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ISTANBUL Cushman & Wakefield Global Cities Retail Guide

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ISTANBUL Cushman & Wakefield Global Cities Retail Guide ISTANBUL Cushman & Wakefield Global Cities Retail Guide Cushman & Wakefield | Istanbul | 2019 0 Istanbul is one of the world’s unique cities, spanning two continents. Its strategic location bridging Europe and Asia has made it a regional powerhouse and a hub for international diplomacy, business and finance. With its blend of ancient history and modern life, Istanbul is a city that never sleeps. The city is separated by the Bosphorus, which connects the Black Sea to the Marmara Sea, and is the busiest shipping lane in the world. Istanbul is the largest city in Turkey and is a favourite tourist destination for millions each year. Istanbul is also home to the oldest and largest shopping centre in the world - The Grand Bazaar. There are over 4,000 stores some dating back to 1453. Istanbul currently has 123 shopping centres and another 16 approved or under construction for opening between 2019-2021. There are 3 main high street areas in Istanbul; Nisantasi and Istiklal on the European side and Bagdat Street on ISTANBUL the Asian side. In addition, secondary streets have also become attractive for retailers. Transformation projects and urban regeneration activities still remain, albeit at a OVERVIEW slower pace, to create alternative high streets in central areas with strong accessibility and ongoing recovery will further accelerate in all three high streets. Cushman & Wakefield | Istanbul | 2019 1 ISTANBUL KEY RETAIL STREETS & AREAS NISANTASI AREA BAGDAT STREET (ASIAN SIDE) Abdi Ipekci Street is Istanbul’s prime high street and is Bagdat Street, located on the Asian side of Istanbul, hosts home to numerous luxury and high-end national and both luxury and high-end international brands as well as a international fashion brands. full range of international and national retailers including several department stores. The street is also home to a ISTIKLAL STREET large selection of eateries, coffee shops and pastry shops. Istiklal is Istanbul’s busiest pedestrianised street, home to THE GRAND BAZAAR many international and national retailers as well as museums, restaurants, theatres and consulates. The Grand Bazaar continues to be a favourite destination for locals and tourists alike. There are over 4,000 stores in this ancient market place as well as many authentic Turkish restaurants. No trip to Istanbul is complete without a visit to the Grand Bazaar. Cushman & Wakefield | Istanbul | 2019 2 ISTANBUL MARKET OVERVIEW KEY AREAS / CONSUMER MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT RANGE OF STREETS/SHOPPING PROFILE FOR UNIT OF 200 UNIT SIZES CENTRES SQM Nisantasi (High Street) Local shoppers mainly Chanel, Louis Vuitton, Gucci, Emporio Pandora, Intimissimi, Atelier $120 per sqm per 80 to 2000 sqm from high SES groups, Armani, Zegna, Max Mara, Tiffany Co., Rebul, Gizia, Galvin month tourists Hermes, Marks & Spencer, MAC, Jo Restaurant Malone, Tods, Starbucks, Café Nero, Godiva, Tom Ford, Lanvin, Alexander McQueen, Zadig & Voltaire, Stefano Ricci Istiklal (High Street) Local shoppers mainly GAP, Levi's, The Body Shop, Mango, Kiko Milano, Watsons, $140 per sqm per 80 to 3000sqm from all SES groups, Swatch, Clinique, MAC, Starbucks, Chillbox, month tourists Swarovski, Bershka, Café Nero, H&M, Sun Glass Hut, Kiehl’s, Skechers, Vans, Watson’s, Bagdat (Asia, High Street) Local shoppers mainly Louis Vuitton, Tommy Hilfiger, Rolex, Nine Chanel, Samsung, Vitra, $130 per sqm per 80 to 3000sqm from high SES groups, West, Laura Ashley, Zara, Mango, GAP, Cookshop month business men & women, Marks & Spencer, Lacoste, Starbucks, tourists Godiva, Café Nero, Le Pain Quotidien, Skechers, New Balance Istinye Park Shopping Local shoppers mainly Chanel, Miu Miu, BCBG, Hugo Boss, Huawei, Cacharel, Kiehl’s, $130 per sqm per 80 to 7500sqm Centre from high SES groups, Jimmy Choo, Michael Kors, H&M, Marks & Swatch, Ipekyol month business men & women, Spencer, Zegna, Prada, Armani, LVMH, tourists Folli Follie, Hublot, Caribou Coffee Cevahir Shopping Centre Local shoppers mainly Debenhams, Tchibo, Zara, Mango, N/A $90 per sqm per 80 to 7500sqm from middle SES groups, Mothercare, Swatch, Nine West, Victoria’s month business men & women, Secret, Starbucks, Massimo Dutti, Pull & tourists Bear Palladium (Asia) Local shoppers mainly Marks & Spencer, Michael Kors, Bebe, H&M, Vatan, Bej, Mudo, $85 per sqm per 80 to 7500sqm from high and medium Guess, MAC, Samsonite, Mothercare, Sunglasshut, Calzedonia, month SES groups, business Nike, Armani Jeans, Tommy Hilfiger, Gant, Ecco, Intimissimi men & women, tourists Burberry, Zara, Sephora Kanyon Local shoppers mainly Massimo Dutti, Zara Home, Harvey Walter’s Coffee, The Steeve, $110 per sqm per 80 to 5000sqm from high SES groups, Nichols, Bebe, Banana Republic, Bally, Lego month business men & women, Superstep, Yargici, MAC, Accessorize, Le tourists Pain Quotidien Cushman & Wakefield | Istanbul | 2019 3 ISTANBUL MARKET OVERVIEW KEY AREAS / CONSUMER MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT RANGE OF STREETS/SHOPPING PROFILE FOR UNIT OF 200 UNIT SIZES CENTRES SQM Mall of Istanbul Local shoppers mainly Debenhams, Decathlon, H&M, Zara, Rossmann, Samsonite, $45 per sqm per 80 to 10000sqm from all SES groups, Victoria’s Secret, Inditex Group, Benetton Nautica month tourists Zorlu Center Local shoppers mainly Louis Vuitton, Prada, Miu Miu, Eatly, Zara, Happy Moon’s $130 per sqm per 80 to 3000sqm from high SES groups, Tommy Hilfiger, H&M, Victoria’s Secret, month business density, tourists CK Jeans, Faconable, Brooks Brothers, Beymen, Apple, Nautica, GAP, New Balance, Superdry, Macro Center Akasya Mall Local shoppers mainly Burberry, Beymen, Kidzania, Victoria’s Bella Maison, Kasap Döner, $110 per sqm per 80 to 5000sqm from high SES groups, Secret, Brooks Brothers, Inditex, Hacckett, Fakir, Karaca, Daniel month tourists Armani, Long Champ, Michael Kors Wellington, Bluemint, Zuhal Music Emaar Square Local shoppers mainly Kidzania, Hamley’s, Victoria’s Secret, Chillbox, Fabiana Filippi, $90 per sqm per 30 to 3000sqm from high SES groups Hackett and Brooks Brothers Divarese, E-bebek, Joker month baby Vadistanbul Local shoppers mainly Adidas, Atasun, Arby’s, Atasay, Bershka, Xiaomi Mi, Dospresso, $90 per sqm per 30 to 5000sqm from high SES groups Big Chefs, Birkenstock, Calzedonia, Brandhat, Jack&Jones, month Columbia, Diesel, Guess, Hummel, M&S, Armani Exchange, MAC Lacoste, Sephora, Miniso, Vakko Zara, Shake Shack Forum Istanbul Local shoppers mainly Adidas, Atasay, Bershka, Boyner, H&M, Kitikate, Xiamoi Mi, Jimmy $90 per sqm per 30-9000sqm from middle SES groups Gratis, Hummel, IKEA, Kiko Milano, Koton, Key month Mango, Oysho, Zara Cushman & Wakefield | Istanbul | 2019 4 ISTANBUL SHOPPING CENTRES ISTINYE PARK ZORLU CENTER (EUROPEAN SIDE) Istinye Park continues to be the most sought-after retail Located in the centre of the city, Zorlu Centre offers its location in Istanbul: hosting luxury and high-end customers a wide range of brands from luxury designers international brands as well as a full range of international to international and local retailers. It has prestigious and local retailers, having a large entertainment area international restaurants and cafes and a performance together with restaurants for all budgets. hall. Zorlu Centre has become a prominent destination for new market entries, such as Apple and Eataly. CEVAHIR SHOPPING CENTRE Cevahir Shopping Centre is a close second in terms of its popularity. Although, it does not have high-end luxury MALL OF ISTANBUL (EUROPEAN SIDE) brands, its mix of international and local retailers as well Located close to the Ataturk Airport, Mall of Istanbul is the as food and entertainment facilities, proves a great draw largest shopping centre on the European side of Istanbul. for customers. Located on a subway stop, the shopping It is a mixed use project consisting of residential property, centre benefits from its positioning within one of the office space and a hotel. It has 155,000 sq. m GLA and busiest business and residential locations in Istanbul. opened in May 2014. PALLADIUM CENTRE (ASIAN SIDE) EMAAR SQUARE (ASIAN SIDE) This prime shopping centre on the Asian side of Istanbul has international and local brands, as well as eateries and Emaar Square opened its doors on April 28, 2017. The a cinema. occupancy rate at opening was low, but it is increasing day-by-day. At a single location, Emaar Square offers a AKASYA SHOPPING CENTRE (ASIAN brand mix that can cater to any budget or taste. The shopping centre has both indoor and outdoor shopping SIDE) venues. The centre also has a multi-storey cinema with 2,400 seat capacity, the first 4DX theatre on the Asian Akasya shopping centre, part of a mixed use project, is side, an aquarium and an underwater zoo with terraces located on the Asian side of Istanbul and opened its doors and entertainment areas. Galeries Lafayette’s first store is in March 2014. With 80,000 sq. m GLA it has become one located in Emaar Square. of the most successful shopping centres in Istanbul, partially due to its direct connection to both the subway and metrobus. It has a range of international and local retailers from luxury to affordable brands. Some international brands present include Kidzania, Hamley’s, Victoria’s Secret, Hackett and Brooks Brothers. Cushman & Wakefield | Istanbul | 2019 5 DEVELOPMENT TO WATCH OUT FOR GALATAPORT Total Size (sq.m) 390,672 - Retail GLA 58,644 Planned Opening Date 2020 Consumer Profile Local shoppers, businesspeople, residents and tourists ABOUT THE DEVELOPMENT Galataport Project is a city project with a master plan coherent with the neighbourhood texture of the Karaköy region and İstanbul. With the new port, the Karaköy coastline, which is currently closed to public access, will be transformed into a promenade open to public, connecting the city with the sea. Through small streets planned between the buildings, visual and physical access to the Bosphorus will be enabled. ISTANBUL NEW DEVELOPMENT WATCH Cushman & Wakefield | Istanbul | 2019 6 ISTANBUL FOOD & BEVERAGE While the city itself sits on two Nusr-Et is one of the most premium steakhouses you can continents it is also a city of seven hills, visit in Istanbul.
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