bucharest retail market 2014

Transcription

BUCHAREST
RETAIL MARKET 2014
transforming the world
of property services
BUCHAREST RETAIL MARKET 2014
Welcome to DTZ Echinox ‘Bucharest Retail Market 2014’. This guide’s
purpose is to provide a clear picture of the retail market in Bucharest,
offering data on modern retail properties across the city, along with
demographic and economic information.
The modern retail stock in Bucharest is of 902,000 sq. m, comprising 11* shopping centers, 7 retail parks and 5
commercial galleries. Shopping centers account for 54%, while retail parks and commercial galleries represent 35% and
11% from total retail stock. Compared with the modern retail stock outside Bucharest, where most of the space was
delivered between 2006 – 2008, in Bucharest more than 50% from the total retail stock– approximately 55% - was
delivered between 2008 – 2010.
We have analyzed Bucharest by district and we have used the same
information for all districts, in order to facilitate comparison.
Currently there are two shopping centers under construction in Bucharest: Mega Mall, with 72,000 sq. m of rentable
area, developed in the 2nd District scheduled for delivery in 2015 and Park Lake Plaza, developed in the 3rd District,
with a rentable area of 69,000 sq. m, expected to be delivered in 2016. Another modern retail scheme currently under
construction is Auchan Tricodava, commercial gallery located in the 6th District that will have upon completion in 2015
approximately 21,000 sq. m of rentable area.
Structure of Bucharest’s modern retail stock
shop units and parking places for each modern retail development;
1,200,000
 Information on prime rents;
11%
1,000,000
SC
 A list of modern retail schemes in operation by district.
35%
902,000
sq. m
Retail Parks
800,000
600,000
400,000
54%
Commercial Galleries
200,000
Existing stock (sq. m)
Source: DTZ Echinox
Source: DTZ Echinox
New supply (sq. m)
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
0
2000
We hope you will find the publication interesting and we encourage you
to access the wide variety of DTZ publications.
Modern retail stock in Bucharest 2000 - 2016
2006
 Information such as rentable surface, delivery date, major tenants,
*Including also Fashion House Outlet
2005
unemployment rate & income;
INTRODUCTION
2004
 Statistics for each district analyzed such as population,
2003
the main capitals in CEE;
Headline rent achieved for units of 100 sq. m in prime shopping centres in Bucharest is between € 50 - 70/ sq. m/
month, while for secondary shopping centers the headline rents for units of same size is between € 25 – 45/ sq. m/
month.
2002
 Bucharest economic environment, including a brief comparison with
2001
The guide includes, but is not limited to:
New supply 2015 – 2016 in CEE’s main capitals:
Bucharest
Warsaw
Prague
Budapest
largest city
2014 Modern retail stock (sq. m)
2015 Pipeline (sq. m)
2016 Pipeline (sq. m)
2016 Modern retail density / 1,000 inhabitants
1,750,000
1,200
1,500,000
1,000
Bratislava
1,250,000
2,000,000
800
1,000,000
600
1,500,000
750,000
400
500,000
1,000,000
200
250,000
500,000
0
0
Source: DTZ Echinox
Population
The city’s contribution to Romanian GDP last year was of 23%, not
surprisingly since Bucharest is the most developed in the country and one
of the main industrial centers and transportation hubs of Eastern Europe.
Bucharest has a modern retail stock accounting for more than 30% of
Romania’s total square meters of modern retail space. The first shopping
center and commercial galleries in the country were delivered in Bucharest
and presently is the only city in Romania that has a high end retail avenue.
However, the city continues to be behind CEE’s main capitals when it
comes to modern retail stock density per 1,000 inhabitants. As a direct
consequence, Bucharest is one of the hottest capital city in CEE in terms of
retail construction works, with a total volume of 187,000 sq. m planned
for delivery in the next two years.
OVERVIEW
0
Bucharest
Budapest
Prague
Warsaw
Source: DTZ Echinox
Major international clothing retailers no. of stores in CEE’s main capitals:
Warsaw
Prague
1999
2001
2004
2004
9
5
5
7
Warsaw
Prague
2003
2003
2005
2011
13
14
16
11
Source: DTZ Echinox
Budapest Bucharest
Warsaw
Prague
Year of entry
2001
1999
2002
2009
Number of stores
7
10
11
6
Warsaw
Prague
Year of entry
1998
1998
1999
2007
Number of stores
5
11
10
5
Budapest Bucharest
Budapest Bucharest
Budapest Bucharest
sq. m
Bucharest is the largest capital city in the CEE region and the
in the European Union by population.
6th
MAJOR INDICATORS 2014
MODERN RETAIL STOCK BY DISTRICT
Population*
Age structure 15 - 65 years*
Unemployment rate**
Average individual net income (€)***
Average family net income (€)***
1,883,425
2.04%
2*
0
0
0
0
2
45,500
45,500
3*
4
131,000
1
45,000
0
0
176,000
4
1
82,000
2
71,000
0
0
153,000
5
1
26,000
1
27,000
1
14,000
67,000
6*
3
138,000
1
51,500
2
42,500
232,000
Total
11
481,000
7
319,000
5
102,000
902,000
611
1,019
*Districts with modern retail schemes currently UC
RETAIL SPACE & MARKET CONDITIONS 2014
No. of shopping centers in operation
11
No. of retail parks
7
No. of commercial galleries
5
Prime shopping rents*
902,000
479
OVERVIEW
Source: DTZ Echinox
1st
District
228,500
sq. m
2nd
District
232,000
sq. m
6th
District
60
Big box retailers
Carrefour, Cora, Auchan, Metro,
Selgros, Kaufland, Kingfisher, BauMax,
Hornbach, Mr. Bricolage, Leroy Merlin,
Dedeman, Arabesque, Praktiker,
Mobexpert, Ikea, Kika, Jumbo
*Headline rent level achieved in dominant shopping centres for units of approximately 100 sq m
5th
District
67,000
sq. m
45,500
sq. m
3rd
District
60 - 70
No. of big boxex
Source: DTZ Echinox
Total no. of
Total GLA
sq. m)
0
0
DISTRICT
1
***Retail Metrics DTZ Echinox 2014
Total modern retail stock density (sq. m)
(per 1,000 inhabitants)
Retail parks
Total no. of
Total GLA
Retail Parks
(sq. m)
2
124,500
73%
*National Institute of Statistic
**National Agency for Employment (ANOMF) Feb 2014
Total modern retail space (sq. m)
Shopping centers
Total no.
Total GLA
of SC
(sq. m)
2
104,000
4th
District
153,000
sq. m
176,000
sq. m
TOTAL (sq. m)
228,500
1ST DISTRICT MODERN RETAIL STOCK
1ST DISTRICT MODERN RETAIL STOCK
MODERN RETAIL DEVELOPMENTS
Population*
Name
225,453
1 Baneasa Shopping City*
69%
Address
42 D
Bucuresti - Ploiesti Road
GLA sq. m Shop units Parking Year of Opening
66,000
250
2000
2008
Owner
Baneasa Developments
Major tenants: Inditex, H&M, Peek & Cloppenburg, Reserved, Noriel, Media Galaxy, Grand Cinema Digiplex
Unemployment rate**
Individual net income €***
Family net income €***
1.20%
2
797
1,177
3 Colosseum Retail Park
71,500
2000
2008
Carrefour, Mobexpert,
Ikea, Kingfisher
284 Chitilei Road
53,000
50
2370
2011
Nova Imobiliare
38,000
143
1200
2013
Raiffeisen Evolution
Major tenants: Carrefour, Leroy Merlin, Altex, JYSK
4
st
1
2
No. of retail parks
2
DISTRICT
Promenada
246 B
Barbu Vacarescu St.
Major tenants: Billa, Inditex, Peek & Cloppenburg, New Yorker, H&M, Humanic, Hervis, C&A, Altex, Flanco
*Commercial gallery Feeria also included
Source: DTZ Echinox
228,500
1,014
65 - 70
No. of big boxex
11
Big box retailers
Carrefour (2), Metro, Selgros, Kaufland,
Brico Dépôt, BauMax, Leroy Merlin,
Arabesque, Mobexpert, Ikea
Source: DTZ Echinox
44 D
Bucuresti - Ploiesti Road
Major tenants: Mobexpert, Ikea, Bricostore, Carrefour
Baneasa Retail Park
1
4
2ND DISTRICT MODERN RETAIL STOCK
2ND DISTRICT MODERN RETAIL STOCK
Population*
Unemployment rate**
345,370
1
73%
2
589
927
Address
GLA sq. m
Shop units
Parking
Year of Opening
Owner
Mega Mall*
3-5
Pierre de Coubertin Blvd.
72,000
200
2,200
2015
NEPI
32,000
55
2,200
2003
Catinvest &
Cora
13,500
7
300
2012
Intercora
Major tenants: Carrefour, Inditex, Cinema City, H&M, C&A, Altex
1.02%
Name
Esplanada
20 Vergului St.
Major tenants: Cora, Flanco, Noriel, Mobexpert
3 Intercora Mihai Bravu
Major tenants: Kaufland, Domo, Takko, Deichmann, DM, Lem's
nd
2
No. of shopping centers U/C
1
2
DISTRICT
*Under construction
Source: DTZ Echinox
45,500
132
50 - 60
No. of big boxex
11
Big box retailers
Carrefour, Cora, Kaufland (3), Selgros,
Parktiker, Brico Dépôt, Dedeman
Mobexpert (2)
Source: DTZ Echinox
319 Mihai Bravu Blvd.
1
2
3
3RD DISTRICT MODERN RETAIL STOCK
3RD DISTRICT MODERN RETAIL STOCK
Population*
73%
Unemployment rate**
1.3%
580
982
1
2
Liviu Rebreanu St.
GLA sq. m Shop units
Parking
Year of Opening
Owner
Sonae Sierra/
Caelum
Development/
Carrefour
69,000
200
2,700
2016
51 G Theodor Pallady St.
45,000
50
2,500
2010
Metro Imobiliare
Investment
44,000
200
500
Refurbished
in 2000
Nova Trade
40,500
140
1,850
1999
Anchor Group
120
1,700
2008
2011 Refurbished
Aberdeen
Immobilien
76
200
2010
Cocor SA
Major tenants: Auchan, Metro, Decathlon, Jumbo
3 Unirea Shopping Center
1 Unirii Square
Major tenants: Mega Image, Inditex, H&M, Flanco, Altex
rd
3
4
No. of shopping centers U/C
1
No. of retail parks
1
Park Lake Plaza*
Pallady Retail Park
Address
Major tenants: Carrefour, Inditex, H&M
Name
385,439
DISTRICT
4
Bucuresti Mall
Major tenants: Mega Image, Inditex, H&M, Media Galaxy, Hollywood Multiplex
5
Iris Shopping Center
Cocor Store
6
No. of big boxex
10
Big box retailers
Carrefour, Auchan (3), Kaufland, Metro,
Mr. Bricolage, Arabesque, Parktiker,
Jumbo
Source: DTZ Echinox
36,500
29 - 33
I.C. Bratianu Blvd.
10,500
Major tenants: Terranova, Billa,Steilmann, Romanian DesignersGallery
*Under construction
Source: DTZ Echinox
2
45 - 50
33 A
1 Decembrie 1918 Blvd.
Major tenants: Auchan, C&A, H&M, CCC, New Yorker, Deichmann, Flanco
176,000
458
55-59 Vitan Avenue
3
4
4TH DISTRICT MODERN RETAIL STOCK
Population*
Name
287,828
74%
Unemployment rate**
1.4%
1
Sun Plaza
Address
391
Vacaresti Avenue
GLA sq. m
Shop units
Parking
Year of Opening
Owner
82,000
170
2,000
2010
S IMMO AG
800
2008
Revetas Capital
2,000
2009
Euroinvest Intermed
Major tenants: Flanco, Cora, Inditex, H&M, New Yorker, C&A, Cinema City
2
630
Vitantis
7A
Vitan - Barzesti Road
39,000
56
Major tenants: Carrefour, Intersport, Praktiker, Takko, Kenvelo, Domo, Casa Rusu
1,046
3
Grand Arena
12-18
Metalurgiei Blvd.
32,000
180
Major tenants: Carrefour, Flanco World, Decathlon, Intersport, Deichmann, Sephora
Source: DTZ Echinox
th
4
1
No. of retail parks
2
153,000
532
40 - 45
No. of big boxex
11
Big box retailers
Carrefour (2), Cora (2), Auchan, Metro,
Kaufland, Selgros, BauMax, Hornbach,
Dedeman
Source: DTZ Echinox
DISTRICT
1
2
3
Population*
Unemployment rate**
Name
271,575
1
75%
Vulcan Value Center
Address
88
Scriitor Mihail
Sebastian St.
GLA sq. m
Shop units
Parking
Year of Opening
Owner
27,000
50
900
2014
NEPI
120
600
2008
Greek Bank
Consortium
40
980
2012
Cora
Major tenants: Carrefour, C&A , H&M, Takko, New Yorker, Hervis, Domo, Noriel, JYSK
1.15%
546
2
Liberty Center
151-171
Progresului St.
26,000
1,031
Major tenants: Billa, Adidas, Deichmann, CCC, Kenvelo, Leonardo, Altex
3
th
5
1
No. of retail parks
1
1
67,000
247
25 - 30
No. of big boxex
3
Big box retailers
Carrefour, Cora, Kaufland
Source: DTZ Echinox
Cora Alexandriei
152 Alexandriei St.
Major tenants: Cora, Altex
DISTRICT
Source: DTZ Echinox
2
3
14,000
Population*
367,760
Name
1 AFI Palace Cotroceni
74%
Address
GLA sq. m
Shop units
Parking
Year of Opening
Owner
4 Vasile Milea Blvd.
76,000
250
2,500
2009
AFI Group
2009
Atrium
European RE
Major tenants: Auchan, Inditex, H&M, Sephora, C&A, New Yorker, Intersport, Cinema City, IMAX
Unemployment rate**
1.05%
2
589
1,032
3
Plaza Romania
4
3
No. of retail parks
1
2
No. of commercial galleries U/C
1
232,000
630
65 - 70
No. of big boxex
14
Big box retailers
Carrefour (2), Cora, Auchan (2),
Kaufland, Metro, Selgros, Brico Depot,
Arabesque, Dedeman, Parktiker, Kika,
Mobexpert
Source: DTZ Echinox
51,500
100
2,500
26 Timisoara Blvd.
48,000
150
2,000
2004
Anchor Group
Major tenants: Mega Image, World Class, Inditex, H&M, Mango, Adidas, Nike, Sephora
546-560
Iuliu Maniu Blvd.
Major tenants: Auchan, Decathlon, C&A, Imaginarium, New Yorker. Humanic, Hervis, Leonardo, Deichmann, Media Galaxy, Praktiker
Militari Retail Park
th
6
DISTRICT
Cora Lujerului
19 Iuliu Maniu Blvd.
23,500
45
1,700
2005/2008
Cora
25 Brasov St.
21,000
N/A
2,000
2015
Immochan
210-210B
Splaiul Independentei
17,000
50
1,400
2003
Catinvest &
Carrefour
2,700
2008
Liebrecht & WooD
Major tenants: Cora,
Auchan Tricodava*
5
Major tenants: Auchan
6
Carrefour Orhideea
Major tenants: Carrefour, Kenvelo, Lee Cooper, Deichmann, Takko, Time Out, Flanco
7 Fashion House Outlet
A1 Highway Entrance
14,000
60
Major tenants: Puma, Otter, Stefanel, Lee Cooper, Adidas, Franco Feruzzi
*Under construction
Source: DTZ Echinox
1
3
6
?
1st Shopping Center in
Bucharest
Bucuresti Mall
Delivered in 1999
3rd District
?
Largest Shopping Center
in Bucharest
Sun Plaza
With 82,000 sq. m GLA
4th District
Largest Retail Park
in Bucharest
Baneasa Retail Park
With 71,500 sq. m GLA
1st District
The district with the
highest density of retail
spaces (sq. m) / 1,000
inhabitants
1st District
With 1,013 sq. m
?
?
?
lowest density of retail
spaces (sq. m) / 1,000
inhabitants
2nd District
With 132 sq. m
2nd District
?
2nd, 3rd &
6th District
?
largest retail stock in
Bucharest
6th District
With 232,000 sq. m
6th District
Source: DTZ Echinox
Age structure
15 -65 years*
Unemployment
%**
Individual net income
(€)***
Family net income
(€)***
1
225,453
69%
1.20%
797
1,177
2
345,370
73%
1.02%
589
927
3
385,439
73%
1.30%
580
982
4
287,828
74%
1.40%
630
1,046
5
271,575
75%
1.15%
546
1,031
6
367,760
74%
1.05%
589
1,032
2nd, 3rd &
6th District
Districts with more than 2
Shopping Centers
Population*
1st District
Districts with modern
retail schemes UC
?
District
3rd & 6th District
3rd & 6th
District
CONCLUSIONS
District
SC
Retail Parks
Commercial
Galleries
Modern retail space
(sq. m)
Retail density (sq. m)/
1,000 inhabitants
Prime SC
Rents (€)
Big boxes
1
2
2
-
228,500
1,013
65 - 70
10
2
-
-
2
45,500
132
50 - 60
11
3
4
-
1
176,000
458
45 - 50
11
4
1
2
-
153,000
532
40 - 45
11
5
1
1
1
67,000
247
25 - 30
3
6
3
2
1
232,000
630
65 - 70
14
Source: DTZ Echinox
DEFINITIONS
COMMERCIAL GALLERY – A modern retail scheme with minimum 5,000 sq. m of GLA, anchored by a hypermarket with a rentable
area that exceeds the total rentable area of the retail scheme;
SHOPPING CENTER – A modern retail scheme with a commercial gallery of minimum 5,000 sq. m GLA that has a rentable area
exceeding the hypermarket / supermarket’s rentable area;
RETAIL PARK – Modern retail schemes with over 5,000 sq. m GLA, representing other than shopping center or commercial gallery
retail formats.
DISCLAIMER
This report should not be relied upon as a basis for entering into transactions without seeking specific, qualified, professional
advice. Whilst facts have been rigorously checked, DTZ Echinox can take no responsibility for any damage or loss suffered as a
result of any inadvertent inaccuracy within this report. Information contained herein should not, in whole or part, be published,
reproduced or referred to without prior approval. Any such reproduction should be credited to DTZ Echinox.
© DTZ Echinox October 2014
DTZ Echinox
General Contact
Banu Antonache Office Center,
40-44 Banul Antonache Street, 3rd Floor
Bucharest, district 1, Romania
Phone: +4021 310 3100
Facsimile: +4021 313 9010
www.dtz.com/ro / www.dtzresearch.ro
DTZ Echinox Contacts
Management
Retail Agency
Oana Iliescu
Bogdan Marcu
Phone: +4021 310 3100
Phone: +4021 310 3100
Email: oana.iliescu@dtz.ro
Email: bogdan.marcu@dtz.ro
Investment
Research
Razvan Sin
Mihaela Galatanu
Phone: +4021 310 3100
Phone: +4021 310 3100
Email: razvan.sin@dtz.ro
Email: mihaela.galatanu@dtz.ro
© DTZ Echinox October 2014

bucharest retail market 2014

Transcription

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