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MADRID Cushman & Wakefield Global Cities Retail Guide

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MADRID Cushman & Wakefield Global Cities Retail Guide MADRID Cushman & Wakefield Global Cities Retail Guide Cushman & Wakefield | Madrid | 2019 0 The retail market in Madrid has two major hubs (Centro and Salamanca districts) where the greatest concentration of both national and international retailers can be found. There are also a number of key secondary locations including Princesa, Orense and Alcala Streets. The City of Madrid continues to renew itself and adapt to changing trading environments, such as the recent refurbishment along Serrano Street with improved pedestrian mobility. At the Centro district many streets have also seen the refurbishment of buildings and changing uses in order to accommodate new brands in the city centre, where in the past it has been difficult to find good quality retail space as well as suitable hospitality spaces. Barrio de Salamanca is one of the two most important commercial areas of Madrid. A considerable number of international retailers are located in this area. As a result, the diversity of the retail offer in this area makes it an ideal destination for tourists and customers seeking the many brands that trade here. Within the district there are key luxury streets, such as Ortega y Gasset, and also streets geared towards mass market, including Goya and Velázquez. Along the secondary streets, such as Claudio MADRID Coello, Lagasca, Jorge Juan and Ayala, a large number of premium brands also have a strong presence. Serrano acts as the main commercial artery of the neighbourhood OVERVIEW with the important luxury, premium and mass market brands concentrated along its two sidewalks. Barrio de Salamanca offers a wide mixture of commercial, cultural and gastronomic supply. Cushman & Wakefield | Madrid | 2019 1 MADRID KEY RETAIL STREETS & AREAS CENTRO DISTRICT The prime high streets in this area are Gran Via, Preciados, Mayor, Arenal, Fuencarral, Carmen, Montera and Puerta del Sol. Some of the largest and most commercial brands from all sectors (fashion, services, hotels, cinemas, restaurants and theatres) have a presence in this area. The Centro district is the largest area of the city both in terms of tourism activity and commercial and cultural significance. BARRIO DE SALAMANCA An area with the highest purchasing power of the city and therefore home to many well know and prestigious brands within the luxury, mass market and high-end fashion sectors. Streets such as Serrano, Ortega y Gasset, Goya, Claudio Coello, Ayala, Hermosilla, Lagasca and Jorge Juan are the most popular. Cushman & Wakefield | Madrid | 2019 2 MADRID MARKET OVERVIEW KEY AREAS/ CONSUMER MAJOR RETAILERS TYPICAL RENT RANGE OF UNIT NEW ENTRANTS STREETS PROFILE PRESENT FOR 200 SQM UNIT SIZES Zara, Blanco, Mango, Intimissimi, Preciados Mass Market Calzedonia, Desigual, FNAC, El Antoinette, Change Money €270/ sqm/ month 20 – 3,000 sqm Corte Inglés, Bershka. Zara, Massimo Dutti, Bershka, Goya Mass Market Calzedonia, Kiko, Vodafone, Ikea, Primor, Rituals, McDonald’s €170/ sqm/ month 20 – 2,000 sqm Aristocrazy, El Corte Inglés. Billabong, Maje, Gas, Kiehl´s, Desigual, Foot-Locker, North Jimmy Lion, Lateral, Pompeii, Fuencarral High End, Mass Market €190/ sqm/ month 40 –700 sqm Face,Quiksilver, Pepe Jeans, El Umber Shoes Ganso. Zara, H&M, Mango, Nike, Real Scalpers, Avis, Rituals, Scalpers, Gran Vía Mass Market Madrid, Pull & Bear, New Balance, €265/ sqm/ month 40 – 4,000 sqm Huawei Kiko, Springfield. Princesa Mass Market Zara, Mango, Uno de 50, Amichi. Wagamama, Singularu, Alborto €95/ sqm/ month 30 – 3,000 sqm Escada, Hermes, Cartier, Tiffany’s, Valentino, Abercombie & Fitch, Ortega y Gasset Luxury Celine, Philipp Plein, Chaumet €220/ sqm/ month 40 – 1,000 sqm Kuoni, La Perla, Dolce & Gabbana, Jimmy Choo, Tod’s, Bulgari. Loewe, Chopard, Salvatore Ferragamo, Max Mara, Adolfo Domínguez, Versace, Aristocrazy, Pandora, Ba&Sh, Alfaro 1926, Serrano Luxury, High End Swarovski, Breitling, Rimowa, Uno €270/ sqm/ month 40 – 5,000 sqm Kering de 50, Zara, Massimo Dutti, Uterqüe, Hoss Intropia, El Corte Inglés, Coach, Max & Co. Cushman & Wakefield | Madrid | 2019 3 MADRID SHOPPING CENTRES MADRID – XANADÚ ISLAZUL Opened in 2003, it has 220 retail units, totalling circa Located to the south of Madrid with 90,700 sqm of GLA, 153,000 sqm of GLA. The main anchors are Hipercor, and more than 4,100 parking spaces, Islazul is one of Tiendas el Corte Inglés, together with Primark, H&M, Zara Madrid’s major retail destinations, welcoming more than and Mango. Xanadú was one of the first modern shopping 10 million visitors annually. Tenants include all the major centres to open in Madrid and benefits from a large leisure retail brands operating in Spain such as Primark, H&M, component, including an indoor ski slope, known as Zara, C&A and Mango. Madrid Snow Zone, together with a 15 screen cinema complex. PLAZA NORTE 2 Plaza Norte 2 shopping centre is located in San Sebastián LA VAGUADA de los Reyes, near the north edge of the city. It has La Vaguada located north of Madrid opened in 1983 and it 51,500 sqm GLA distributed across 3 levels and 220 units, was the first shopping centre to open in the city. This and it offers a good mix of national and international scheme has a total of 260 retail units and restaurants, brands along with 7,500 sqm of parking space. This including El Corte Ingles, Alcampo supermarket, C&A, shopping centre is affectionately known as la cúpula de Zara, Cortefiel and Sfera. Madrid (Madrid's dome) because of the spectacular 35- metre high dome located above the centre of the building. PARQUESUR Located to the south of the city, Parquesur opened in PLAZA RIO 2 1989 and offers more than 150,000 sqm of retail floor Located close to central Madrid and along the River space. The anchors are Alcampo and El Corte Inglés. The Manzanares, Plaza Rio 2 opened in Autumn 2017, with mall provides a range of national and international 40,000 sqm of GLA. The scheme has a mix of retail and retailers such as Primark, Zara, Fnac, Superdry, H&M, leisure, with a strong fashion, F&B, leisure and Desigual and Nike. In 1991 it received a European Design entertainment offer. Key retailers are H&M, Guess, Award. Armani Exchange, Mango, Zara and Levi’s. PLENILUNIO Plenilunio is a successful shopping centre in Madrid, it opened in 2006 with a total of circa 70,000 sqm GLA. The mall provides a range of national and international retailers across 200 units. Cushman & Wakefield | Madrid | 2019 4 MADRID FOOD & BEVERAGE Spain is well known for the quality Zona Centro: La Latina, Cava Baja, Plaza de Santa Ana are areas in high demand for restaurants. and diversity of its food. Most likely for this reason, the market has been Chueca/ Barquillo: home to some independent, alternative fashion brands and many good quality restaurants. somewhat slower than other Genova Area: restaurant chains and major food & countries in introducing foreign beverage brands are present in the area. cuisine, although in the past few AZCA/Castellana (Orense, Paseo de la Habana, Sor years this has changed considerably. Angela de la Cruz, Paseo de la Castellana and Capitan In addition to seeing an increase in restaurants from other Haya) is the financial area of the city and for this reason is Spanish regions, the concepts that are becoming most also home to a wide supply of food and beverage popular are healthy fast food and oriental cuisine, in operators. particular Japanese food. The gourmet hamburger Barrio de Salamanca being the most exclusive residential concept is also gaining traction in the market. More area, and an important office location, is also home to a recently a number of new fine dining concepts have been wide supply of restaurants. created by professionals who previously worked in Michelin star restaurants and have now set up their own There is also a new trend which has been popping up independent restaurants. This has given way to an recently known as the “gourmet markets”, notably the San industry that is booming. Madrid has successfully Miguel and San Antón markets in the centre of Madrid, or expanded its cuisine supply by importing concepts from Isabela on Paseo de la Habana. Most recently the largest around the world without impacting on its tradition of fine project of this kind that has opened is called Platea, dining. located just off Paseo de la Castellana in the Salamanca district. Cushman & Wakefield | Madrid | 2019 5 MADRID FOOD & BEVERAGE MARKET OVERVIEW FOOD & BEVERAGE RENT FOR 350 SQM KEY AREAS CONSUMER PROFILE OPERATORS UNIT ME Restaurant & Lounge Bar Botin, La Camarilla, Negro La Latina/ Longstanding entertainment de Anglona, El Viajero, Casa €30-90/ sqm/ month Cava Baja/ area. Cosmopolitan and tourism Lucío, Mercado de San Plaza de Santa Ana spot. Miguel, Posada de la Villa, La Sureña, Cervecería Santa Ana. Tagliatella, Miss Sushi, Chueca/ Barquillo Edgy, trendy, important nightlife. €25-50/ sqm/ month Makkila Executive area during the week. Wagamama, Rodilla, Fosters Genova Youth at weekends due to fast Hollywood, Mahou. €60-80/ sqm/ month food chains. CBD and a fashionable district TGB, Mas que menos, Azca/ Castellana for upmarket restaurants and Faborit New York Burguer, €30-70/ sqm/ month offices. Lateral, Honest Greens. Ten con Ten, Vicook, La CBD and a fashionable district Maruca, El Paraguas, Gordo, Barrio de Salamanca for upmarket restaurants, offices Capuccino, Ramses, Oter €30-120/ sqm/ month and tourists Epicure, Taberna Quintin, Los Gallos, Dingo Cushman & Wakefield | Madrid | 2019 6 MADRID RETAIL WAREHOUSING/BIG BOX RETAIL LA DEHESA PLAZA NUEVA La Dehesa retail park opened in 2002 with 9,400 sqm of This retail park is located in the southern part of Madrid, GLA. It is located in Alcalá de Henares northeast of Leganés. With 51,600 sqm of GLA, the scheme opened in Madrid and has 8 commercial units and 350 parking 2009.
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