O N
T O P
O F
T H E
D E A L S .
I N
T O U C H
W I T H
T H E
D E A L M A K E R S
SpeCiaL report
EUROPEAN RETAIL ATLAS ICSC EUROPE AND PROPERTYEU JOIN FORCES RESEARCH PROFILES OF SHOPPING CENTRES SNEAK PREVIEW INITIAL RESEARCH RESULTS NEW PROJECT LAUNCHED AT MAPIC 2013
i N C o p e r at i o N w i t h C B r e , C u S h M a N & w a K e f i e L D & J o N e S L a N G L a S a L L e
European Retail Atlas The European Retail Atlas is the essential reference work for all retail real estate professionals in the retail real estate industry. The publication contains a ranking of the leading retail developers in Europe and a comprehensive overview of their recently delivered shopping centres and developments in the pipeline. The European Retail Atlas will be published at MAPIC in November 2013.
As well as key rankings and profiles, the publication highlights the latest strategies and industry themes: • • • • • •
Top retail locations Interviews with industry leaders Retail investment strategies Retail in secondary cities Retail industry trends Sustainability issues
Showcase your shopping centres and company ICSC Europe and PropertyEU invite European retail developers to showcase their recently completed shopping centres or new developments in a special section in the European Retail Atlas. This initiative provides you with a unique opportunity to reach out to local and international investors, financiers, developers, retailers and end-users. For more information, see the back cover of this preview
Europe’s retail leaders PropertyEU and ICSC Europe have joined forces to publish an annual review of the leading retail developments and pipeline projects across Europe. The European Retail Atlas will feature overviews and profiles of recently completed shopping centres, retail parks and high-street units in the leading capitals across Europe as well as secondary and tertiary cities. It will also include an update on the major themes shaping the European retail industry, drawing on ICSC Europe’s ongoing research programmes and key events such as Retail Connections. As the premier global trade association of the shopping centre industry, ICSC has a long history in promoting the sector’s role in the commercial distribution of consumer goods and services. It provides educational programmes and publications covering all aspects of shopping centre development as well as finance, management, marketing and other specialised areas of professional interest. Since 2006 PropertyEU’s research unit has collected a wealth of data on developers and their projects. The PropertyEU database of leading retail developments across Europe draws on an annual survey of the top commercial real estate developers launched in 2008. PropertyEU’s Top Developers survey, published in March each year, covers both office and logistics sectors as well as retail. retaiL raNKiNGS The European Retail Atlas will focus on current and upcoming projects by the leading retail developers in Europe included in PropertyEU’s annual ranking of top developers. Thanks to the support from ICSC Europe and its members, PropertyEU’s 2013 retail developers ranking is more comprehensive than ever. The contributions from ICSC members have significantly raised the quality of this annual survey and research. The European Retail Atlas also expands on PropertyEU’s existing City Leaders database of the top cities in Europe and leading developments in the office, logistics and retail sectors. The new publication will drill more deeply into individual retail developments and delivered projects as part of our ongoing aim to support transparency in the European real estate sector. LauNCheD at MapiC 2013 The European Retail Atlas complements and enhances ICSC Europe’s wide-ranging research programmes and publications and is specifically targeted as the must read reference for retailers and key players in the European shopping centre industry. The new publication will reach the widest possible audience thanks to the extensive networks of both the ICSC and PropertyEU. The first edition will be launched at MAPIC 2013 and distributed to the attendees in Cannes, as well as ICSC members and the 15,000 readers of PropertyEU. Thank you to all those who have contributed to the research. Both ICSC Europe and PropertyEU wanted to share the initial results and give ICSC members and readers a preview of what is to come. We hope that we can count on your continued support to help make the European Retail Atlas the most comprehensive research tool and benchmark for the European shopping centre industry. Mike Morrissey Managing Director ICSC Europe
Judi Seebus Editor in chief PropertyEU
propertYeu
|
april
2013 | 3
“In 10 years, all shopping will be online.”
… and the earth is flat.
At ECE, we tend not to believe in platitudes. Instead, we actively explore how our industry will develop. And most importantly, we ask our customers about their perspective. Together with Roland Berger Strategy Consultants, we recently interviewed almost 42,000 people and analyzed around 2,000 shopping diaries. The result can be found in one of the most comprehensive studies into how people really act in today‘s retail world. Key insight: offline retail continues to be a main driver for the future of shopping. Find out the full story at www.ece.com/multichannelstudy
Shopping | Office | Traffic | Industries ECE Projektmanagement G.m.b.H. & Co. KG Heegbarg 30, 22391 Hamburg, Germany Phone: +49 (0)40 606 06-0, Fax: +49 (0)40 606 06-6230 www.ece.com, info@ece.com
germany capital Berlin most important cities Berlin, Hamburg, Munich, Frankfurt population 80,3 million figures Gdp (nominal) (2 0 1 2 estimate) total: $3.401 trillion per capita: $ 41,513 currency Euro facts member of the European Union
hamburg
netherl ands
pol and
berlin
Germany has a social market economy with a highly skilled labour force, a large capital stock, a low level of corruption and a high level of innovation. It has the largest and most powerful national economy in Europe, the fourth largest by nominal GDP in the world. The service sector contributes approximately 71% of the total GDP, industry 28% and agriculture 1%. The official average national unemployment rate in 2012 was 6.7%.
dusseldorf be lgium
ger m a n y
luxe m bourg
frankfurt
czech republic fr ance
munchen austria swi tzerl and
99 shopping centres delivered in 2010–2012
top 10 pipelineprojects Frankfurt, Skyline Plaza
40,000 m2
170 units
2400 pp
ECE
Aachen, Aquis Plaza
32,000 m2
130 units
600 pp
ECE
Aachen, Aquis Plaza
32,000 m2
130 units
600 pp
ECE
Mainz, Karstadt Mainz,
30,000 m2
-
400 pp
ECE
Frankfurt, Skyline Plaza
40,000 m2
170 units
2400 pp
ECE
Aachen, Aquis Plaza
32,000 m2
130 units
600 pp
ECE
Mainz, Karstadt Mainz,
30,000 m2
-
400 pp
ECE
Frankfurt, Skyline Plaza
40,000 m2
170 units
2400 pp
ECE
Aachen, Aquis Plaza
32,000 m2
130 units
600 pp
ECE
Mainz, Karstadt Mainz,
30,000 m2
-
400 pp
ECE
3 million m² sales area delivered in 2010–2012 27% less than in 2009–2011 976 completed shopping centres included in PropertyEU survey Delivered SC comprise 4872 units
SOURCE PROPERTYEU
e-Commerce definitie van weergegeven waarden
prime rents & yields 15%
55%
definitie van weergegeven waarden
345 275
30%
transaction volumes
300
125
POWERED BY CUSHMAN & WAKEFIELD
definitie van weergegeven waarden
345 300
275 125
POWERED BY CBRE
POWERED BY JONES LANG LASALLE
european retailatlas
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november
2013 | 5
pipeline projects Name Shopping Centre
Name Shopping Centre
Name developer location Frankfurt sales area 10.250 m2 units 125 yerar of opening 2012
profiLe 68
Name Shopping Centre
Name Shopping Centre
ShowCaSe 68
Longer name for Shopping Centre
Name developer location Frankfurt sales area 10.250 m2 units 125 Year of opening 2012
ShowCaSe 68
Name Shopping Centre Multi development sales area 10.250 m2 units 125 yerar of opening 2012 icsc award winner 2011 icsc solal marketing award nominee 2012
Name developer location Frankfurt sales area 10.250 m2 units 125 Year of opening 2012
profiLe 68
ShowCaSe 68
Name developer location Frankfurt sales area 10.250 m2 units 125 yerar of opening 2012
profiLe 68
Name developer location Frankfurt sales area 10.250 m2 units 125 Year of opening 2012
Name Shopping Centre ShowCaSe 68
SMALL ADVERTISING POSITION
6 |
november
2013 |
european retailatlas
Name developer location Frankfurt sales area 10.250 m2 units 125 yerar of opening 2012
Name Shopping Centre
Naam achternaam Leasing manager +44 22.33.56.78.90 naam@multi.com
ShowCaSe 68
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Name Shopping Centre
Name developer location Frankfurt sales area 10.250 m2 units 125 Year of opening 2012
ShowCaSe 68
Name Shopping Centre
Name developer location Frankfurt sales area 10.250 m2 units 125 yerar of opening 2012
Name Shopping Centre
profiLe 68
Name developer location Frankfurt sales area 10.250 m2 units 125 yerar of opening 2012
Longer name for Shopping Centre
Quid quo molor ratem ra que coreratio blabo. Alibus sitatur aut fugitaecti destorepedi sitiam, ende mossum fugit officip ictore veles explabo repudi quiam quuntia niscili bustius, ute vereste mquam, undebis tibusam, omnim facessi doluptati doloriae nistio quo eos ea dolorib uscius, cuptati
Corio Deutschland sales area 10.250 m2 units 125 yerar of opening 2012 icsc award winner 2011 icsc solal marketing award nominee 2012
bulwiengesa AG Berlin Wallstr. 61 10179 Berlin T +49 (0)30 27 87 68 0 F +49 (0)30 27 87 68 68 www.bulwiengesa.de
Name developer location Frankfurt sales area 10.250 m2 units 125 yerar of opening 2012
Name Shopping Centre Name developer location Frankfurt sales area 10.250 m2 units 125 yerar of opening 2012
profiLe 68
germany Name Shopping Centre
completed projects
Name developer location Frankfurt sales area 10.250 m2 units 125 yerar of opening 2012
Name developer location Frankfurt sales area 10.250 m2 units 125 opened 2012 icsc award winner 2011
Name Shopping Centre Name developer location Frankfurt sales area 10.250 m2 units 125 opened 2012
Longer name for Shopping Centre Name developer location Frankfurt sales area 10.250 m2 units 125 yerar of opening 2012
Hamburg
frankfurt
Name Shopping Centre
Name Shopping Centre
Longer name for Shopping Centre Name developer location Frankfurt sales area 10.250 m2 units 125 yerar of opening 2012
Name Shopping Centre
Berlin
profile 68
Name developer location Frankfurt sales area 10.250 m2 units 125 opened 2012
profile 68
Name Shopping Centre Name developer location Frankfurt sales area 10.250 m2 units 125 yerar of opening 2012
profile 68
showcase 68
Name Shopping Centre Name developer location Frankfurt sales area 10.250 m2 units 125 yerar of opening 2012
Longer name for Shopping Centre Name developer location Frankfurt sales area 10.250 m2 units 125 yerar of opening 2012
Name developer location Frankfurt sales area 10.250 m2 units 125 opened 2012 icsc solal marketing award nominee 2012
Munich
Longer name for Shopping Centre Name developer location Frankfurt sales area 10.250 m2 units 125 Year of opening 2012
profile 68
Name Shopping Centre
Name Shopping Centre ECE Projektmanagement sales area 10.250 m2 units 125 opened 2012 icsc award winner 2011 icsc solal marketing award nominee 2012
Name developer location Frankfurt sales area 10.250 m2 units 125 opened 2012
Longer name for Shopping Centre
showcase 68
Quid quo molor ratem ra que coreratio blabo. Alibus sitatur aut fugitaecti destorepedi sitiam, ende mossum fugit officip ictore veles explabo repud expla explabo repudi quiam scili bus explabo repudi quiam quuntia nisvereste mquam, undebis tibusam, omnim facessi doluptati doloriae nistio quo eos ea dolorib uscius, cuptati Naam achternaam Leasing manager +44 22.33.56.78.90 naam@ece.com
Name developer location Frankfurt sales area 10.250 m2 units 125 opened 2012
Name Shopping Centre Name developer location Frankfurt sales area 10.250 m2 units 125 opened 2012
showcase 68
Name Shopping Centre Name developer location Frankfurt sales area 10.250 m2 units 125 opened 2012
european retailatlas
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november
2013 | 7
company profile produced by PropertyEU for Sonae Sierra
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Volume per segment Et resequi omnisquodit vidis etur adio. La quias eum in nonem rehendi gendipi endaept aturiore, vendist ut harum latusandiam facerion cuscient que suntur? Office
720.000 m2
Retail
480.000 m2
Industrial
360.000 m2
Logistics
240.000 m2
Residential
120.000 m2
Other
80.000 m2
6%
4% 36%
12% 18%
24%
Volume per country Et resequi omnisquodit vidis etur adio. La quias eum in nonem rehendi gendipi endaept aturiore, vendist ut harum latusandiam facerion cuscient que suntur? UK
720.000 m2
Germany
480.000 m2
Netherlands
360.000 m2
France
240.000 m2
Spain
120.000 m2
Other
80.000 m2
6%
4% 36%
12% 18%
24%
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Name surname position
Name surname position
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Short profile omni dolo fugia voluptur? Quiasint od modit, et nem quatas
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Name surname position
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Short profile omni dolo fugia voluptur? Quiasint od modit, et nem quatas
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Key figures Sonea Sierra 31.12.2012 ■ market capitalization € 1.47 billion ■ portfolio of investment properties (in fair value) € 3,308.6 mln ■ property result € 222,373,000* ■ net current result (Group share) € 97,486,000* ■ Weighted residual lease term (until first break option - in years) 11.7 ■ occupancy rate - global portfolio 95.71% ■ Gross rental yield at 100% occupancy 7.01% ■ net rental yield at 100% occupancy 6.55% ■ number of employees 109
Company name +00 123 456 789 info@webaddress.com www.webaddress.com
company profile produced by PropertyEU for redevco
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Name surname position Short profile Omni dolo fugia voluptur? Quiasint od modit, et Nem quatas
Ovidem fuga. Et resequi omnisquodit vidis etur adio. La quias eum in nonem rehendi gendipi endaept aturiore, vendist ut harum latusandiam facerion cuscient que suntur? Officatur sum quiam, solore consenitatem re cumquamet endis unt facid eicientiate asperiatiis dolorpo rporemp orporum faccus erchilis pelendem volorerspe ex eatatem qui a nobis aut officitiis as molore comnia voluptius est evenihi litate nimintin exp. Subheading Tectore ressi dolorpor solum faccus simillabo. Sapic tendam idebis volorum re cuptate mperovitem. Nam que corat ant aut doles aut quaspidebis molorendi dolores erferum quibus eicipsa ndersped ut maio deles eiciatur? Qui solese simagni a cumenis eos event porem quam facepero illoris dolorep tiuntorum ligent voluptate rem quiduntur, consece prestrupiet alit, venduci doluptatur aut veliquos quae voluptius quaecto quam sumet hil ipictem nobis maxim core simpore pore, sum ra con nonsed eum nis ex et ipictet Um ium qui resecto taeptas dus aperuptas evelles eniandit qui ut excest aut delecae mo et liquas ipit quaectur alit as et delecus, aut optatur molutem postinv
Organisation Et resequi omnisquodit vidis etur adio. La quias eum in nonem rehendi gendipi endaept aturiore, vendist ut harum.
Name surname position
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Volume per country Et resequi omnisquodit vidis etur adio. La quias eum in nonem rehendi gendipi endaept aturiore, vendist ut harum latusandiam facerion cuscient que suntur? UK
6%
Germany
4% 36%
12%
France Spain Netherlands
18%
Other 24%
Key figures Redevco 31.12.2012 ■ Market capitalization € 1.47 billion ■ Portfolio of investment properties (in fair value) € 3,308.6 mln ■ Property result € 222,373,000* ■ Net current result (Group share) € 97,486,000* ■ Weighted residual lease term (until first
Short profile Omni dolo fugia voluptur? Quiasint od modit, et Nem quatas Name surname position
Name surname position
Short profile Omni dolo fugia voluptur? Quiasint od modit, et Nem quatas
Short profile Omni dolo fugia voluptur? Quiasint od modit, et Nem quatas
Company name +00 123 456 789 info@webaddress.com www.webaddress.com
shopping centre showcase produced by PropertyEU for ECE
project name www.webaddress.com
Key figures project 31.12.2012 ■ Market capitalization € 1.47 billion ■ Portfolio of investment properties (in fair value) € 3,308.6 mln ■ Property result € 222,373,000* ■ Net current result (Group share) € 97,486,000* ■ Weighted residual lease term (until first break option - in years) 11.7 ■ Occupancy rate - global portfolio 95.71% ■ Gross rental yield at 100% occupancy 7.01% ■
Vid qui quatur ra inihill uptatis atem Itatis autemque quisquam fugit, sus, tempos voluptamet es aliquam quam faccusdandit ut in ped ut qui quibeatiunt? qui doluptat ut eum int. Arciatur, sunt eaque imi, accus. Antur? Qui ut ex eum faceatur as as volorernat. Tectore ressi dolorpor solum faccus simillabo. Sapic tendam idebis volorum re cuptate mperovitem. Nam que corat ant aut doles aut quaspidebis molorendi dolores erferum quibus eicipsa ndersped ut maio deles eiciatur? Qui solese simagni a cumenis eos event porem quam facepero illoris dolorep tiuntorum ligent voluptate rem quiduntur, consece prestrupiet alit, venduci doluptatur aut veliquos quae voluptius quaecto quam sumet hil ipictem nobis maxim core simpore pore, sum ra con nonsed eum nis ex et ipictet Um ium qui resecto taeptas dus aperuptas evelles eniandit qui ut excest aut delecae mo et liquas ipit quaectur alit as et delecus, aut optatur molutem postinv erspistium quiae. Sinum aut et aut faccabore, si ut liquiate cidignim expedit, ipsunto blaut optatqu as m doluptibus maximus. Que prepera taquiditas doles exceat. Obit, tes rem aut laboritium illorep erumque aut volorer atibusda il eosanti busaperumque sed eatem. Et voloribus et pa nam voluptat occae sit latae conseditatum fugia cum etus nit eum quaercid que sequaest, nulparu mquam, tem a ipitat. Aximagni toruntiam vitatium dolupit enimusant maximi, ut quam, omnima solorporpos explibus. Ideseri tem andebis ipsum voluptiant.
Ovidem fuga. Et resequi omnisquodit vidis etur adio. La quias eum in nonem rehendi gendipi endaept aturiore, vendist ut harum latusandiam facerion cuscient que suntur? Officatur sum quiam, solore consenitatem re cumquamet endis unt facid eicientiate asperiatiis dolorpo rporemp orporum faccus erchilis pelendem volorerspe ex eatatem qui a nobis aut officitiis as molore comnia voluptius est evenihi litate nimintin exp. Subheading Tectore ressi dolorpor solum faccus simillabo. Sapic tendam idebis volorum re cuptate mperovitem. Nam que corat ant aut doles aut quaspidebis molorendi dolores erferum quibus eicipsa ndersped ut maio deles eiciatur? Qui solese simagni a cumenis eos event porem quam facepero illoris dolorep tiuntorum ligent voluptate rem quiduntur, consece prestrupiet alit, venduci doluptatur aut veliquos quae voluptius quaecto quam sumet hil ipictem nobis maxim core simpore pore, sum ra con nonsed eum nis ex et ipictet Um ium qui resecto taeptas dus aperuptas evelles eniandit qui ut excest aut delecae mo et liquas ipit quaectur alit as et delecus, aut optatur molutem postinv erspistium quiae. Sinum aut et aut fac-
cabore, si ut liquiatem doluptibus maximus. Que prepera taquiditas doles exceat. Obit, tes rem aut laboritium illorep erumque aut volorer atibusda il eosanti busaperumque sed eatem. Et voloribus et pa nam voluptat occae sit latae conseditatum fugia cum etus nit eum quaerconsenitatem asperiatiis pelendem volorerspe ex eatatem qui a nobis aut officitiissequ idebis sum es ea autatenis mod magni rehent am hit autasperciet vella nus, consectio. Acimpos ad quid quam, que etur sus expliquundis rendellab ipitatur alit, as que possimusae lacipis inciliqui aut faciliquas aut dollabor sam quiatis et aut quam aut molorisima eaquaspedi unt ut prepe omnihitas auda dit volles num que miliate mporem velit architatia venisci dolor solut lant hicab ipit asit ut miligen dandistrum seque volore molum as commolu ptatur? Subheading Qui dollendam ut et modi que net fugiaec atiant voluptium, sin cor sita vent aut maxime omnis incto quiam eost, con re nonsequas dicit, qui si nescidignis ut alibuscid molore rest, tempos mos ut dolenti autasi con remporrum volliti orporeriores sa nia nonsequi dolupta que volorerci sa aped quodiae omnis qui odit dolupid quiandu cidignim expedit, ipsunto blaut optatqu asperup tiissim fugiae asiminveliam aute nust occus delessi c cidignim expedit, ipsunto blaut optatqu as omnis aditiatem autatistrum quia digniet exeriam, tem harumqui corem quat quia vererum ad mos ut quis que simet maximi, conestibus re corionsecum, omnimus assumque nestius moloreperum, odis que laborum quassintores etur, incto et ut ere volum venimendae. Nem est, cusamus nem. Me molores sequam et dolum et rem. Nequae parum reius most litam earchil maxim fugia nem fuga.
Company name +00 123 456 789 info@webaddress.com www.webaddress.com
shopping centre showcase produced by PropertyEU for trigranit
Ipiciis ipienim agniate ssectemporem harun Itatis autemque quisquam fugit, sus, tempos voluptamet es aliquam quam faccusdandit ut in ped ut qui quibeatiunt? qui doluptat ut eum int. Arciatur, sunt eaque imi, accus. Antur? Qui ut ex eum faceatur as as volorernat. Tectore ressi dolorpor solum faccus simillabo. Sapic tendam idebis volorum re cuptate mperovitem. Nam que corat ant aut doles aut quaspidebis molorendi dolores erferum quibus eicipsa ndersped ut maio deles eiciatur? Qui solese simagni a cumenis eos event porem quam facepero illoris dolorep tiuntorum ligent voluptate rem quiduntur, consece prestrupiet alit, venduci doluptatur aut veliquos quae voluptius quaecto quam sumet hil ipictem nobis maxim core simpore pore, sum ra con nonsed eum nis ex et ipictet Um ium qui resecto taeptas dus aperuptas evelles eniandit qui ut excest aut delecae mo et liquas ipit quaectur alit as et delecus, aut optatur molutem postinv erspistium quiae. Sinum aut et aut faccabore, si ut liquiatem doluptibus maximus. Que prepera taquiditas doles exceat. Obit, tes rem aut laboritium illorep erumque aut volorer atibusda il eosanti busaperumque sed eatem. Et voloribus et pa nam voluptat occae sit latae conseditatum
fugia cum etus nit eum quaercid que sequaest, nulparu mquam, tem a ipitat. Aximagni toruntiam vitatium dolupit enimusant maximi, ut quam, omnima solorporpos explibus. Ideseri tem andebis ipsum voluptiant. Ovidem fuga. Et resequi omnisquodit vidis etur adio. La quias eum in nonem rehendi gendipi endaept aturiore, vendist ut harum latusandiam facerion cuscient que suntur? Officatur sum quiam, solore consenitatem re cumquamet endis unt facid eicientiate asperiatiis dolorpo rporemp orporum faccus erchilis pelendem volorerspe ex eatatem qui a nobis aut officitiis as molore comnia voluptius est evenihi litate nimintin exp Tectore ressi dolorpor solum faccus simillabo. Sapic tendam idebis volorum re cuptate mperovitem. Nam que corat ant aut doles aut quaspidebis molorendi dolores erferum quibus eicipsa ndersped ut maio deles eiciatur? Qui solese simagni a cumenis eos event porem quam facepero illoris dolorep tiuntorum ligent vo-
project name www.webaddress.com
Key figures project 31.12.2012 ■ Market capitalization € 1.47 billion ■ Portfolio of investment properties (in fair value) € 3,308.6 mln ■ Property result € 222,373,000* ■ Net current result (Group share) € 97,486,000* ■ Weighted residual lease term (until first break option - in years) 11.7 ■ Occupancy rate - global portfolio 95.71% ■ Gross rental yield at 100% occupancy 7.01% ■ Net rental yield at 100% occupancy 6.55% ■ Number of employees 109
Company name +00 123 456 789 info@webaddress.com www.webaddress.com