Helsinki ....................................... 46 Warsaw ....................................... 62
Synthesis .................................... 06 Athens .......................................... 32 Lisbon ............................................ 48 Zurich ............................................. 64
Barcelona ................................. 34 Munich ......................................... 50
London ........................................ 10 Brussels ...................................... 36 Oslo .................................................. 52 Methodology......................... 67
Paris ................................................. 14 Budapest .................................. 38 Prague .......................................... 54 Results by country ......... 68
Madrid ......................................... 18 Copenhagen ........................ 40 Rome .............................................. 56 Contacts ...................................... 70
Milan ............................................... 22 Dublin ............................................ 42 Stockholm ............................... 58
Berlin .............................................. 26 Frankfurt.................................... 44 Vienna ........................................... 60
2 BNP Paribas Real Estate RETAIL

FOREWORD
BNP Paribas Real Estate is delighted to For the past five years, regular
present our first fully comprehensive footfall counts have been
Pan-European Footfall Analysis undertaken in prime cities across
covering key global and lifestyle cities. Germany. Even if the results may be
Changes in retail over the last decade influenced by local circumstances
are no longer cyclical, but are now structural. As rapid and should not be interpreted as the "pure truth",
technological and structural developments occurred they indicate the general trends very well.
within the retail sector, many feared the internet would Significant differences in the number of passers-by
kill our High Streets and shops. However, this is not the have implications for customer conversion- and
case. It has merely liberated them and encouraged the with it sales-potential.
creation of new retail models. Changes in pedestrian frequency over time are
For many International Retailers, the major cities interesting as well. If they show a consistent
continue to demonstrate their appeal and our High pattern, as it is a clear sign that the structure and
Street Footfall Analysis emphasises the desire of the importance of the location is changing. Notably
consumer to embrace physical retailing, especially as in times when retailers have to adapt and improve
new models and space formats of successful retailers their concept and strategy, such qualitative
continue to rapidly evolve. aspects are particularly relevant.
Our study has been co-ordinated across 23 global and Our clients rely on this information together
lifestyle cities throughout Europe, which was activated with other data and examinations to formulate
on Saturday the 10th of June 2017 between the hours their expansion strategy and to identify
of 14:00 and 16:00 or peak hours, taking into account particular locations of interest.
the cultural trading differences of cities. Each city was It is therefore a significant advantage to our
divided into “Mass-Market to Upmarket” and “Luxury” clients that the Research team of BNP Paribas Real
categories and between 3 and 10 streets were selected, Estate has undertaken a coordinated European-
depending on scale and population of the city. wide study. From my point of view the results
We hope you find this Report useful, as many of our are very interesting and will provide a better
active and expansive International Retail clients have understanding and comparison of all markets and
specifically asked for this style of analysis. Should you different developments across the major European
require more granular data, then please do not hesitate cities. I believe this report will supply our clients,
to contact us and we will direct you to our various colleagues and market participants an interesting
Research Departments. read and will elicit inspiration for the future.
Larry YOUNG Wolfgang SCHNEIDER

Head of International Investment Group Head of Research - Germany
RETAIL BNP Paribas Real Estate 3

PAN-EUROPEAN
ECONOMIC OVERVIEW
Europe’s recovery is beginning at a poignant time, marking the tenth anniversary of the credit crunch,
the start of a sequence of events that led to the Global Financial Crisis (GFC) of 2008/9, and the So-
vereign Debt Crisis of 2012. Geopolitical context and Brexit reinforce uncertainties in a medium-term.
Samuel DUAH Over this period Europe’s retail market has changed markedly. For retail the last ten years are essen-
Head of Real Estate Economics tially a story about the struggle to create value amidst falling demand whilst adapting to profound
at BNP Paribas Real Estate disruptive change in the distribution chain; from producer to the consumer.
Growth returns
GDP growth average 2017-2018 to the European economy
% Europe’s slow economic recovery since 2009 is now strengthe-
ning. This is evident by the 2.2% quarterly annualised growth rate
3 seen since mid-2016, well above its trend growth. It highlights the
fact that European economic growth, at this point, is outperfor-
ming other developed economies and the medium term outlook
2
looks promising. Although growth has been broad-based some
countries, admittedly in Southern Europe, are yet to regain their
1 pre-crisis level of economic output (Italy and Portugal). Spain
though, has seen some of the fastest growth in recent quarters,
0 helping it to surpass its pre-crisis level. However, the most im-
portant thing here is that domestic demand, supported by both
Poland
Ireland
Hungary
Spain
Czech Republic
Sweden
Netherlands
Germany
Denmark
Portugal
Austria
Finland
Switzerland
France
Belgium
Greece
UK
Norway
Italy
consumer spending and investment demand, appears to be a

key driver for growth in most countries; a development that is
positive for the retail trade.

Household Disposable Income
The role of inflation

%
in modern
6 Poland
retail pricing power

4 France
2 Italy
0 Spain
-2 Germany
Post GFC, consumer demand fell, whilst sup-
-4 Sweden
ply of goods and services was slow to adjust.
-6 UK
Low wage growth but real household

For Europe this meant flirtation with deflation
(and for most part low level of inflation). The 10 11 12 13 14 15 16 17 18
income is growing
low level of inflation has remained a key fea-
ture of the European economy since 2009.
Headline inflation at the European level is
currently at 1.5% p.a. remains marginally
below what central banks deem desirable.
Although this represents a significant impro- Despite economic growth it is likely that consumer demand is only at an early stage
vement on the recent past, it remains low in of gaining the sort of momentum it had pre 2007. For Europe this is tied to the
historical context. employment situation because increased consumer demand is underpinned by job
Low inflation means the intense price com- growth and, household income and wage growth.
petition, traditionally a ground for difference Eurozone unemployment rate peaked at 12.1% in 2013. It has subsequently
between retailers, no longer functions in the improved to stand at 9.1%. Despite this the story remains mixed across countries.
same way. With low demand, price compe- The lowest rate outside the Eurozone can be found in the Czech Republic at 2.9%
tition still exists only because overtly raising and in the Eurozone in Germany at 3.0%, with UK recording a historical low of 4.3%
prices makes traditional retailers stand out in recent months. Overall we believe the downward trend will continue over the
for poor value for money, a situation made come years, backed by the improving economic picture.
more acute by the pricing clarity offered by Notwithstanding the falling unemployment rate, real wage growth across Europe has
information technology. remained weak at 0.5%. The rational for this is multifaceted and appears transitory.
In an environment of low demand and in- This implies that in the medium term we are likely to see these factors soften and
creasing online sales, retailers struggle to in- meaningful real wage growth appearing. The boost to household real income will
crease margins. Instead increasingly retailers support consumer spending. It is more people in work plus and wage growth that is
are competing on non-price differences and the backbone for consumer confidence and increases in retail sales. If maintained,
generating margins by re-organising their retailers can look forward to a more predictable and positive macro environment
operations. than that experienced over the last ten years.

SYNTHESIS
Foreword by the authors. This Pan-Eu-

ropean Footfall Analysis is aimed at
providing a one-off “picture” of the
prime streets in 23 key global and
lifestyle cities. Pedestrian traffic is
one of the prime indicators of retail
strength, albeit not sufficient in its
own right to be a fully determinant
driver. The fundamental measure of a
successful retail area is the conversion
of pedestrian flows into purchases. In-
deed, in some areas of lesser footfall
such as for example luxury precincts,
high store turnovers can occur despite
the lower flows.
Europe TOP 30
FOOTFALL
Footfall, Mass-market Prime Streets (pedestrians/hour)
MIXED * MASS TO UP MARKET *
TOP MASS-MARKET
Ranking dCity Location Class Footfall counting
13,560
HIGH STREETS
1 London Oxford Street
2 Munich Kaufingerstraße 12,832
3 Madrid Calle de Preciados 10,292
4 Frankfurt Zeil 10,280
5 Paris Av. des Champs Elysées 10,277
10,216
United Kingdom, Germany, Spain and France compete
6 Barcelona Av. del Portal de Angel
10,132
for the top 5 positions in the European Top 30.
Whilst London leads the way with a record value of 13,560 7 Barcelona Passeig de Gracia
pedestrians per hour, the survey highlights the strength 8 Madrid Gran Vía 9,956
9,252
of the main German regional capitals, with Munich and
9 London Regent Street
9,196
Frankfurt being in the Top 5.
Notably, Spain with Madrid (3rd) and Barcelona (7th) has 10 Madrid Calle Fuencarral
a total of five streets in the Top 10. 11 Dublin Grafton Street 8,802
8,796
France closes the Top 5 with the iconic Avenue des
12 Vienna Mariahilfer Straße
8,598
Champs Elysées, just edging ahead of Frankfurt and Ma-
drid with around 10,300 pedestrians per hour. 13 Milan Corso Vittorio Emanuele II
14 Zurich Bahnhofstraße (North) 8,586
15 Dublin Henry Street /Mary Street 8,505
16 Stockholm Drottninggatan 8,430
17 Stockholm Hamngatan 8,342
18 Rome Via del Corso 8,152
19 Paris Boulevard Haussmann 8,143
20 Vienna Kärntner Straße 8,114
21 Copenhagen Amagertorv 8,094
22 Prague Na Príkope Street 8,008
23 Prague Václavské Námestí 7,932
24 Amsterdam Kalverstraat 7,888
25 Munich Theatinerstraße 7,604
7,494
Source: BNP Paribas Real Estate Research
26 Copenhagen Østergade
27 Berlin Tauentzienstraße 7,095
28 Copenhagen Købmagergade 6,964
29 Brussels Rue Neuve 6,772
30 Berlin Kurfürstendamm (East) 6,609
*
The Top 30 includes the following categories: 1-Mass-to up-market Prime Streets
2 - Mixed Prime Streets (offer stretching from mass-market to luxury)

Structure of downtown retail cores
A correlation links the footfall to the spatial structure of city core areas.
Where cities present a single retail core, focused on 2 to 3 prime
streets, highest numbers are achieved on these streets (Munich, Du- Destination cities by International
blin, the Scandinavian cities, Prague and Zurich for example). Inversely, due
to their large catchment areas, London, Berlin and Paris do not have a
Overnight visitors 2016 (million)
single core but rather have multiple clusters; hence they achieve a record London 19,06
footfall on their two iconic and most visible streets while more “modest” Paris 15,45
traffic – nonetheless good performances for retailers – is achieved for the Istanbul 9,16
remaining clusters. 8,36
Source: Mastercard Global Destination Cities 2017

Barcelona
8,36
Transport hubs and urban regeneration play main role as well in heavy
Amsterdam
8,17
footfall figures.
Milan
7,09
Prime streets located near transport hubs -like Oslo and Helsinki- take
Rome
6,42
advantage from the flows of these hubs. Urban regeneration creates
Vienna
6,11
not only an improved shopping environment, but also rejuvenates
Prague
5,51
the market supply by attracting new retailers and investors. Warsaw,
Vienna and Lisbon have recently experienced such outcomes. New retail Dublin
Role of tourism
schemes develop flows as well, they can even shift the retail focal point
as seen in Amsterdam.
Alongside the major metropolitan areas, a

group of smaller cities boast a worthy po-
sition in terms of flows. The cities include
for example Vienna, Dublin, Zurich and
Stockholm which feature in the Top 20 of
mass-market prime streets.
The local economic and cultural character of
these towns has a significant impact on these
numbers. However, tourism clearly stands out
as a key driver of footfall, all the more so as
counting was undertaken in June, when tourism
enters the peak periods and sunshine hours
are at a maximum in Scandinavia.
Indeed, there is a direct correlation
between the Top 10 Foreign Overnight
visitors in Europe and the footfall.
Rankings indicate that, in addition to
the “big names” in absolute terms (i.e.
London, Paris, Barcelona or Milan), a
group of smaller European cities has
recorded noteworthy volumes in visi-
tor attendance over the 2009-2016
period, namely Prague, Amsterdam,
Vienna and Dublin.
FOOTFALL - TOP LUXURY
HIGH STREETS
Europe TOP 20
In the luxury high street sector, the Top 5 figures are
recorded by France, Spain, UK and, a step behind,
Denmark, (all achieving over 7,000 pedestrians per
hour). The top five streets are “iconic” walkway pre-
Footfall, Luxury Prime Streets (pedestrians/hour)
cincts which enjoy a high degree of tourist activity. MIXED * LUXURY *
In addition, they are not “pure” luxury as their offers
cover the entire range from mass-market to luxury; Ranking dCity Location Class Footfall counting
10,277
hence the heavy footfall is made up of a full extent of
1 Paris Av. des Champs Elysées
10,132
customer profiles both local and visitors.
Genuine luxury prime streets are dominated by Italy: 2 Barcelona Passeig de Gracia
Rome’s Via Condotti which leads to Piazza di Spagna is 3 London Regent Street 9,252
the top luxury spot in terms of footfall.
4 Copenhagen Amagertorv 8,094
7,494
Here, the survey indicates two clear categories of
luxury precinct: 5 Copenhagen Østergade
- Areas located on the way to a major tourist site (castle, 6 Rome Via dei Condotti 6,545
museum, etc.) benefit from major tourist flows in addition 7 London Old Bond Street 5,564
5,003
to high-profile regular clients. These locales record the
8 Rome Via del Babuino /Piazza di Spagna
4,744
highest footfall after the Top 5. For example, Kohlmarkt
(Vienna), Pohjoisesplanadi (Helsinki), Bahnhofstraße - 9 Vienna Kohlmarkt
South (Zurich) and Pařížská Street (Prague). 10 Zurich Bahnhofstraße (South) 4,064
3,738
- Luxury precincts that are more remote from heavy
11 Helsinki Pohjoisesplanadi
3,376
flows. These locations such as Avenue Montaigne (Paris),
Boulevard de Waterloo (Brussels), Andrassy út (Budapest) 12 Stockholm Biblioteksgatan
and Voukourestiou Street (Athens) tend to be the “chic” 13 London South Molton Street 3,298
2,932
addresses for very high-net-worth customers – both local
14 Milan Via Montenapoleone
2,814
and international; hence a lower footfall is to be expected.
This does not translate into lower turnovers; it is usually 15 Prague Pařížská Street
2,746

the contrary. 16 London New Bond Street
17 Madrid Calle Serrano 2,384
18 Frankfurt Goethestraße 2,194
19 Oslo Nedre Slottsgate 2,056
20 Paris Rue Saint-Honoré 2,042
*
The Top 20 includes the following categories: 1-Luxury Prime Streets
2 - Mixed Prime Streets (offer stretching from mass-market to luxury)

Unparalleled variety and creative placemaking
define London’s retail scene
T
he London retail market continues to defy second most visited city in the world attracting
expectations of a significant post Brexit 19.06 million foreign visitors in 2016.
retail slowdown. The capital’s international Whilst the currency discount from Brexit ins-
appeal as a top shopping destination and pired devaluation has undoubtedly attracted
its position as a prominent cultural and educa- some opportunistic retail tourism, it is the un-
tional centre ensure that visitor numbers remain rivalled retail offer of the West End which pro-
high and sales values grow. London remains the vides major allure. - Purchasing power, GFK 2016 with UE 42=Base 100
- Overnight international visitors 2016, Mastercard
Sources: City population 2016, BNP PRE Research,
- Metropolitan region population 2015, Eurostat
Global Destination Cities Index 2017
Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
City Metropolitan region Visitors (million) (per capita) - In € (per capita) - Index
8.67 13.84 19.06 27,146 198.6

LONDON
Regent’s Park
JOHN LEWIS and HOUSE OF FRASER
MARYLEBONE
Department Stores
HIGH STREET 1,656 13,560 OXFORD STREET
1,194 CHEAPSIDE (*)
Paddington Railway Tottenham
and Tube Stations SELFRIDGES Court Road Tube
REGENT STREET
Department Store
9,252 3,514 LONG ACRE
SOUTH MOLTON STREET 3,298 2,746
Marble Arch Tube Bank Tube
St Paul’s
Covent Garden Piazza
NEW BOND STREET
Cathedral
Picadilly Circus
Hyde Park London Bridge
OLD BOND STREET 5,564
Tube
FORTNUM & MASON
Department Store
HARVEY NICHOLS London Eye
Knightsbrigde Tube
Department Store Buckingham Palace
HARRODS Department Store 708 SLOANE STREET
Westminster
PETER JONES Cathedral
Department Store Rent €/sqm/month Footfall (pedestrians per hour)
KING’S ROAD 1,802 1,781
Sloane Square Tube Day of count : 10.06.2017
OLD BOND STREET
From Mass Market to Up Market
1,119
©BNPPRE Research - D&A

OXFORD STREET Mixed (Mass Market to Luxury)
Luxury
REGENT STREET 916 (*) Cheapside - Countings potentially impacted
downward by Rapha Nocturne race circuit
Prime rent without key money for a store unit 0 500 1 000 m
Exchange rate £/€: 1,1341 - Q3 2017
2,746
Regent Street, Kings Road Bond, Sloane and South A
and Marylebone High Street Molton Streets
The UK - London luxury B C
pas de données footfall
Regent Street continues to attract Bond Street remains Footfall / hour
Ne
international retailers seeking flagship the global luxury street
w
Bo
A- BURBERRY 21-23
stores. TheNewCrown Bond Street
Estate’s placema- in London. Whilst some
nd
Str
B- CHANEL 159 New Bond alsoStreet
D
king of the street draws consu- of the sky high premiums
E ee
t
C- LOUIS VUITTON 17/20 New Bond Street
mers and traffic free events (Summer witnessed a few years ago have
D- RALPH
Streets, LAUREN
NFL) have 1 New Bond
ensured varietyStreet
in the retailing reduced, sustained international demand has ensured
experience.
E- CARTIER 175-177 New Bond Street that upward pressure still exists for the best units. Cha- F
G
The Kings
F- TIFFANY &CORoad remains Chelsea’s25 Old main retail Street
Bond destina- nel and Louis Vuitton have been the traditional drivers of
tion.
G- PRADA It has benefitted from initiatives from
16- 18 Old Bond Street the Cadogan footfall. Recent additions include jeweler Tasaki, Chloe and
Estate, with areas such
34asOldDuke of York Square being Alaia. Sloane Street continues to provide a platform for large
H
H- GUCCI Bond Street
used for events which help generate footfall. Occupier format stores but generally benefits from seasonal trade. Recent
demand remains strong and vacancy rates stood at upsizes were made by Fendi and Hermès, and Burberry have
4.8% in Q3 2017. signed to relocate to Chelsfields K1 development. A flurry of
Marylebone High Street, one of the most prestigious recent activity was observed on South Molton Street, a street
pitches, has benefitted from deliberate placemaking which has always been a little cyclical in terms of occupational
as well – the Howard de Walden Estate has transfor- demand; rents have grown recently.
med the area into a retailing and leisure location which
appeals to both tourists and residents. Rents have re- A BURBERRY D RALPH LAUREN G PRADA
corded years of strong rental growth. B CHANEL E CARTIER H GUCCI
C LOUIS VUITTON F TIFFANY & CO.


Oxford Street, Long Acre and Cheapside
Oxford Street records the highest the presence of Seven Dials to the north
13,560
Footfall / hour
footfall in our survey. Its world leading and Covent Garden to the south ensures
department stores such as Selfridges an edgy mix.
and John Lewis attract tourists and Cheapside continues to thrive as the primary
domestic shoppers alike. The street area for the City. Because of the surrounding shopper
continues to attract global retailers recently seeing demographic (high percentage of financial professionals),
Reserved, Simit Sarayi and Jurlique set up shop. Whilst retail provision is mass- to up-market (Hugo Boss, Ted
the eastern end continues to improve with impending Baker, Massimo Dutti). The low footfall in comparison to
opening of Crossrail, the western area around Bond Street the other areas reflects that it is really a weekday retail
station has seen rents grow; vacancy is lower at 4.8%. location as fewer people are in the area at the weekend.
In Long Acre, & Other Stories and Amorino have recently
opened. Whilst it tends to attract mid-market retailers,
H
F
D
C G
A B E
treet
Oxford S
A SELFRIDGES E NEXT
B FOREVER 21 F HOUSE OF FRASER
C DISNEY STORE G RIVER ISLAND
D DEBENHAMS H TOPSHOP
Combining innovative concepts and unrivalled
diversity, Paris is a worldwide city for retailing
B
enefitting from a greater area of 12 million Europe for Sunday opening and has generated
inhabitants, Paris supports a huge number additional sales for retailers. Visitor numbers
of shops (about 62,000 stores) and boasts are showing positive signs of growth in 2017,
a multiplicity of high street retail clusters. a trend that is to continue with Paris hosting
In addition to local demand, a major driver is the Olympic Games in 2024. Demand from new
tourism as Paris is the second1 most visited entrants is vibrant across all activities who often
city in terms of foreign visitors in Europe. The test concepts through "pop up" stores. There is
creation of ZTI (International tourist zones) also strong entrant demand from the food and
allows the city to match rival destinations in beverage sector seeking space in Paris.
- Purchasing power, GFK 2016 with UE 42=Base 100
Mastercard Global Destination Cities Index 2017

2.20 12.09 15.45 28,541 208.8

1

PARIS
St-Lazare Railway
ST-LAZARE PARIS Shopping Center Station, Metro and RER Rent €/sqm/month
1,833
Charles de Gaulle - PASSAGE DU HAVRE LE PRINTEMPS and GALERIES LAFAYETTE
Arc de Triomphe Department Stores AV. DES CHAMPS ELYSÉES
Etoile Metro, RER Shopping Center
1,083
CHAM AV. DES 8,143 BD HAUSS
AVENUE MONTAIGNE
MANN
PS EL 10,277 625
YSEE
S
BOULEVARD HAUSSMANN
Opera
714 2,042 RUE S

Prime rent with key money for a store unit
E AIN
IGN
LE FORUM DES HALLES
T -HO
Concorde
TA
ON
Footfall (pedestrians per hour)
NOR
Square Shopping Center
.M E
Chatelet - BHV
AV
Day of count : 10.06.2017
From Mass Market to Up Market Les Halles Department Le Marais district
Metro, RER Store
Mixed (Mass Market to Luxury)
RUE
DE R
Louvre Museum
IVOL RUE
Luxury
I 2,468 BOUDES FR
BD S
4,790 RGE ANC
0 250 500 m
Orsay Museum
OIS S
A
Eiﬀel Tower
INT-
GER
Notre-Dame
MAI
Champs de Mars
2,856
Cathedral
N
Park Hôtel de Ville
LE BON MARCHE
Department Store Saint-Michel Bastille Square
Metro, RER
2,142
ES
ES
ENN
BEAUGRENELLE
4,334 DE SEVR
DE R
Shopping Center
RUE

RUE Luxembourg
E
5,504
ERC
Garden
OMM
DU C
Montparnasse
Railway and Metro
RUE
Stations
Avenue Montaigne Rive Gauche (Left Bank)

and Rue Saint-Honoré Major streets situated on the
Left Bank balance renewal of
Near the Champs Elysées, Avenue Montaigne is the the retail mix with maintaining
n front of Long- premier address for luxury in Paris and worldwide.

The street attracts very high-profile clients so conse-
the atmosphere that the Left
Bank is known for.
quently a reduced footfall. Prestigious stores include Boulevard Saint-Germain, Rue de Sèvres
Armani, Dior, Chanel, Fendi, Jimmy Choo, Louis Vuitton, and Rue de Rennes have greatest attraction
nt HonoréGucci, Valentino, Versace and Saint Laurent. whereas Rue du Commerce has a more vibrant
Honoré Rue Saint-Honoré is the 2nd most sought-after district cluster.
nt Honoréplace for upscale and luxury brands, especially Recent transactions in the area include Artling,
nt Honoréin its western part. The street features the Balibaris, Collector Square and Vanessa Seward.
nt Honorérecently opened 2nd Vuitton flagship at the
2,042
e Saint Honoré
corner of Place Vendôme, Balenciaga, Brio-
nt Honoréni, Coach, Diptyque, Dolce & Gabbana, A C
nt HonoréGoyard, Furla, Fendi, Longchamp, Marc B
D E
Jacobs and Guerlain.
F
A & OTHER STORIES E TOM FORD G Footfall / hour
B F
Ru
VALENTINO COACH eS
ain
t-H
C G
ono
LONGCHAMP EMPORIO ARMANI ré
D FENDI H GOYARD H

Rive Droite (Right Bank) Avenue des Champs Elysées
Boulevard Haussmann is world The 1.9 km iconic shopping avenue attracts the highest
famous due to iconic flows. It is home to mass-market retail flagships as well
department stores, Galeries as to exclusive venues (Cartier, Louis Vuitton, Le Fou-
Lafayette and Printemps, quet’s restaurant). It also includes a wide spectrum with
mps Elysées (Mau- complemented by a mass-
market offer (H&M, Zara, C&A, Uniqlo).
cinemas, cafés and restaurant, car showrooms (Mercedes,
Renault), fashion stores and varied activities (Adidas, Nike, Sephora, M.A.C,
8 With the refurbishment of spectacular Forum Fnac, Monoprix, Disney). With the announcement of Apple and Galeries
des Halles mall now complete, Rue de Rivoli Lafayette to open in 2018, the battle for available space is fierce.
es Champs-Élysées
prepares for a new event with the up-coming
s Champs-Élysées A D

re-opening of the high-end Samaritaine LOUIS VUITTON TIFFANY & CO.
B E
. des Champs-Élysées
department store, an attractive 19th century SEPHORA FIVE GUYS
s Champs-Élysées
C F
building currently under redevelopment; as a
GUERLAIN CHANEL
. des Champs-Élysées
result, the area attracts new-comers seeking a
s Champs-Élysées
high profile location. G ZARA
s Champs-Élysées
Rue des Francs-Bourgeois / Le Marais pitch Ave
nue H ABERCROMBIE & FITCH
s Champs-Élysées
thrives by welcoming “affordable luxury” des
Cha
mp
brands looking for new premises at attractive sE
A
lys
C
ées
rent levels. A noteworthy trend is the opening
B
10,277
D
of genuine luxury stores, especially in cosmetics,
F
with Chanel and Diptyque moving in.
E G
H
Footfall / hour
Experiencing buoyant times,
Madrid’s prime streets recompose and expand
S
pain’s improved economy with a better Increased appetite from national and interna-
labour market and consumer spending tional retailers, is leading to redevelopment in
is energising downtown retail. Vigorous core areas and in some cases being extended
tourism is also boosting sales: 50.3 million further like Serrano, Salamanca district and
passengers arrived at Barajas airport in 2016 Gran Vía Street located in the Center. New
(+7.7 % vs 15i) and 5.2 million foreign visitors precincts such as Arenal, El Carmen or Azca are
in 2016ii (2nd most visited city in Spain) with evolving, the latter having grown significantly
i - Source www.airport-business.com, ii - Source: Mastercard Global Destination Cities Index 2017
U.S.A, UK, France and Germany as visitors’ main with the entries of Decathlon, Mango, Bershka
countries of origin. and the largest Zara worldwide (6,000 sqm).
3.17 6.39 5.24 18,372 134.4

MADRID
Footfall (pedestrians per hour) ABC SERRANO
CALLE DE JOSE ORTEGA Y GA

Shopping Center
696 SSET
Luxury EL CORTE INGLES
CALLE
Department Store
0 200 400 m
FUENC
SERRANO 52 MAN
Rent €/sqm/month PLATEA Department Store
255
ARRAL
2,384
CALLE DE PRECIADOS Food market mall
Serrano Metro
240
1,608
CALLE SERRANO
CALLE DE GOYA
MERCADO DE
CALLE DE ORTEGA Y GASSET 220 SAN ILDEFONSO
Food market National
EL JARDIN DE SERRANO
9,196
Prime rent without key money for a store unit
Archaeological Museum
Shopping Center
EL CORTE INGLES
SERRANO
MERCADO SAN
CALLE
Department Store
ANTON Food market
9,956 GRAN
Retiro Metro
VIA
Callao
Metro
Puerta de Alcala Arch El Retiro Park,
Gran Via
10,292
Glass Palace
CALL IADOS
PREC
Metro

E DE
Puerta del Sol

Metro
EL CORTE INGLES
Department Store Puerta del Sol square,
Touristic district
Calle de José Ortega y Gasset Calle Serrano

Building on genuine exclusive positioning, elegant José Ortega y In Salamanca district, Ser-
Gasset Street has proved a select address for high-wealth regular rano stands out as a key
clients, therefore a reduced but focused traffic. business and retail avenue.
Vacancy is low and its prestigious operators comprise Dior, Chanel, The retail spectrum is
Jimmy Choo, Escada, Loro Piano, and Valentino. After a high level large, with luxury repre-
of request from luxury brands to establish operations in Madrid, a stabilisation in senting 20% of the offer on a perimeter
demand may be seen in the next couple of years. positioned between Alcalá and Goya/Hermo-
696
A E
silla streets, and Don Ramón de la Cruz to
CARTIER BULGARI José Ortega y Gasset streets.
B DIOR F ESCADA On-going renovation is occurring on the high-
C G
end section between Alcalá and Jorge Juan
JIMMY CHOO HERMES
D H
streets. Mass-market offer occupies the re-
Footfall / hour TIFFANY & CO. CHANEL maining stores, and a segment from José
Source: BNP Paribas Real Estate Research Ortega y Gasset to Juan Bravo is under re-
generation too.
Vacancy is limited and recent ope-
nings comprise the first city-centre Ikea
A
C E
in Spain (2,500 sqm), Mango (2,000 sqm),
Hugo Boss, Carrera y Carrera, new stores
B
Calle de José Ortega y Gas of El Corte Inglés, and a Loewe flagship
D G
set
H
(1,000 sqm) after their store extension at n°34.

Gran Via, Preciados, Fuencarral and Goya Streets
The Centre district provides a sqm), Adidas (1,800 sqm), Five Guys and Ale-Hop. A FIVE GUYS
B
mass-market offer (90% of the A famed walkway, Calle Preciados is highly visited
BURGER KING
stores) stretched over five due to magnets such as Mediamarkt (3,800 sqm)
streets which concentrate most and El Corte Ingles Department Store among C NIKE STORE
of Madrid’s high street retailing others; hence the highest rental level in Madrid D

ZARA
E
over 500+ stores. Gran Vía has undergone (€255/sqm). Fuencarral Street differentiates on
LEFTIES
extensive transformation which has strengthened
F
a young and “alternative” fashion position (i.e.
its role as a key destination due to powerful hipster and trendy brands) with recent opening PRIMARK
flagship stores. It is also a popular leisure and including Decathlon (2,400 sqm), Scalpers, Guess, G H&M
H
tourist area across night and day, mixing cinemas, Puma, Birkenstock and H&M.
ADIDAS
theatres and restaurants in addition to its Located in Salamanca district, Goya Street is
complete fashion offer. the other place in Madrid for a family retail offer.
Newcomers are Primark (12,400 Current availability is very limited and often require
a considerable premium to be paid to gain tenancy.
9,956
A B C E
D F G
Gran Vía
Footfall / hour
H
Milan, global fashion capital, deeply
influences retailing worldwide
T
he 2nd largest metropolitan area in Italy every year, Milan is one of the most cosmopo-
by population, Milan is considered Italy’s litan cities in Europe.
top financial hub. It is the capital of the The city is internationally recognised as one of
country’s most thriving region, Lombardy, the most influential global fashion lifestyle ca-
which with 10 million inhabitants, is Italy’s lar- pitals which has recently reinforced its position,
gest GDP contributor (10% of total GDP). by hosting the Universal Exposition (EXPO) in
With millions of tourists and business visitors 2015 attracting more than 20 million visitors. - Purchasing power, GFK 2016 with UE 42=Base 100
1.35 4.29 8.17 25,708 188.0

MILAN
VIA
D EL
LA S
PIG
VIA
2,027
A
Parco Sampione Park
MO
Sforza Castle
NTE
NA
POL
EON
2,932
E
Cairoli
Metro
5,330
La Scala Theater
San Babila
Metro
II
UELE
LA RINASCENTE
MAN
VIA
RIO E
Department Store
TO
GALLERIA VITTORIO EMANUELE II
DA
O VIT
NTE
CORS
Shopping Passage
Day of count : 10.06.2017 Duomo Metro and
8,598
From Mass Market to Up Market Tramway Stations Duomo
Rent €/sqm/month
6,562
Mixed (Mass Market to Luxury) Cathedral
Luxury VIA MONTENAPOLEONE 500
Palazzo Reale
250
0 100 200 m

Novecento Museum
Museum CORSO VITTORIO EMANUELE II
165
INO
TOR
VIA DANTE
VIA
2,932
Via Montenapoleone and Via della Spiga
Via Montenapoleone is a core destination for luxury and
premium brands. Its quality retail offer means the street sees
limited vacancy and rapid re-letting periods. The street Footfall / hour
A
hosts numerous iconic fashion brands such as Gucci,
B
Valentino, Rolex, Bulgari, Prada and Hermès; it
C
attracts both flows of tourists and local high-wealth regular
customers for its unique offer and for fashion and design events.
apoleone,Via
16della Spiga is part of “Quadrilatero della Moda”, Milan’s
apoleone,high-end
14 high street district and it connects Via Manzoni to main
apoleone,Corso
12 Venezia Avenue.
apoleone,Amongst
9 all streets within the "Quadrilatero", Via della Spiga is the only D
apoleone, 5
pedestrian street offering a unique shopping experience.
apoleone,Shoppers
5/7 feel like they are on a fashion runway surrounded by well-renowned
E
national
apoleone, 6 and international brands such as Tiffany & Co., Dolce & Gabbana, Tod’s,
apoleone,Prada
2 and Moncler. F
G
Vi
a
A E
M
on
CARTIER ETRO
te
B F
na
H
po
LA PERLA GUCCI
leo
C G
ne
HERMES PRADA
D OMEGA H ARMANI

Corso Vittorio Emanuele II, Via Dante and Via Torino
A
Corso Vittorio Emanuele II retail redevelopment and repositioning
FURLA
B
is a prime mass-market retail with major institutional investors
destination in Italy and completing investments and acquisitions. CARPISA
Europe. Via Torino ranks as one of the most C NADINE
D
It benefits from a high level famous mass-market retail destinations

TISSOT
E
of footfall anchored by one of Europe's major in Milan. Stretching along a 700- sqm-
department stores, La Rinascente, and a long circuit, it features a thorough retail MAX&CO
high number of major fashion retailers such offer, including brands such as Zara, F BENETTON
G
as Zara, H&M and Foot Locker. The street Nike and Mango all located in the most
H
ZARA
H
shows a very limited vacancy rate and strong attractive section of the street, next to
DIESEL
demand for quality space. Major national and Piazza Duomo.
e II
international retailers target the pedestrian nuel
E ma
Corso for flagship stores and competition rio
to
is fierce to secure the best retail premises. o Vit
8,598
rs
Co
G
Furthermore, the nearby Piazza del Liberty will
F
E
host the first Apple Store in Milan city center.
Via Dante stands out as an important mass-
market pedestrian precinct which connects
the crowed Piazza Duomo central square D
Footfall / hour
A
to the much visited Castello
Sforzesco Castle. Via Dante, with
circa 70 stores (OVS, Sephora, Geox) B
is currently undergoing substantial C
The most favoured choice in Germany for market
entrants and “pop-up” stores
B
erlin is Germany’s main shopping des- across the municipal area. But this is something
tination. No other German city is more that retailers actually consider a major advan-
cosmopolitan or attracts greater numbers tage, because the diversity enables them to
of tourists. Nevertheless, in the German address specific target groups. One clear-cut
footfall ranking, Berlin’s shopping streets are in sign of the dynamism of the retail scene here
midfield placing only. The reason for this is the is that since 2013, Berlin-Mitte has registered
wealth of different precincts spread broadly 600 lettings and openings. - Purchasing power, GFK 2016 with UE 42=Base 100
3.52 5.07 4.94 19,990 146.2

BERLIN
Berlin Zoo
Zoological Garden ,
Footfall (pedestrians per hour) Aquarium
Railway Station, Rent €/sqm/month
320
Metro and S-Bahn
From Mass Market to Up Market STILWERK TAUENTZIENSTRASSE
Mixed (Mass Market to Luxury) Department Store BIKINI BERLIN
240
Kaiser Wilhelm Shopping Center
Luxury KURFÜRSTENDAMM
Memorial Church
120
0 200 400 m NEUES KRANZLER ECK EUROPA-CENTER
Shopping Center Shopping Center ROSENTHALER STRASSE
T
6,609 7,095 AUENTZ
IENS
Uhlandstrasse
TRA
Metro
KARSTADT S SE
AMM
Kurfuerstendamm
RSTEND
KURFUE
Department Store
1,414
Metro
KADEWE Bahnhof Wittenbergplatz
Department Store Metro
Hackescher Markt District

ROSENTHALER STRASSE Weinmeisterstrasse
NEUE SCHOENHAUSER
Metro
STRASSE
HACKESCHE HÖFE
2,050
Retail Passage
3,762 ALEXANDERPLATZ
GALERIA KAUFHOF
Rent €/sqm/month
320
Monbijou Park
Department Store TAUENTZIENSTRASSE
Hackescher Markt
240
Tramway and S-Bahn
DIE MITTE KURFÜRSTENDAMM
4,431

Alexanderplatz Railway Shopping center
120
Station, S-Bahn and Metro
Aquadom ROSENTHALER STRASSE
Museum Sea Life Fernsehturm ALEXA BNP Paribas Real Estate - Q2 2017
Island Shopping Center
0 100 200 m RATHAUS PASSAGEN
Shopping Center
3,762
A
Tauentzienstrasse,
Rosenthaler Strasse and Alexanderplatz
Whilst the Kurfürstendamm label ba&sh on Neue Schönhauser Strasse and Footfall / hour
and Tauentzienstrasse are eyewear brand Ace&Tate on Alte Schönhauser
the two most important Strasse established operations in Hackescher
fall: 3 762 shopping streets in City Markt. The most heavily frequented Hackescher
Centre West, Berlin also Markt location, with almost 3,800 shoppers an
o ff e r s n uRosenthaler
m e ro u s m i cStraße
ro - l o c a42
tions of hour, is still Rosenthaler Strasse.
e
Rosenthaler Straße 40-41

trass
significance to retailers. Definitely deserving Southeast to Hackescher Markt is the well-
B
STORE a mention Rosenthaler
is HackescherStraßeMarkt,50
ler S
not least known Alexanderplatz square, which features

Hackescher Markt 2-3
C
ntha
because of the role it plays for the market entry two new retailers in Germany: Topshop in
Rosenthaler
of international operators. Straße 49 Galeria Kaufhof department store and Mister
Rose
Retailers thatRosenthaler
have enteredStraße
here are34-35
El Ganso, Spex in the Alexa mall.
Eleven Paris Rosenthaler Straße
and the world’s 13Adidas
first The footfall count in this precinct was just over D
Running-Store Rosenthaler StraßeThe
on Münzstrasse. 34-35
fashion 4,400 per hour. E
A GRANIT E OAKLEY
B HKMX-STORE F PUMA
C G F
HUGO BOSS NIKE STORE G
D MANGO H UNIQLO H

Kurfürstendamm (East) Kurfürstendamm (West)
With a length of 3.5 kilometers, the Kurfürstendamm is one of the The luxury section of the
longest shopping streets in Germany and no other location in Ku'damm hosts prestigious
the country presents a greater range of shopping from mass-market brands like Gucci, Escada
(East part) to luxury (West part). and Budapester Schuhe. In
New premises in direct vicinity to the boulevard are maintaining a this year’s count, it registe-
large variety of offer. Notable examples here include the landmark building Upper red around 1,400 pedestrians an hour com-
West which opened in spring, the Zoom with anchor tenant Primark, as well as the pared to the 6,600 figure on its Eastern
planned Mall of Ku'damm on former Karstadt site. In the future, these developments mass-market section.
could have a positive impact on the footfall figures in this top precinct.
A TOMMY HILFIGER F HUGO BOSS
B COS G C&A
C H
H
ASICS H&M
D
ast)
TESLA amm (E
F
tend
E
fürs
D
APPLE Kur
E
C
6,609
G
B
A
Footfall / hour

AMSTERDAM Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
0.83 2.68 8.36 18,850 137.9
A shift of Amsterdam’s core retail centre

Central station

IJK
6,588
END
UW
Luxury
NIE
0 200 400 m Dam DE BIJENKORF
Department Store
HUDSON’S BAY
RAAT
Department Store
7,888
Rent €/sqm/month
KALVERST
KALVERSTRAAT 258
LEIDSESTRAAT 217
213 AT
TRA
KALVERTOREN
SES
PIETER CORNELISZ HOOFTSTRAAT Shopping Center

LEID
4,352
Leidseplein
LISZ
E R C ORNE AT
PIET OFTSTR A
HO
1,768
Vondelpark
Van Gogh Museum,

Rijksmuseum Pieter Cornelisz Hooftstraat
Stedelijk Museum P.C. Hooftstraat, strategically located
in the affluent Oud Zuid district, is the
A
Netherlands' main luxury high
msterdam's market performance remains strong, driven by continued street with a footfall of over 1,750
entry of new retailers, growth in consumer spending and tourism. pedestrians per hour.
The supply side is active with the upcoming completion of deve- Footfall doubled over the past four years after the
lopment schemes to meet persistent high demand for large units. opening of new stores, including the iconic Chanel
The main shift is being observed downtown, where the retail centre of brand, and the improvement of public space there.
gravity is gradually moving towards the Rokin/Nieuwendijk/Kalverstraat The rising number of high-wealth foreign tourists
area. Gravity shift is a direct result of the completion of the Hudson's Bay visiting Amsterdam undoubtedly contribute to the
flagship store (Rokin area) of Nowadays (Nieuwendijk area) and of Rokin strong performance of the area. Consequently, persistent
Plaza (Rokin/Kalverstraat area). demand from new retailers is challenging landlords and
The inauguration of a new metro line in 2018 - with a stop at Rokin - will developers to create additional retail floor space in
further accelerate the shift. Amsterdam's luxury high street.

7,888 A
B
Footfall / hour
11
13-17
Nieuwendijk, Kalverstraat and Leidsestraat
31-33
C
With a footfall of nearly 7,900 This slight decline is possibly due to the
35-37 per hour, Kalverstraat shift of Amsterdam's core retail centre to the
48/52 heads up the country’s Nieuwendijk/Kalverstraat/Rokin area. D
E
66-72 busiest high streets. Retail Although reduced footfall may also be the
100-106 attractiveness and traffic result of temporary side effects from ongoing
114 have increased over the past couple of years major redevelopments at the former V&D
because of economic recovery and the opening department store and Kalvertoren shopping
of prime new flagship stores (Forever 21, Pull centre near Leidsestraat.
& Bear, Urban Outfitters and Topshop). F
A
Located north of Kalverstraat and extending
FOREVER 21
B
directly from it, Nieuwendijk ranks 2nd best in
terms of traffic with nearly 6,600 pedestrians PULL AND BEAR
per hour. C URBAN OUTFITTERS
D
The street recorded tremendous growth in
MANGO
aat
E
flows, even higher than Kalverstraat over the
G
erstr
last two years, due to the completion of the TOPSHOP
F
Kalv
Nowadays project (Primark, Zara and JD Sports ZARA

H
G
flagship stores).
FOOT LOCKER
H
In the South, Leidsestraat’s at 4,350 per hour
H&M
is experiencing loss of momentum.


ATHENS Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
0.66 3.82 2.68 10,801 79.0
Prime streets fueled by foreign demand

792
Luxury ATTICA
0 50 100 m Department Store
IOU
R EST
CITYLINK
U
KO EET
VOU STR
Shopping Center
ERMOU STREE
T
Rent €/sqm/month 3,014

200
Parliament
VOUKOURESTIOU STREET
ERMOU STREET 180 Metro Syntagma

Square

Average rent for a store unit
National Park
Acropolis
Voukourestiou Street
D
emand focused mainly on premium Ermou Street with a Voukourestiou Street is Athens' most luxurious
vacancy rate close to zero and ongoing entries like the fashion and accessories destination with, for
launch of Forever 21 in Greece. Key downtown areas instance, jewellers such as Bulgari, Cartier and
(Kolonaki, Panepistimiou and Stadiou Streets) are taking Kessaris, and exclusive brands like Dior, Prada,
advantage of larger numbers of tourists visiting Athens. Out of Louis Vuitton, Hermès, Tod's and Zadig et Voltaire.
town, major high street sectors (Kifissia, Sotiros/Piraeus and Part of Voukourestiou Street is formed by one of the four streets which
Glyfada) register higher demand due to lack of available space. used to enclose the former large building of the Army Pension Fund,
Rental levels reached their bottom in 2016. Given the combi- now transformed into Attica Department Store and the headquarters
nation of low vacancy in prime areas and readiness to expand of the Piraeus Bank. Three theatres and cafés plus restaurants, among
by retailers, rental increase is on the horizon. This prospect which is the well-known café Zonars, complement this luxury pitch.
itself may prompt moves by retailers aiming to take advantage Anchoring this area that hosts the majority of the high-end boutiques
of current rent conditions. in central Athens, is the Athens City Link mall.

Ermou Street
thens Ermou Street is a thriving pedestrian destination
A D

BERSHKA SEPHORA
B E
combining modern retail activity with old-town
FOREVER 21 MANGO
traditional shops with a lively atmosphere. Its bustling
pavements are lined with large stores, boutique C MARKS & SPENCER F H&M
50
46
designer shops, little snack bars and coffee shops.
G ZARA
H
The street has long been one of the most expensive to rent in Europe,
CER 33 NIKE STORE
it has been regaining momentum and in 2017, it is again the most
24
expensive street in Greece.
20
Ermou Street features many international
11
retail chains such as Forever 21, Mango,
A
9
Benetton, Marks & Spencer, H&M, Zara,
1 B
Stradivarius, Oysho, Nike, Bershka,
D E
C
Sephora, Tiger, Mothercare and Adidas
3,014
among others. The influx of retailers
F
G
Ermou
means that vacancy rates are almost zero.
H
Footfall / hour

BARCELONA Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
1.61 5.43 8.36 18,776 137.3
Tourism drives strength of retail axis

Casa Batlló,
Casa Lleó Morera Rent €/sqm/month
275
PA
SS
AV. DEL PORTAL DEL ANGEL

EIG
Passeig de
RA 245
DE
MB
Gracia
GR
LA
Metro PASSEIG DE GRACIA
AC
DE 175
IA
CA
TAL 10,132
CARRER DE PELAI
UN
A
4,468
EL CORTE INGLES
Department Store
EL TRIANGLE
AV
. DE
Shopping mall
LP
4,810
Catalunya
OR
10,216
Universitat
CARRER DE PELA
TAL
Metro
I
Metro
DEL
AN
GEL
Barcelona Cathedral,
3,914
Old touristic district
DE LA SA
RER
CAR AFERRIS
T
POR
Footfall (pedestrians per hour) LA BOQUERIA
Day of count : 10.06.2017 Open air food Market

Luxury
0 100 200 m
Gran Teatre del Liceu
B Passeig de Gràcia
eing a cosmopolitan and lifestyle metro-
polis, Barcelona boasts a vivid tourism
industry. Ranked in the Top 5 European
With a record footfall, the Paseo takes advantage of the pre-
destinations by international overnight
sence of the two most visited attractions: Casa Batlló and
visitors(1) in 2016, it has welcomed 2.68 million
Casa Mila (by Gaudí). It is Barcelona’s most prestigious street,
cruise passengers (+5.6% compared to 2015)
home to the highest number of exclusive brands. Luxury ac-
and 44 million travelers at El Prat airport(2).
counts for 66% of the offer with more than ninety stores inclu-
Successful startups, research centres and multi-
ding Bulgari, Furla, Manolo Blahnik and Valentino. The rest of the street positions
national firms intensify a vivid retail scene with
from mass-market to premium, with well-known international chains including
the largest luxury sector after Madrid.
flagship stores of Apple, Zadig & Voltaire, Nespresso and Uniqlo.
(1) Sources: Mastercard Global Destination Cities Index 2017,
(2) Barcelona Port and Barcelona Airport Vacancy is low and if a good opportunity emerges, it will see intense competition.

Avenida del Portal del Angel,
Carrer de la Portaferrissa, Rambla
de Cataluña and Carrer de Pelai
10,132
The rest of downtown Barcelona’s prime pitches are
genuine mass-market, taking around 70% of the offer
A
and stretching over a large geographic area.
B Portal del Angel is extremely busy and in the heart
Footfall / hour
Pa
of the medieval city. Leading to the old Cathedral,

s
se
ig
this pedestrianised street features a pure mass-market profile (91%

d
C
eG
of stores) with no vacancy and the highest rent level: €275/sqm/

rà
E
cia
month. The avenue extends to Carrer de la Portaferrissa, a narrow

F
D
cobbled axis with varied retailers (many young fashion stores are here)
occupying smaller units.
G
La Rambla de Cataluñais the city’s popular night-and-day family
H
shopping promenade. As with Plaza de Cataluña, this street has
experienced significant development in recent years and retail presence
has strengthened. The retail scene includes a majority of bars and
A NIKE STORE E & OTHER STORIES restaurants as well as mass-market fashion stores. Compared to the
B F
previous streets, La Rambla presents affordable rent levels for a
COS EMPORIO ARMANI
C G
newcomer to the market.
ZARA APPLE STORE
Carrer de Pelai benefits from a strategic location close to Plaza de
D H&M H EL CORTE INGLES Cataluña main square and to the University; its offer complements the
Source: BNP Paribas Real Estate Research one of Il Triangle prime mall.


BRUSSELS Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
1.19 2.49 2.39 17,478 127.8
Essentially cosmopolitan,
the city is a key spotlight in Europe
2,370
Mixed (Mass Market to Luxury) Royal Park
Luxury and Castle GALERIE TOISON D’OR
Porte de Namur
0 200 400 m Metro Shopping Center
CITY2 GALERIE LOUISE

Rogier Central Shopping Center
AV. ON D’O
TOIS
Shopping Center Railway Station
WA
Metro, Tramway
BD D RLOO
SE
DE L R
OUI
INNO
TE
RUE
E EL
A
358 ENU
Department Store
NEU
AV
Museum
VE 6,772
THE MINT District
Shopping Center
3,183
Stock Exchange Louise
Metro, Tramway
De Broukere Grand Place Square
Metro, Tramway INNO
GALERIES ANSPACH Department Store
Shopping Center
Place de la Bourse
Sainte-Catherine Metro
Rent €/sqm/month
1,328
Square
RUE NEUVE 163
138

NE
TOI RT
BOULEVARD DE WATERLOO
N
A E 108
RUE ANSA
AV. DE LA TOISON D'OR
D Prime rent without key money for a store unit
H Boulevard de Waterloo
ome to European institutions and many multi-
national headquarters, Brussels is a cosmopo-
litan city. It is a defacto capital for Europe and
is enriched by cultural and economic inflows Remote from massive flows, the Boulevard stands, along with
from around the world. southern Avenue Louise, as the most prestigious and “chic”
In retail, the city is engaged in long lasting and fierce address in the city. Prized by high-wealth customers,
competition with Antwerp for first place in Belgium. therefore a low traffic, it hosts exclusive brands with
Good at attracting innovative newcomers, Brussels activities like haute-couture, jewels, designers and fine food.
maintains prime position. The future opening of The Offers include Bulgari, Salvatore Ferragamo, Christofle, Hackett London, La
Mint will put high street retail in the spotlight. Maison du Diamant and the brand new “Rolex, by Hall of Time” store.

A SPRINGFIELD
B PRIMARK
C ZARA
D
Rue Neuve, Rue Antoine Dansaert,

H&M
E C&A
Avenue de La Toison d’Or and Avenue Louise F

G
FOOT LOCKER
NIKE
H
Lower downtown borders Upper downtown, whilst not so famous for
GALERIA INNO
the most visited tourist sites tourists, stands out as a powerful sector locally.
and especially the Grand Avenue Louise (northern part), a very busy
H
Place square with its historic street due to Louise metro station, is a
els baro-que guild houses. landmark for premium brands.
ve
FOOT FALL High flows and the largest mass-market high The rather short avenue focuses on fashion eN
eu
street offer in Brussels mean Rue Neuve is the mostly, with tenants such as Karen Miller,
Ru
busiest street. It is anchored by numerous Marina Rinaldi and 1.2.3.

8-12 rue Neuve
6,772
flagships including Primark that opened in Avenue de la Toison d’Or is benefitting
G
15 rue Neuve
2014 plus City2 shopping centre and Inno from renewed strength after the
24-28 rue Neuve
Department Store. The upcoming opening of the opening of Le Toison D’or (Apple
17-21 rue Neuve
refurbished The Mint passage will introduce a 1,600 sqm; Zara 4,000 sqm;
27-29 rue Neuve
F
new focal point. Up-scale retailing concentrates Bodum 500 sqm).
31-33 rue Neuve
around Rue Antoine Dansaert/Place Sainte- Boasting this "state-of-the
E
1000, Rue Neuve 54
Catherine, a picturesque cluster renowned for art" scheme in addition
Footfall / hour
C D
O 111-123 rue Neuve
good restaurants near the square. With lower to cinemas, the
flows than Rue Neuve, Rue Antoine Dansaert Avenue is receiving B
features “affordable luxury” fashion stores the advantages of
and designers such as IKKS, Sarah Pacini, increased profile. A
Kartell, Sandro and Zadig et Voltaire.


BUDAPEST Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
1.76 2.98 3.67 6,963 50.9
Improved economy is reviving retailer demand

and creating new supply
Opera
Miniversum
762
Museum
Oktogon
ANDRÁSSY ÚT
Metro
VÖRÖSMARTY NO. 1 Vörösmarty Tér
Retail Gallery Metro PÁRIZSI NAGYÁRUHÁZ
Department Store
VACI1 Deák Ferenc Tér
Retail Gallery Metro
FASHION ST
2,030
REET
Rent €/sqm/month
120
TCA
ANDRÁSSY ÚT
110
VÁCI U
VÁCI UTCA
Footfall (pedestrians per hour) Prime rent without key money for a store unit

Andrássy út
Luxury
0 100 200 m
The 2.5 km wide and spacious Andrássy Út
R
Avenue is the unique luxury spot in the heart
etail turnover, growing significantly since 2014, is foste- of Budapest. Most of the high-end prime fashion
red by low inflation, real wage growth, rising consumer names - Louis Vuitton, Burberry, Gucci, Polo
confidence and an improving labour market. FINA World Ralph Lauren and Moncler - have opened stores
Championships had a powerful effect on tourism resulting over the last couple of years. In 2016, Michael Kors joined the list
in sharp growth of overnight stays in summer 2017. of retailers operating on this elegant street that is bordered with
Such factors make up for the less favourable economic environ- villas and neo-renaissance mansions.
ment that impacted negatively on the supply structure in earlier Pedestrian traffic concentrates on the first third of the avenue,
years. In 2016, the refurbishment of the Váci 1 marked the return where famous luxury shops and tourist attractions are situated, like
of the “development spirit” in downtown Budapest. the gorgeous Hungarian Opera House building.

UNGARY - Budapestv a
&M 3
Váci utca
2,030
RA 6
OCCITANE 11b Váci utca Street is the central point for

OOTLOCKER 11 mass-market in the heart of Budapest and
Vá
SERVED 14 A
c
is historically known as a shopping

iu
tca
LAMANDER 17 promenade, which attracts tourists

B
Footfall / hour
especially in its northern section. The flow
Lorem ipsum
ANDORA takes advantage

18 of direct proximity to the Central Business
ANGO 19and to major tourist attractions, like
District,
C
A
St. Stephen's Basilica and the Ferris-wheel in the
E
H&M
B D
Erzsébet Square. In December, the flow increases
thanks to the Christmas market across Váci utca ZARA
C
F
and Vörösmarty Square. L’OCCITANE
D G
In 2016, H&M opened their second largest store
FOOT LOCKER
E H
in Europe in the newly refurbished Váci 1, which
RESERVED
is a boutique office and retail building under
historic preservation. It has complemented the F SALAMANDER
mass- to upmarket offer which counts major G PANDORA
H
international retailers such as Mango, Bershka,
MANGO
Esprit, Geox and Lacoste.


COPENHAGEN Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
0.59 1.97 1.66 22,354 163.5
Innovation, local demand

and tourism boost retail scene
Nørreport Station
6,964 KØB
MAG
ERGA
Ørstedsparken
DE
E
RGAD
ØSTE
ILLUM
Department Nyhavn Canal
Store
8,094 7,494 Kongens Nytorv
T)
Metro
ØGE
(STR
RV
MAGERTO
MAGASIN DU NORD
A
ADE
Department Store
GG
BER
S
RIK
Luxury
DE
FRE
0 100 200 m
5,252 Slotsholmen Island,

Museum District
National Museum

TIVOLI Gardens and
Central Railway Station Outdoor Leisure Park
K
Rent €/sqm/month nown as the gateway to the Scandinavian region, Copenhagen shows modernity
AMAGERTORV 263 and new retail trends. Despite a context where e-commerce sales are expanding
224
rapidly, local retail activity thrives because of its inventive offering favoured by an
ØSTERGADE
increasing population.
KØBMAGERGADE 202 Tourism is also on the rise, especially with the growing presence of high purchasing power
Exchange rate DKK/€: 0,1344 - Q3 2017 visitors from Asia. Most up-scale stores have now adapted and developed bespoke ap-
proaches to provide Asian customers with first grade services.
Copenhagen’s invention is continually throwing up pop-up shops and retail concepts to
test out potentially larger demand.

Østergade and Amagertorv
Footfall figures of Østergade and Amagertorv stand out as the highest
on the famous one-kilometer-long pedestrian Strøget axis.
Købmagergade With 7,494 pedestrians per hour, Østergade is an entry gate to
flows on the East, by the Kongens Nytorv metro. Home to two famous
and Frederiksberggade department stores (Illum and Magasin du Nord), the street boasts
the most well-known fashion brands on a spectrum from high-end to mass-market,
Perpendicular to Strøget, with Mulberry, Hugo Boss and Moncler at the beginning of the street, and Topshop,
Købmagergade presents a H&M, Gucci and COS close to Illum.
slightly inconspicuous Taking advantage of its strategic position as the central cross point of all inner
position; nonetheless it city pedestrian flows, Amagertorv registers a record figure of 8,094 pedestrians per
ARK - Copenhagen registers a significant flow (i.e.

6,964 pedestrians per hour) and takes
hour. The impressive flow, reinforces its attraction to luxury as shown by the recent
relocation of Louis Vuitton, the presence of Saint Laurent (at cross point with
advantage of large numbers of tourists Købmagergade) and the new Hermès shop due to open later this
Amagertorv
especially the ones who visit the23 Runde Tårn year. The area oozes luxury, around the famous Illums
BOLIGHUS (Round Tower). Amagertorv 10 Bolighus Scandinavian Design anchor.
F G
STORE Amagertorv
Also an interesting 8
site for mass-market
A H
A’S SECRET concepts, the street
Amagertorv
is attractive3for retailers
E
H&M
C
COPENHAGEN Amagertorv
of Sweden,6Arket, Vans,
B
such as H&M, Tiger
JENSEN Amagertorv
Esprit and Abercrombie & Fitch as4 well as for ILLUMS BOLIGHUS B
8,094
C
D
Amagertorv
UITTON Amagertorv 2
restaurants and cafés. DISNEY STORE
A
Østergade 60 Hall square, D
Very close to Rådhuspladsen/City
VICTORIA’S SECRET
E
Frederiksberggade benefits from tourist
ROYAL COPENHAGEN
flows equally on a purely mass-market offer
including Vero Moda, Foot Locker, Monki, Bur- F GEORG JENSEN
ger King and KFC. The Metro-ring due to open G LOUIS VUITTON Footfall / hour
H
in 2019 with a new station at Rådhuspladsen
PRADA
should make the area even more accessible.


DUBLIN Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
0.55 1.85 5.51 20,170 147.5
Redevelopment projects to attract new retailers

8,505
ILAC
Shopping Center Rent €/sqm/month
567
TR EET TR EET
MARY S HENRY S
GRAFTON STREET
MARY STREET 396
396
JERVIS ARNOTTS
Shopping Center Department store HENRY STREET
College Green
Temple Bar district
Trinity College
BROWN THOMAS
TREET
Department store
8,802
TON S

GRAF

Luxury ST STEPHEN’S GREEN

Shopping Center
0 200 400 m
St Stephen’s
Green Park
I Grafton, Henry and Mary Streets

n an economy operating at almost full capacity,
Dublin’s prime retail streets continue to benefit
from recovery in Irish spending power.
The combination of stronger than expected The 515 metre-long-pedestrianised Grafton Street is Irish
economic growth plus employment growth in high retailers’ most sought-after location.
value added sectors is encouraging the re-develop- Starting its route from Ireland’s oldest University, it adds a
ment of the office and retail landscape of the city. tourist dimension to a large retail offer. The street is anchored
A result of this is that investor and occupier inte- by Brown Thomas exclusive department store, a place
rest in street retailing is expected to remain solid. where most upmarket brands have concessions since unlike many other capital
cities, Dublin has no defined “luxury” retail pitch.
Reconfiguration of smaller units over recent years allowed for international
and domestic retailers seeking space to come into Dublin. The impact of this

8,505
strategy was positive with additions like & Other Stories, Hugo Boss, A PENNEY'S (PRIMARK)
B
Urban Decay, Space NK, Molton Brown and Victoria’s Secret. In the
TOPSHOP/MS SELFRIDGE
surroundings, Meyer Bergman and Hines are redeveloping large
premises into iconic retail sites. C H&M
Henry/Mary Streets show a strong footfall over the combined 575 D RIVER ISLAND Source: BNP Paribas Real Estate Research
E
metres thoroughfare.
MARKS & SPENCER
Footfall / hour
F
Units here are fully occupied, with a considerable number of UK high
street operators as well as domestic and international ones. Marks & ZARA
Spencer, Debenhams and Dunnes specialty stores are key landmarks G DEBENHAMS
H
on the scene, as is the Ilac Centre which has recently seen substantial
ARNOTTS
refurbishment. Combined with a wide range of clothing and footwear
retailers (Topshop, Ms Selfridge, Next, Zara, River Island, H&M) the
ng Centre 12 Henry St
offering makes the axis a very popular shopping destination.
Henry Street is well known as the home of the Arnott’s department
pping Centre, Henry Street
C
store, which was purchased by the Selfridge Group in 2015, with
G
D
plans in the pipeline to modernise and extend the front of the store. et
y stre
F
Mary Street, which follows directly on from Henry, was considered Henr
A H
somewhat secondary until Jervis Shopping Centre opened in 1996.
It is home to Ireland’s busiest flagship store Penney's (Primark) which treet
M ary s
also serves as the headquarters of the global retailer.
Footfall in downtown is likely to increase as the LUAS (light rail system B E
in Dublin) extensions are almost complete; given the proximity
of Grafton and Henry/Mary streets to stops, these locations will
undoubtedly gain.


FRANKFURT Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
0.73 2.61 3.72 25,242 184.6
High footfall, retail always on the move

Rent €/sqm/month
ZEIL 300
GOETHESTRASSE 280
STEINWEG 220
KARSTADT
ZEIL
Department store
10,280
MY ZEIL
Shopping Center
Metro, Bus, Tramway
GOETH
GALERIA KAUFHOF Peek & Cloppenburg Konstablerwache
2,194 ESTRAS
Department store
SE
Department store
2,770 Metro,
STEIN
ONE GOETHE PLAZA Hauptwache
WEG
Kleinmarkthalle
Food Market


Mixed (Mass Market to Luxury) Old City district,
Luxury Museums
0 50 100 m
T Goethestrasse
hanks to its economic strength and cosmopolitan
character, Frankfurt has long featured as one of Ger-
many’s most attractive retail locations. The best-known luxury mile in downtown Frank-
Its already favourable position could improve even furt is Goethestrasse with 2,200 pedestrians per
more, if the city takes advantage of Brexit and strengthens hour. It is the place where world-renowned
position as a financial hub in Europe, with a possible boom brands such as Burberry, Louis Vuitton, Prada,
in overnight stays from affluent business travelers. These Moncler, Hermès and Cartier operate.
are tantalising prospects for retailers, especially the inter- In the vicinity of Goethestrasse, an increase of premium brands
national ones, and the recent opening of Canadian Saks has been observed thanks to recent extensive investment in the
Off 5th is further evidence of Frankfurt's on-going success Junghof/Junghof Plaza area; further development will strengthen
in attracting key operators. this top location.

10,280
GER
A-GAL
B-ESP
Footfall / hour
C-DO
D-MA
E-FOO
Zeil and Steinweg D H

F-PRIM
G-PEE
F H-ZAR
C
With the footfall figure of 10,280, Frankfurt’s
Zeil
A G
Zeil occupies a prominent position among
Germany’s most heavily frequented E
B
shopping streets.
With the completion of the UpperZeil project
in 2018 and the upgrading of some other existing premises, this
outstanding location is set to become even more attractive.
The American burger chain Five Guys will stage its German
A E
premiere in this high-footfall address.
GALERIA KAUFHOF FOOT LOCKER
Linking the high end offer to the mass market sector, Steinweg
is the place where premium retailers (Stefanel, Boggi Milano) B ESPRIT F PRIMARK
have stores. With traffic of nearly 2,800, it attracts a quite si- C DOUGLAS G PEEK & CLOPPENBURG
D H
gnificant number of shoppers, but far from matching the high
MANGO ZARA
counts posted by the Zeil.
- Overnight international visitors 2016, Helsinki Tourism
HELSINKI Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
0.64 1.60 1.92 23,296 170.4
Positive outlook in Helsinki retail market

Rent €/sqm/month
Central Railway Station POHJOISESPLANADI 220
and Tramway
SOKOS ALEKSANTERINKATU 180
120
Lasipalatsi Department Store
Tramway MANNERHEIMINTIE
CITYCENTER
Shopping Center KLUUVI Prime rent without key money for a store unit
Shopping Center
Senate Square
ALEKSANTERINKATU
6,450
FORUM Ylioppilastalo
5,964
Shopping Center Tramway Senaatintori
Tramway
Aleksanterinkatu
Tramway GALLERIA ESPLANAD
STOCKMANN Shopping Center
POHJOISESPLANADI
Ylioppilastalo Department Store Kauppatori Market
3,738
Tramway Square
MA
Esplanadi Park
NN

Kauppatori
ERH
Tramway Tourist Cruise

EIM
Footfall (pedestrians per hour) Wharf

INT

IE

Luxury
0 50 100 m
Pohjoisesplanadi
I
ncreased tourism and customer confidence provide
new opportunities for retailing in Helsinki and Finland: With 3,738 pedestrians per hour - both locals and tourists
many new brands have entered the market during the - Pohjoisesplanadi is the prime location for high-end
last couple of years. brands in Helsinki. In a city that itself is not home to
Under a context where available retail space in CBD is many luxury brands, Pohjoisesplanadi is not a 100% pure
limited, the right units are also taken up quickly. An exa- luxury axis but the one that concentrates the most high-
mple of this was seen with the rapid reoccupation of the end retailers with Louis Vuitton as a coveted destination.
thousands of square metres in the city heart released Nearby, the Galleria Esplanad shopping centre supplements the offer with
following the bankruptcy of Anttila department stores. operators like Hugo Boss, Gant, Marimekko, Furla and Michael Kors.
Major new supply will come with the opening in a couple Further north, at the corner of Pohjoisesplanadi and Mannerheimintie,
of years of two schemes, Redi and Tripla, over 120,000 is the famous Stockmann department store also providing high-end and
sqm located outside the CBD. quality concessions.

Aleksanterinkatu 5,964
Footfall / hour
sinki
tu 52 -
and Mannerheimintie
Footfall: 5 964
With 5,964 pedestrians per hour, Aleksanterinkatu
Aleksanterinkatu
is the main mass-market21 prime street in Helsinki.
N Aleksanterinkatu
Together with the 52shopping centres in the CBD, the
C G
Aleksanterinkatu
o f f e r p r o v i d e19
d by the Aleksanterinkatu/ A F
Aleksanterinkatu
E H
O Aleksanterinkatu 50pitch comprises a complete mix
D
Mannerheimintie
Aleksanterinkatu 48 Dry, Zara and Esprit. New brands
with, for example, H&M, Lindex, Super
have openedAleksanterinkatu
downtown during the15 last couple of years such as Massimo
UTTI Dutti, & Other
Aleksanterinkatu 15and The Athlete's Foot.
Stories, Newbie, Volt B
Due to a limited stock of available
Aleksanterinkatu 44 retail premises in the
Aleksanterinkatu and immediate area, rent levels are likely to go up
slightly; however in core Helsinki around the CBD rents may reach a
high point sooner.
The best-known street in Helsinki, Mannerheimintie is a key artery A ESPRIT E H&M
B F
for mobility. It is home also to major retail magnets: the Stockmann
STOCKMANN LINDEX
C G
and Sokos Department stores plus the Forum shopping mall with its
large retail mix (Stadium, Gina Tricot, Marimekko). The avenue hosts ZARA MASSIMO DUTTI
a versatile selection of monobrand stores like Diesel, Lush, L’Occitane D MARIMEKKO H HUGO BOSS
and Clas Ohlson. Source: BNP Paribas Real Estate Research


LISBON Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
0.50 2.81 4.36 21,180 154.9
Tourism and regeneration converge to boost retail

Triumphal Arc
A
UGUST
Commerce
RUA A
Footfall (pedestrians per hour) Square
4,306
Luxury Metro
Metro Baixa-Chiado
4,472
0 100 200 m Rossio ARMAZENS DO CHIADO
Santa Justa Lift Shopping mall
RUA DO CARMO
RUA GAR
Carmo
Rossio Convent
RETT
Railway station
3,428
Café A
Brasileira
TIVOLI FORUM
Rent €/sqm/month
940
Shopping mall
130
E
DAD

CHIADO (RUA DO CARMO/RUA GARRETT)
ER 100
LIB
DA
AV.
Metro Avenida AV. DA LIBERDADE
BAIXA (RUA AUGUSTA) 90

A Avenida da Liberdade
symbol of history, tourism and vitality, Lisbon
is experiencing an influx of new stores with
original and appealing concepts. Undergoing Inspired by Champs-Elysées in Paris, the Avenue is “the
an exemplary regeneration process, it is attrac- place to be” for luxury local and international opera-
ting the attention of new brands and investors wor- tors in Lisbon. Its blend of luxury residences, offices,
ldwide. In turn town planning is creating a renewed high-end retail offer and hotels attract customers with high
market supply at a very dynamic pace. A strong rise purchasing power. Consequently it hosts prestigious re-
in tourism, an enhanced consumer confidence and a tailers such as Chanel, Dior, Cartier, Prada, Emporio Armani, Louis Vuitton,
more sustainable economic growth are combining to Versace, Bvlgari and Gucci, among others. Dominated by the fashion sector,
boost street retailing. Tourism’s role is a key driver Av. da Liberdade receives high demand from 1st-grade international brands
in the process making for a unique shopping expe- and the scarce supply arises from the new projects generated by building
rience in Lisbon. refurbishment.

Rua do Carmo, Rua Augusta and Rua Garrett
A
The incredible boost in tourism Rental values should remain high, given the strong STRADIVARIUS
B
and regeneration are conver- demand that instantly absorbs a supply fast beco-
BERSHKA
ging to revitalise Rua do Carmo ming scarce.
and Rua Garrett in Chiado dis- Further away in Baixa, Rua Augusta is one of the C GEOX
trict - Lisbon. busiest pedestrian streets in Portugal. Its traditio- D

NESPRESSO
E
Rua do Carmo presents the highest footfall; it is nal shops are mixed with mass-market international
EYEGLASS FACTORY
home to international large formats such as H&M retailers, restaurants and outdoor terraces. Hosting
and Mango, as well as to medium sized stores de- the Museum of Design and Fashion (MUDE), this F NIKE
dicated to fashion and home decoration. Together very lively axis welcomes street artists and thou- G MASSIMO DUTTI
with Rua Garrett, they are the most coveted target
locations for retailers.
sands of tourists who have contributed to a revived
street for retailing. H&M, Adidas Megastore and
PORTUGAL
H ZARA - Lisbon
Rua Garrett features the most emblematic shops Inditex group established activities and vacan-
A-STRADIVARIUS
and old cafés, in addition : Rua Garrett
to the well-known 72 non-existent. Due to high
cy is almost
Armazéns do ChiadoB-BERSHKA:
mall. It attractsRua Garrettdemand,
as a prime 32 rental values have
mass-market destination C-GEOX:
due to aRua Garrett
unique blend of20 increased, now standing at
C D
“old-fashioned” places, D-NESPRESSO
traditional setting: venues
Rua Garrett 8
€90/sqm/month.
3,428
B
and innovative concepts.E-EYEGLASS
The presenceFACTORY:
of Rua Garrett 33
F-NIKE: Rua Garrett 23 A H
E
Nespresso, Hugo Boss, Lanidor, Nike,
G
t t
Pull & Bear, Benetton, G-MASSIMO
Swarovski and DUTTI: Rua Garrett 15 Rua Ga
r r e
Havaianas reinforce its H-ZARA:

position Rua
as Garrett 9 F
one of the leading streets in Chiado.
Footfall / hour

MUNICH Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
1.45 2.80 5.24 29,578 216.3
Germany’s most expensive

and busiest prime shopping destination
Day of count : 10.06.2017 Residenz Museum,
From Mass Market to Up Market Hofgarten Park
E
TRASS

Luxury
INERS
0 50 100 m
THEAT
FÜNF HÖFE
Shopping Center
National Theater
7,604
Tramway
National
Theater
MAXIM
ILIANST
Theatinerstrasse
Tramway
RASSE 1,678 Kammerspiele
Tramway
Frauenkirche
Church
12,832 KAUFINGER
STRA
SSE
New City Hall
Rent €/sqm/month
Marienplatz KAUFINGERSTRASSE 370

310
GALERIA KAUFHOF Metro
Department Store MAXIMILIANSTRASSE
230
HOFSTATT
Shopping Center St. Peter Church THEATINERSTRASSE
T Maximilianstrasse
he third-biggest city in Germany, Munich stands
out as a business leader and trendsetter. A rapidly
growing population, a booming labour market and Maximilianstrasse is Germany’s most expensive luxury
high footfalls are key drivers to boost a varied shopping street (€310/sqm/month) ahead of similar
and dynamic retail offer. No surprise that in our footfall precincts such as Königsallee in Düsseldorf, Neuer Wall
survey, this shopping metropolis ranks in the Top 5 cities in Hamburg, Frankfurt’s Goethestrasse and Ku'damm in
in Europe. For many retail chains, the Bavarian capital Berlin. The luxury spectrum includes Versace, Chopard,
is seen as the ideal setting for flagship stores and the Brunello Cucinelli and Bulgari. It generates nearly 1,700 pedestrians per
market entry point for new concepts. hour, a figure that has shown robust stability over the five past years.

Kaufingerstrasse and Theatinerstrasse
A
With almost 13,000 visitors per the street has recorded the largest number of new
RESERVED
B
hour, Kaufingerstrasse is n°1 in leases signed, with a precinct extended by three
HIRMER
Germany in pedestrian traffic international fashion main players, Maje, Sandro
and the only street to have and Luisa Spagnoli. C CHRIST
D
regularly recorded more than

H&M
E
12,000 pedestrians over the past few years.
HUNKEMÖLLER
SERVED Kaufingerstraße
This axis is a coveted 15 especially
target location
RMER Kaufingerstraße 28
for establishing large flagship stores, such as the F ZARA
RIST Kaufingerstraße
Polish multi-branch 114,000 sqm
operator Reserved’s G GALERIA KAUFHOF
H
M opening in 2016,Kaufingerstraße 24the British
and more recently,
TOPSHOP
RA fashion label Kaufingerstraße 14 in Galeria
B
Topshop (August 2017
Kau
fing
NKEMÖLLERKaufhof). Kaufingerstraße 16 ers
12,832
tra
D
s
LERIA KAUFHOF
Perpendicular Kaufingerstraße
to Kaufingerstrasse, 1-5
A
se
PSHOP TheatinerstrasseKaufingerstraße
attracts about 1-5
C E
F
7,600 pedestrians per hour
with upper range positioning
G H
and ranks in our Top 25 in
Europe. Good footfall is at- Footfall / hour
tracting retailers; in early 2017,

- Overnight international visitors 2016, Statistics Norway
Sources : City population 2016, BNP PRE Research
OSLO Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
0.67 1.23 2.05 30,831 225.5
Economic recovery energises retail

3,552
Bogstadveien
Tramway Rent €/sqm/month
204
BOG
STA
KARL JOHANS GATE
177
DV
EIE
NEDRE SLOTTSGATE
N
133
HEGDEH
BOGSTADVEIEN
AUGSVE

Exchange rate NOK/€: 0,1062 - Q3 2017
IEN

Luxury Slottsparken Park,
0 200 400 m
Royal Palace
Museum EGER Shopping center -

District HØYER Department Store
5,818 OSLO CITY

Shopping Center
KARL
JOHA
NS G
Parliament
ATE
AKER BRYGGE
2,056
Shopping Center BYPORTEN SHOPPING
3,088
Mall

ATE
Ferry Terminal,
DEN
TTSG
Aker Brygge Tramway Central Railway
AN
STEEN & STRØM Station
STR
E SLO
Department Store
NEDR
O Nedre Slottsgate
slo is enjoying a flourishing retail market
that has benefitted from restored consumer
confidence, itself a result of recovery in the
economy. A weak currency is helping pro- Located at the corner of the busiest street in Oslo is Nedre
pel retail volume to new highs from the growing Slottsgate. Although not busy in its own right, it is currently
tourism industry. recording the highest level of asking rents in Norway even
Asking rents are rising to become comparable to above Karl Johans gate. Potential tenants search for units in
other European hot spots, mostly due to increased the section between Karl Johans gate and Prinsens gate, where
appetite for consumer goods. Norway is something all high-end stores are located. The street is also home to Steen & Strøm de-
of an exception here, as it has been barely touched partment store, one of the most successful malls in Scandinavia with a wide
by disruption from e-commerce, which accounts for range offer that is directed to high-end fashion. The presence of Louis Vuitton
only 3% of total retail sales. provides further claim to the street known as the most luxurious in the city.

Karl Johans gate, Bogstadveien and Stranden
With 5,818 pedestrians per hour, at the harbour and home to the most expensive
A MICHAEL KORS
B
Karl Johans gate stands out office suites and several popular restaurants.
H&M
ARKET as the most frequented street Retail remains limited compared to the other
in Oslo. streets, but the area shows a lot of pedestrian C MANGO
The street is widely known for affluence, especially in summer. D

VICTORIA’S SECRET
E
its varied mass-market offer (KappAhl, Victoria’s
KAPPAHL
Secret and Zara) that is complemented by luxury
and high-end fashion retail brands, particularly F VERO MODA
in the Eger/Høyer and in the Paleet exclusive G JACK&JONES
A H
destinations. The axis connects the Central Railway
BURGER KING
station to the Royal Castle, allowing retailers
B
to capitalise on the tourists converging on this
D
C
attraction.
F
G
Bogstadveien is 2nd best in footfall. This locally
well-known retail destination is situated far from E
5,818
the core city, but its tenants are strong magnets
for shoppers as the street hosts H&M, Zara and Bik Kar
l Jo
han
Bok. With easy access by public transportation via s ga
te
H
bus, train and tramway, its retail precinct extends
further south to Hegdehaugsveien where Massimo
Dutti, Oscar Jacobsen and Tiger of Sweden have Footfall / hour
operations. Stranden in Aker Brykke is located


PRAGUE Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
1.27 2.57 6.11 10,197 74.6
Prague, a comprehensive high street

offer which attracts far beyond Central Europe
PALLADIUM
Footfall (pedestrians per hour) Shopping Mall Rent €/sqm/month
210
From Mass Market to Up Market Náměstí Republiky NA PŘÍKOPĚ STREET
KOTVA Metro, Tramway
210
Mixed (Mass Market to Luxury) Department Store
Luxury PAŘÍŽSKÁ STREET
0 100 200 m
VÁCLAVSKÉ NAMĚSTÍ 180
NA STR
PŘ EET
ÍKO

PĚ
SLOVANSKÝ DUM
PAŘÍŽ
Shopping Passage
SKÁ S
TREET MYSLBEK
Shopping Gallery
2,814
ČERNÁ RŮŽE
Shopping Passage
8,008
Synagogues,
Josefov District National Museum,
Old Town Square, State Opera
St.Nicholas Church DESIRRED
7,932
Department Store
VÁCLAVSKÉ NAMĚSTÍ
Muzeum
Staroměstská Můstek Metro
Metro Metro

Old City District
D Pařížská Street
ue to its unrivalled combination of historical
heritage and outstanding architecture, Prague
ranks as a prime tourist destination in Europe. Parˇížská is Prague´s most exclusive address in close
The impressive flows of visitors augments solid vicinity to the iconic Old Town Square. In addition to some
domestic demand, the latter supported by noticeable upscale restaurants, the mile is home to a high density
wage growth in a tight labour market. of luxury retailers such as Louis Vuitton, Hermès, Fendi,
As a result, Prague’s prime streets record continuous Jimmy Choo, Gucci and Cartier. Due to both space
rental growth and rents are forecast to continue rising constraints and strong demand, some luxury brands have been searching
over the coming 12-18 months. for the right premises in this location for a long time without success.

8,008
CZECH REPUBLIC - Prague
Na Příkopě Street and Václavské Naměstí Footfall / hour
Na Prˇíkopě Street is Prague´s With a similar flow on its busiest Northern part,
prime retail axis with highest Václavské Namestí (Wenceslas Square) is the
CKER – Václavské nám.772/2 footfall and almost no vacancy. longest boulevard in the city. After having rapidly
KER - Na Příkopě 388/1 Taking advantage of its focal po- upgraded in recent years, it offers a wide spec-
L - Václavské nám. 846/1,sition - separating the medieval trum of fashion retailers, including key flagships
COLOURS OFTownBENETTON - NaTown,
from the New Příkopě
as well847/4
as connecting and department stores like C&A, Marks & Spencer
re
et
t
Na Příkopě 850/8
two major squares – the street stands out as one of and Van Graaf.
op
ěS
the most frequently visited locations and shop- ík
a Příkopě 15/583 Př
A
Na
H
ping
´S Na Příkopě promenades. International retailers such as
854/14 FOOT LOCKER
B
H&M, Mango, Desigual, Tommy Hilfiger and Zara
a Příkopĕ 19-21
F
NEW YORKER
G
have chosen the Na Prˇíkopě Street on a mid-range
positioning and Hamleys inaugurated its flagship C DESIGUAL
D E
store there in 2016.
B
BENETTON
E D
Pedestrian flow is enhanced by the powerful Palla-
C
MANGO
dium mall at East, as well as the Myslbek and Slo-
vanský Dum passages. The much awaited Savarin F ZARA
A
project by Crestyl will significantly increase the G HAMLEY´S
H
supply nearby, featuring a mix of high street retail,
H&M
F&B and shopping centre.

Sources : City population 2016, BNP PRE Research

ROME Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
2.86 4.34 7.09 20,497 149.9
Long tradition of retail in one

of the world’s top tourist destinations ERMOU
Metro Flaminio
Villa
ZO
Borghese
DI RIEN
VIA ZZA
LA
PIA
VIA CO
DEL DI S
BA PAG
Villa
3,462
BU NA
Medici
INO
5,003 Piazza di Spagna
VIA DE
EI 6,545
Vatican City
VIA D OTTI
L CORS
D
CON
O
Castel
Sant’Angelo
8,152
GALLERIA A.SORDI
Shopping Arcade
Fontana
di Trevi


Luxury
Piazza
0 200 400 m Venezia
B
Rent €/sqm/month eing the capital and largest city in Italy, Rome is one of the world’s top tourist des-
VIA DEI CONDOTTI 375 tinations due to its historical heritage.
290
Around 7 million international overnight visitors in 2016 visited the city which is fa-
VIA DEL BABUINO
mous for its lifestyle, restaurants and shopping districts. In addition Rome attracts
VIA DEL CORSO 250 affluent guests due to its economic and political importance, and the presence of the Vatican
State draws a large flow of tourists from all over the world.
The city centre builds on a long tradition in retail, with a high-end market concentrated
on Via dei Condotti and Via del Babuino, and a mass-market pitch focused on two sectors
around Via del Corso and Via Cola di Rienzo.

Via del Corso
8,152
A
and Via Cola di Rienzo
a Via dei Condotti
NEE FOOTFALL
andViaVia del Babuino
Via del Corso is one of the
longest retail promenades Footfall / hour
del Corso, 128/135 in Europe, connecting Piazza
Via del Corso,
Via dei 422Condotti is world Venezia to Piazza del Popolo.
H LAUREN Via del Corso,
renowned155/157for premium It features a comprehensive B
RE Via del Corso 164a/165a
and luxury brands. The offer of national and international mass-market
E Via del Corso,
street405 extends to 300 brands such as H&M, Zara, Diesel and Mango;
C
Via del Corso,
metres404 from Via del Corso it will soon host an Apple store. In addition, the D
Via del Corso, 170 from strong
to Piazza di Spagna, benefiting street serves major tourist destinations such as E
DUTTI Via del
pedestrian Corso,
flows. It is the200/201
place to be for high- Piazza di Spagna and Via dei Condotti. F
end national and international brands and Together with Via del Corso, Via Cola di Rienzo
the street features around 50 shops with fa- hosts a mass-market retail cluster of more
Via d
med names such as Prada, Gucci, Tiffany & than 100 shops including Nike, Trussardi, Guess
Co., Jimmy Choo and Louis Vuitton. and Zara. Being located between the Vatican
el Co
Via dei Condotti shows the highest rental City and Piazza del Popolo, it benefits from a
rso
G
level in Rome. strong footfall thanks to high tourist flows.
Via del Babuino, consolidating its positio-
ning as a retail destination, provides an A H&M E PUMA
B F
offer of luxury brands mainly concentrated
POLO RALPH LAUREN MANGO
C G
next to Piazza di Spagna.
The street hosts major retailers such as Miu DISNEY STORE ZARA
D H
H
Miu, Tiffany, Red Valentino, Chanel and ACCESSORIZE MASSIMO DUTTI
Moschino. Source: BNP Paribas Real Estate Research


STOCKHOLM Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
0.94 2.20 2.16 28,044 205.1
Variety keeps Stockholm lively and attractive

BIBLIOTEKSGATA
Day of count : 10.06.2017 STUREGALLERIAN
From Mass Market to Up Market Shopping Center
Luxury Hötorget Östermalmstorg
Tramway Tramway
3,376
N
0 50 100 m
Rent €/sqm/month
DROTTNINGGATAN 120
120
8,430
HAMNGATAN
8,342
NK
Average rent for a store unit
Department Store
Exchange rate SEK/€: 0,1036 - Q3 2017
HAMNGATAN
Nybroplan
Ferry, Bus and
ÅHLENS CITY Tramway Stations
Department Store
Kungsträdgården Park
DRO
GALLERIAN
Shopping Mall
TTNI
NGG
ATA
Central Railway
Station
Biblioteksgatan Royal Opera
Located near law firms, banks, real estate and
O
consulting firms, Biblioteksgatan has changed
perating at almost full capacity, the Swedish economy boasts its offer over the last few years.
a strong position. Growth in private consumption and retail The former luxury precinct is transforming
sales are among the strongest in Europe benefitting a retail into a trendy mix with cafés and retailers
market that is also gaining from high urbanisation, strong like Nilson, Sephora, & Other stories and Cos. It is attracting
infrastructure and a population on the rise. newcomers such as H&M Group’s market concept, Arket, which
Interest in opening space is greater than ever: Stockholm is a se- is set to open next year.
cure and stable growth market chosen by more and more interna- The luxury dimension still remains in part with Ralph Lauren, Peak
tional retailers, which strengthens its position as a cosmopolitan Performance, Longchamp and several other famous brands and
shopping city. Major retail streets (Biblioteksgatan, Drottninggatan jewellery stores. As a result, the street offers a unique retail
and Hamngatan) offer wide spectrum of choice, from high-end to mix. A possible rise in flows and in rental values can be foreseen,
low-cost brands and a mix of Swedish and foreign chains. especially with the up-coming Eataly store.

8,430
Drottninggatan and Hamngatan Footfall / hour
Drottninggatan is one of the In addition, Hamngatan claims Stockholm’s

busiest streets in Stockholm, largest H&M outlet, which operates over
with a footfall embodying all three floors, and food chains such as TGIF, Mc
cultures, ages and genders. Donald's and Max. Former interior design
And it is one very well connected boutiques on this street have
- Stockholmwith bus and metro stations. It is the place to find progressively closed
ggatan 56 - varied A
activities like H&M stores, pharmacies, and let to retailers like
Footfall: 8 430
Dro
Swedish low-to-medium cost stores, and brands XXL and Victoria’s secret.
ttn
in
that one can also find in most out-of-town malls.

MODA Drottninggatan 63
gga
A C
tan
Tourists find their way to the place that is anchored

X Drottninggatan 59 VERO MODA
B B
in the middle by the large “Åhlens” mall.
Drottninggatan 68 LINDEX
Connecting two major squares, Hamngatan is
C
MANN Drottninggatan 56
also a heavily frequented street with two large ZARA
UM Drottninggatan 53
shopping malls facing each other.
D D
PORT Drottninggatan 53 DRESSMANN
E E
One of the two, NK, is Stockholm’s most luxurious
HL Drottninggatan 53
shopping destination, a high-end concept STADIUM
Drottninggatan 56
comprising restaurants that have operated for F INTERSPORT F
many years in a historic and beautiful building. G KAPPAHL G
H H
The second one, Gallerian, focuses mainly on cafés
H&M
and low cost brands.


VIENNA Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
1.80 2.72 6.42 22,594 165.3
International retailers are being drawn in

by Vienna’s high spending tourists
4,744
Day of count : 10.06.2017 Metro
From Mass Market to Up Market Stephansplatz
Mixed (Mass Market to Luxury) St. Stephen's
Cathedral
KT
Luxury
AR
HLM
0 200 400 m
8,114
Imperial
KO
Palace
Natural History
Rent €/sqm/month Museum
400
E
TRASS
KOHLMARKT MuseumsQuartier
280
KHM Opera
TNERS
KÄRNTNER STRASSE
140
Leopold
KÄRN
MARIAHILFERSTRASSE Museum
GERNGROSS CENTER
Shopping Center
8,796

3,014
ASSE
Railway , Metro,
HILFERSTR
BAHNHOFCITY Tramway stations
MARIA
WIEN WEST Mall
Kohlmarkt
C
apitalising on its image as a leading tourist des- With 4,744 pedestrians per hour, Kohlmarkt is the exclu-
tination that is seeing international overnight sive destination for luxury. Most prestigious high-end
visitors increase (+3.5% in 2016 vs 15), Vienna is names have popped up over the last couple of years, with
attracting international brands in pursuit of high Louis Vuitton recently having relocated to larger premises
wealth spenders. and new arrivals like Fendi and Dior. It is not only fashion
Economic growth is acting to strengthen domestic as jewellery (Cartier or Tiffany & Co.) retailers have also set up shop.
purchasing power. That is translating to significant tur- The pedestrian flow is an expression of direct proximity to the Hofburg
nover gains for retailers operating on prime streets of Palace as well as of numerous tourist events all year long (Christmas
the “Golden U“ core sector, like Kärntnerstrasse and market is a special draw). Kohlmarkt ranks among the most expensive retail
Kohlmarkt Streets. locations in Europe.

Kärntnerstrasse and Mariahilferstrasse 8,796
Footfall / hour
Located at the heart of the inner created in the middle of the street) which seems
city, famous Kärntnerstrasse to have produced mix effects.
boasts high traffic with 8,114 There is a change in the retail mix - with a growing
Vienna pedestrians per hour. Mixing the role of restaurants - and rents are under pressure,
prestigious Steffl department with a possible downward trend. Nonetheless, the
77 store with mass-market to premium international street remains an attractive spot, with Nike and TK
64 retailers, all alongside cafés and souvenir shops, Maxx as newcomers.
57-59 this street stands out as a much coveted target.
50-52 The street records high demand and increasing H
42-48 A E G
rents, as shown by the past Zara Home deal in a
D
TK MAXX
53
B F
former Starbucks location. Apple has confirmed a
DOUGLAS
C
47 future store opening which will boost the street
C
B
45 even more. DESIGUAL
D
A more remote position from massive tourist
ESPRIT
E
exposure, Mariahilferstrasse is traditional 2 nd
ße
A
downtown mass-market with heavy flow ZARA Stra
fer
F
il
(8,796 per hour) and an advantageous public H&M riah
Ma
transportation access. G BERSHKA
H
The street has benefitted from urban revitalisation
JACK & JONES
occurred three years ago (a pedestrian zone was


WARSAW Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
1.74 3.33 1.72 11,651 85.2
Successful development of new

high streets supported by rising footfall
Gate to Old City main
touristic District Rent €/sqm/month
120
From Mass Market to Up Market PLAC TRZECH KRZYŻY
2,938 100
Mixed (Mass Market to Luxury) Nowy Świat-Uniwersytet
Luxury Metro MARSZAŁKOWSKA
90
0 50 100 m
NOWY SWIAT
MARS
NOWY

ZAŁKO
ŚWIAT
WSKA
STREE
STREE
Muzeum Narodowe
T
Palace of Culture Tramway

National
T
and Science WARS-SAWA JUNIOR

Department Store Museum
ZLOTE TARASY 3,104 VITKAC

Department Store
Stock
Shopping Center Exchange
Centrum MYSIA3
Concept Store
1,418
Metro and
PLAC TRZECH KRZYŹY

Tramway Stations
Central Railway Station, (THREE CROSSES SQUARE)

Bus and Tramway Platform
Plac Trzech Krzyży
I
nnovative high street retailing with mo- The Three Crosses Square is the most exclusive precinct, close to the
dern concepts, under development for Parliament, the Stock Exchange, embassies and consulates.
three years now, plus current intensive It forms a mix of leisure/catering and luxury retail destination in a
leasing of new high street projects may prestigious location. The area hosts mono-brand stores of Ermenegildo
double traffic. Given that international Zegna, Tiffi, Tod’s, Ralph Lauren and Omega. In Mysia 3 tenement house,
retailers operating on high streets are high-end brands are present (COS, CK Watches, Muji and Orska) and 200 meters north,
well-established and attractive concepts, the high-end multi-brand department store VitkAc features Gucci, Giorgio Armani, Bottega
the purchase conversion ratio is particu- Veneta and Louis Vuitton. Potential growth is still foreseen with the future opening of
larly high enabling good performance. the mixed-use scheme Ethos with 2,500 sqm of retail and services.

2,938
Marszałkowska and Nowy Świat Streets
Marszałkowska records the volumes. This former Royal route, a favourite
highest footfall due to a touristic thoroughfare, leads to the prime Footfall / hour
strategic location at the cros- Old Town touristic square and takes advan-
sing of two major avenues in tage of direct proximity to the University.
Warsaw - Jerozolimskie and International retailers like Orsay or L'Oc-
- Warsaw Marszałkowska - which also form a major trans- citane have activities on the street and as
A
2 938 port hub for bus, tramway and metro lines. a direct outcome of the upgrading in the
B
Flows are enhanced by Wars Sawa Junior mid-90s, the southern part has gradually
O Nowy Świat 68
C
mass-market department store with brands turned into a lively mix of tenants with cafés,
ONKA Nowy Świat 68
D
like TK Maxx, H&M, Zara, Home&You, Carre- restaurants and bars. Nowy Swiat is naturally
T Nowy Świat 66
E
four, Mango, Empik and C&A. one of the highest sought-after mass-market
NTINA Nowy SwiatNowy Świat
records 64
second-best footfall high streets in Warsaw. F
G
AN Nowy Świat 57/59
A E
ALLE Nowy Świat 64 TCHIBO GRYCAN
H
UCKS Nowy Świat 62
K PROVOST Nowy Świat 58a B BIEDRONKA F BIERHALLE
C G
Nowy
INGLOT STARBUCKS
D H
Świat
LACANTINA FRANCK PROVOST

ZURICH Population (million) Population (million) Overnight Foreign Purchasing Power Purchasing Power
0.39 1.45 2.20 47,581 348.0
A “big little” town with worldwide retail attraction

Luxury
0 100 200 m Rathausbrücke bridge,
City Hall
STORCHE
NGASSE
8,586
Bürkliplatz
1,690
Central Tramway and
Railway Lindenhof Park
Ferry Station
UTH)
Station
ASSE (SO
St. Peter Church
BAHNH FSTR
OFSTR G 2,290 BAHNHO
and Old City
ASSE ( NWE
district
NORTH REN
) 4,064
SHOPVILLE Tramway
Shopping mall Paradeplatz
GLOBUS
Department store MANOR ST. ANNAHOF Rent €/sqm/month
727
Department store Department store
BAHNHOFSTRASSE
473
JELMOLI

Department store RENNWEG
STORCHENGASSE 255
Exchange rate CHF/€: 0,8728 - Q3 2017
I Bahnhofstrasse (South) and Storchengasse

n addition to being a key economic centre,
Zurich is a highly prized international tou-
rist and leisure destination with an outs- The luxury section of the Bahnhofstrasse starts from famous Parade-
tanding position bordering a lake. The platz with Hermès, Armani and notably, the Grieder large multi-brand
city is strongly associated with the image store. This is a local institution for luxury since it distributes 200+ high-
of Swiss excellence, demonstrated by the end brands. The street includes Prada and Chanel, and attracts Asian
quality of hospitality, retail and cultural of- visitors who want Swiss watches such as Rolex. Latest openings are
fers. Zurich is also the place for state-of-the Dolce Gabbana and Graff Diamonds.
art urban projects with the 200,000 sqm Storchengasse features Mulberry and Tom Ford among others, in addition to the Swiss
Europaallee mixed-use complex next to the 3 Pommes high-end multi-brand store. The street is part of the Old City retail precinct
CBD, where Google occupies 50,000 sqm. with its exclusive cafés, stationery, accessories, book shops and small boutiques.

Bahnhofstrasse (North) and Rennweg
A
Bahnhofstrasse is a famous street to the luxury sector with the Widder 5* exclusive
known all over the world and hotel as a local landmark. The mass-market to
where most of the downtown premium retail offer focuses on “niche” operators
art (Bahnhofplatz 7 )- Footfall: 8 586concentrates. The
B
retail offer and activities (eyewear, accessories) and small
promenade walkway stretches boutiques (Tomas Sabo, Victorinox, Papeterie
Bahnhofstrasse 7 in the south, to the extremely
es
from the lake located Zumstein).

tras
Bahnhofstrasse 104railway station and tramway

C
fs
busy main Central

nho
A D
Bahnhofstrasse 92,
platform in the north.
Bah
SWAROVSKI
Bahnhofstrasse
Bahnhofstrasse‘s88
B
spectrum of retailers stretches
8,586
E
Bahnhofstrasse
from mass-market81 (North part) to luxury (South part). DOSENBACH
Bahnhofstrasse
The mass-market82/86
precinct is anchored by numerous C
F
OCHSNER SPORT
D
Bahnhofstrasse
flagships (H&M, 77 Zara) plus two iconic department
H&M
G
Bahnhofstrasse 75 House of The Brands (high-end
E
stores: Jelmoli - The
H
PKZ WOMEN
offer) and Globus. The street offer is complemented
by restaurants and hotels. Vacancy is scarce, and F MANGO Footfall / hour
demand for premises very high. G APPLE
H
Rennweg is the oldest street in Old Zurich district.
MANOR
Starting from Bahnhofstrasse, the street is a gateway

CITY DATA

Sources:
City key figures
Footfall counting
Counting was conducted by a partner provider
in 100 prime streets of 23 capital cities POPULATION - CITY
(provided by GFK and BNP Paribas Real Estate
all over Europe, on Saturday 10/06/2017. Local Research teams)
Local administrative unit.
For each capital city, The measurement of the footfall POPULATION METROPOLITAN REGION
A ) Prime axis were divided into 3 was executed by two person teams. (provided by EUROSTAT)
categories of range : - For narrow streets, a team NUTS 3 regions or a combination of NUTS 3 regions which
represent all agglomerations of at least 250,000 inhabitants.
- MASS-MARKET TO UP-MARKET positions in front of a store as
These agglomerations were identified using the Functional Urban
This category starts from the indicated. Each person counts flows Area (FUA). Each agglomeration is represented by at least one
Mass-market offer and extends to in opposite directions; the two NUTS 3 region. If in an adjacent NUTS 3 region more than 50% of
the medium-high range/”affordable figures are added together to get the population also lives within this agglomeration, it is included
luxury” offer. full flow. in the metropolitan region.
- LUXURY - For highly frequented streets and/
This category includes genuinely or large non pedestrian avenues
high-end and luxury brands. such as Avenue des Champs-
- MIXED Élysées, each sidewalk is counted
INTERNATIONAL OVERNIGHT VISITORS
This category is Mass-market to separately by a team, and the two
(provided by Mastercard Global Destination Cities Index
Luxury. It is based on 10 prime figures are summed up at the end. 2017, and for Helsinki and Oslo, local statistics offices)
axes in 6 capital cities (Avenue des For each sidewalk, the two persons Mastercard Overnight visitors: city level international overnight
Champs Elysées - Paris or stand back to back and count flows arrivals who actually stay in the destination city. The Mastercard
Passeig de Gràcia – Barcelona, for in both directions. sources are the national Statistics Boards of the relevant countries
or their Tourism Boards.
example) that mix both mass-market
and luxury stores. Footfall measurement by teams was
B ) Depending on size of the city, arranged on a timeline between 14:00
from 3 streets to 10 streets have and 16:00 o'clock, the length of the
been selected and monitored. period depending on how many PURCHASING POWER
C ) The counting point was located streets have to be monitored. The (provided by GFK GeoMarketing 2016/2017)
at the busiest point in the axis time slot was adapted in 4 countries It corresponds to the city population’s disposable net income,
to benchmark at the highest where national consumer habits mean including government subsidies such as pension payments,
unemployment assistance and child benefit. Purchasing power is
footfall, thereby illustrating the full the 14:00 to 16:00 time slot is not
provided in nominal euro values. Europe’s purchasing power for
potentiality offered by that street. a usual “peak hour”. This included
2016 equates to an average of €13,672 per inhabitant (base 100
Greece (counting done between 12:00 in Europe) and refers to 42 countries.
and 14:00 o’clock), Italy (counting
done between 16:00 and 18:00
o’clock), Portugal (counting done
RETAIL RENT LEVEL
between 16:00 and 18:45 o’clock) and
(provided by BNP Paribas Real Estate Local Research teams)
Spain (counting done between 18:00 Typical prime rent for a store unit.
and 20:00 o’clock). - Athens, Stockholm: average rents
- Rest of cities excluding Paris: prime rents without key money.
Footfall measurement by teams - Paris: prime rent with key money.
occurred over a 30 minute-length-
period, and number was multiplied
by two in order to obtain the hourly
footfall figure.

RESULTS BY COUNTRY
FOOTFALL
COUNTRY CITY PRIME HIGH STREET CATEGORY PEDESTRIANS/
HOUR
Austria Vienna Mariahilfer Straße Mass- to Up-market 8,796

Austria Vienna Kärntner Straße Mass- to Up-market 8,114
Austria Vienna Kohlmarkt Luxury 4,744
Belgium Brussels Rue Neuve Mass- to Up-market 6,772
Belgium Brussels Av. Louise Mass- to Up-market 3,183
Belgium Brussels Av. de la Toison d'Or Mass- to Up-market 2,370
Belgium Brussels Rue Antoine Dansaert Mass- to Up-market 1,328
Belgium Brussels Boulevard de Waterloo Luxury 358
Czech Republic Prague Na Příkopě Street Mass- to Up-market 8,008
Czech Republic Prague Václavské Náměstí Mass- to Up-market 7,932
Czech Republic Prague Pařížská Street Luxury 2,814
Denmark Copenhagen Amagertorv Mixed Mass-market to Luxury 8,094
Denmark Copenhagen Østergade Mixed Mass-market to Luxury 7,494
Denmark Copenhagen Købmagergade Mass- to Up-market 6,964
Denmark Copenhagen Frederiksberggade Mass- to Up-market 5,252
Finland Helsinki Mannerheimintie Mass- to Up-market 6,450
Finland Helsinki Aleksanterinkatu Mass- to Up-market 5,964
Finland Helsinki Pohjoisesplanadi Luxury 3,738
France Paris Av. des Champs Elysées Mixed Mass-market to Luxury 10,277
France Paris Boulevard Haussmann Mass- to Up-market 8,143
France Paris Rue de Rennes Mass- to Up-market 5,504
France Paris Rue de Rivoli Mass- to Up-market 4,790
France Paris Rue du Commerce Mass- to Up-market 4,334
France Paris Boulevard Saint-Germain Mass- to Up-market 2,856
France Paris Rue des Francs-Bourgeois Mass- to Up-market 2,468
France Paris Rue de Sèvres Mass- to Up-market 2,142
France Paris Rue Saint-Honoré Luxury 2,042
France Paris Av. Montaigne Luxury 714
Germany Berlin Tauentzienstraße Mass- to Up-market 7,095
Germany Berlin Kurfürstendamm (East) Mass- to Up-market 6,609
Germany Berlin Alexanderplatz Mass- to Up-market 4,431
Germany Berlin Rosenthaler Straße Mass- to Up-market 3,762
Germany Berlin Neue Schönhauser Straße Mass- to Up-market 2,050
Germany Berlin Kurfürstendamm (West) Luxury 1,414
Germany Frankfurt Zeil Mass- to Up-market 10,280
Germany Frankfurt Steinweg Mass- to Up-market 2,770
Germany Frankfurt Goethestraße Luxury 2,194
Germany Munich Kaufingerstraße Mass- to Up-market 12,832
Germany Munich Theatinerstraße Mass- to Up-market 7,604
Germany Munich Maximilianstraße Luxury 1,678
Greece Athens Ermou Street Mass- to Up-market 3,014
Greece Athens Voukourestiou Street Luxury 792
Hungary Budapest Váci utca Mass- to Up-market 2,030
Hungary Budapest Andrássy út Luxury 762
Ireland Dublin Grafton Street Mass- to Up-market 8,802
Ireland Dublin Henry Street/Mary Street Mass- to Up-market 8,505
Italy Milan Corso Vittorio Emanuele II Mass- to Up-market 8,598
Italy Milan Via Torino Mass- to Up-market 6,562
Italy Milan Via Dante Mass- to Up-market 5,330
Italy Milan Via Montenapoleone Luxury 2,932

FOOTFALL
COUNTRY CITY PRIME HIGH STREET CATEGORY PEDESTRIANS/
HOUR
Italy Milan Via della Spiga Luxury 2,027

Italy Rome Via del Corso Mass- to Up-market 8,152
Italy Rome Via dei Condotti Luxury 6,545
Italy Rome Via del Babuino/Piazza di Spagna Luxury 5,003
Italy Rome Via Cola di Rienzo Mass- to Up-market 3,462
Netherlands Amsterdam Kalverstraat Mass- to Up-market 7,888
Netherlands Amsterdam Nieuwendijk Mass- to Up-market 6,588
Netherlands Amsterdam Leidsestraat Mass- to Up-market 4,352
Netherlands Amsterdam Pieter Cornelisz Hooftstraat Luxury 1,768
Norway Oslo Karl Johans gate Mass- to Up-market 5,818
Norway Oslo Bogstadveien Mass- to Up-market 3,552
Norway Oslo Stranden Mass- to Up-market 3,088
Norway Oslo Nedre Slottsgate Luxury 2,056
Poland Warsaw Marszałkowska Street Mass- to Up-market 3,104
Poland Warsaw Nowy Świat Street Mass- to Up-market 2,938
Poland Warsaw Plac Trzech Krzyzˉy Luxury 1,418
Portugal Lisbon Rua do Carmo Mass- to Up-market 4,472
Portugal Lisbon Rua Augusta Mass- to Up-market 4,306
Portugal Lisbon Rue Garrett Mass- to Up-market 3,428
Portugal Lisbon Av. da Liberdade Luxury 940
Spain Barcelona Av. del Portal del Angel Mass- to Up-market 10,216
Spain Barcelona Passeig de Gràcia Mixed Mass-market to Luxury 10,132
Spain Barcelona Carrer de Pelai Mass- to Up-market 4,810
Spain Barcelona Rambla de Cataluña Mass- to Up-market 4,468
Spain Barcelona Carrer de la Portaferrissa Mass- to Up-market 3,914
Spain Madrid Calle de Preciados Mass- to Up-market 10,292
Spain Madrid Gran Vía Mass- to Up-market 9,956
Spain Madrid Calle Fuencarral Mass- to Up-market 9,196
Spain Madrid Calle Serrano Mixed Mass-market to Luxury 2,384
Spain Madrid Calle de Goya Mass- to Up-market 1,608
Spain Madrid Calle de José Ortega y Gasset Luxury 696
Sweden Stockholm Drottninggatan Mass- to Up-market 8,430
Sweden Stockholm Hamngatan Mass- to Up-market 8,342
Sweden Stockholm Biblioteksgatan Mixed Mass-market to Luxury 3,376
Switzerland Zurich Bahnhofstraße (North) Mass- to Up-market 8,586
Switzerland Zurich Bahnhofstraße (South) Luxury 4,064
Switzerland Zurich Rennweg Mass- to Up-market 2,290
Switzerland Zurich Storchengasse Luxury 1,690
UK London Oxford Street Mass- to Up-market 13,560
UK London Regent Street Mixed Mass-market to Luxury 9,252
UK London Old Bond Street Luxury 5,564
UK London Long Acre Mass- to Up-market 3,514
UK London South Molton Street Luxury 3,298
UK London New Bond Street Luxury 2,746
UK London King's Road Mixed Mass-market to Luxury 1,802
UK London Marylebone High Street Mixed Mass-market to Luxury 1,656
UK London Cheapside* Mass- to Up-market 1,194
UK London Sloane Street Luxury 708
*Cheapside – Countings potentially impacted downward by Rapha Nocturne race

REPORT CONTENTS DESIGN
COORDINATION AND SPECIAL AND PUBLISHING
ACKNOWLEDGMENTS
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We would like to thank Business Marketing and
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Head of International of this publication: Brand and Business Contents
Investment Group
larry.young@bnpparibas.com Contents in partnership with: Graphic design and layout:
BNP PARIBAS REAL ESTATE ZED Agency
INTERNATIONAL LEASING www.zedagency.fr
RESEARCH TEAMS:
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Richard MALLE For any request

Global Head of Research on activities and partners:
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Lou CELLIER
Bénédicte TEISSIER Deputy Director
International Retail Analyst Alliances network
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Special acknowledgments to:

Wolfgang SCHNEIDER
Head of Research Germany
wolfgang.schneider@bnpparibas.com
Samuel DUAH
Head of Real Estate Economics
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REAL ESTATE
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A CHANGING WORLD
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REAL ESTATE

2 BNP Paribas Real Estate RETAIL

Larry YOUNG Wolfgang SCHNEIDER

RETAIL BNP Paribas Real Estate 3

consumer spending and investment demand, appears to be a

4 BNP Paribas Real Estate RETAIL

The role of inflation

retail pricing power

Low wage growth but real household

RETAIL BNP Paribas Real Estate 5

Foreword by the authors. This Pan-Eu-

RETAIL BNP Paribas Real Estate 7

Source: Mastercard Global Destination Cities 2017

Alongside the major metropolitan areas, a

Source: BNP Paribas Real Estate Research

RETAIL BNP Paribas Real Estate 9

Global Destination Cities Index 2017

8.67 13.84 19.06 27,146 198.6

RETAIL BNP Paribas Real Estate 11

©BNPPRE Research - D&A

C LOUIS VUITTON F TIFFANY & CO.

12 BNP Paribas Real Estate RETAIL

B FOREVER 21 F HOUSE OF FRASER

C DISNEY STORE G RIVER ISLAND

Sources: City population 2016, BNP PRE Research,

Global Destination Cities Index 2017

2.20 12.09 15.45 28,541 208.8

RETAIL BNP Paribas Real Estate 15

714 2,042 RUE S

©BNPPRE Research - D&A

Avenue Montaigne Rive Gauche (Left Bank)

n front of Long- premier address for luxury in Paris and worldwide.

16 BNP Paribas Real Estate RETAIL

Source: BNP Paribas Real Estate Research

Global Destination Cities Index 2017

3.17 6.39 5.24 18,372 134.4

RETAIL BNP Paribas Real Estate 19

CALLE DE JOSE ORTEGA Y GA

©BNPPRE Research - D&A

Puerta del Sol

Calle de José Ortega y Gasset Calle Serrano

20 BNP Paribas Real Estate RETAIL

Source: BNP Paribas Real Estate Research

Global Destination Cities Index 2017

1.35 4.29 8.17 25,708 188.0

RETAIL BNP Paribas Real Estate 23

©BNPPRE Research - D&A

Prime rent without key money for a store unit

24 BNP Paribas Real Estate RETAIL

Europe. Via Torino ranks as one of the most C NADINE

Source: BNP Paribas Real Estate Research

Global Destination Cities Index 2017

3.52 5.07 4.94 19,990 146.2

RETAIL BNP Paribas Real Estate 27

Hackescher Markt District

©BNPPRE Research - D&A

Rosenthaler Straße 40-41

significance to retailers. Definitely deserving Southeast to Hackescher Markt is the well-

not least known Alexanderplatz square, which features

28 BNP Paribas Real Estate RETAIL

A TOMMY HILFIGER F HUGO BOSS

Global Destination Cities Index 2017

0.83 2.68 8.36 18,850 137.9

A shift of Amsterdam’s core retail centre