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Guangzhou Retail Marketbeat Sep 2019

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Guangzhou Retail Marketbeat Sep 2019 GUANGZHOU RETAIL SEP 2019 MARKETBEAT 4.63 ¥783.7 6.8% STOCK RENT VACANCY RATE (MILLION SQ M) (PSQM/ MO) Market Overview E c o n o m i c I n d i c a t o r s Past 12-Month In Q3 the Mayland Mall retail mall opened for business with 82,000 sqm, increasing citywide retail stock 1Q 2019 1H 2019 Growth to 4.63 million sq m. Taking advantage of summer holiday traffic, the week-long October holiday and the GDP Growth 7.5% 7.1% year-end season, retailers actively expanded and the overall vacancy rate decreased 0.5 percentage Total Retail Sales 7.7% 8.2% points q-o-q to 6.8%. Growth Online Retail Among the core submarkets, Tai Koo Hui is still the most attractive for brands, and has been the Sales Growth 12.3% 9.6% Guangzhou entry point for top jewelry brand Van Cleef & Arpels and high-end jacket brand MONCLER. CPI Growth 2.6% 3.0% In Parc Central, clothing brand lululemon will also open a new store. However, continuing economic Source: Guangzhou Statistics Bureau/Cushman & Wakefield Research uncertainty has to an extent slowed the pace of expansion of medium and high-end brands. In non-core submarkets, new stores were mainly mass-market brands. Panyu Aoyuan Plaza and Rock Square Retail Sales Growth Rate respectively introduced Heilan Home and OCE, while PERFECT DIARY entered New Park. 60% By category, F&B has been playing a greater role in recent months, with restaurant expansions taking 30% space in outer district projects. In the garment sector, traditional brands including NIKE, GIRDEAR and 0% 1-3Q 1-3Q 1-4Q 1-2Q 1-4Q 1-2Q 1-3Q 1-4Q 1-2Q 1-3Q 1-4Q 1-2Q 1-3Q 1-4Q 1-2Q AMASS expanded. Mobile device brand OPPO also picked up its expansion pace, with new stores in 1-2Q 1Q 2015 1Q 2016 1Q 2017 1Q 2018 1Q 2019 Grandview Plaza and Metropolitan Plaza. In the O2O sector, online platform Tmall’s Taobao Xinxuan 1Q 2014 Total Retail Sales Growth Rates will open a physical store in Poly Plaza as its debut in Guangzhou. Online Retail Sales Growth Rates Source: Guangzhou Statistics Bureau/ Cushman & Wakefield Research Prime Retail Supply Pipeline Outlook m) 1,000 sq 800 600 In Q4, five projects are expected to be completed: Kingbuy Jiahe and Kingbuy Taihe in Baiyun District, 400 (‘000 (‘000 200 Wanda Plaza in Haizhu District, and CADRE INCITY and HOPSON ONE in Zengcheng District; bringing 0 a total of around 598,000 sq m. We may see projects in Baiyun District gradually differentiate their GFA 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2020F 2021F 2022F operations and improve service quality to enhance passenger flow in response to fierce competition. 2019F A Cushman & Wakefield Sports Center Zhujiang New Town Yuexiu Research Publication Oppositely, two new projects in Zengcheng will complement the commercial roster of Xintang Block, Haizhu Liwan Baiyun Panyu Others which, together with Wanda Plaza opened last year, will boost the area’s comprehensive value. Note: F is for forecast www.cushmanwakefield.com Source: Cushman & Wakefield Research GUANGZHOU RETAIL MARKETBEAT SEP 2019 SHIRLING YUAN Prime Average Rental Range (Q3 2019) Associate Director Head of Research, SUBMARKET RMB/SQ M/MO US$/SF/MO EUR/SF/MO 12-MONTH OUTLOOK Central China 27/F, TaiKoo Hui Tower1, 385 Sports Center Tianhe Road, Tianhe District | 600-2,800 7.9 – 36.7 7.1 – 33.2 Guangzhou 510620 | China Tel: +86 20 8150 8191 Zhujiang New Town 400-1,200 5.2 – 15.7 4.7 – 14.2 [email protected] Yuexiu 560-1,250 7.3 – 16.4 6.6 – 14.8 Haizhu 350-970 4.6 – 12.7 4.1 – 11.5 Liwan 400-1,000 5.2 – 13.1 4.7 – 11.8 Baiyun 250-650 3.3 – 8.5 3.0 – 7.7 Panyu 200-500 2.6 – 6.6 2.4 – 5.9 * Rents are calculated by NLA and based on the ground floor in major shopping centers, excluding management fee, promotional fee and other fees. 1 USD = 7.08718RMB = 0.90361EUR as at August 23, 2019 S i g n i f i c a n t Store Openings (Q3 2019) PROPERTY SUBMARKET TENANT SECTOR OneLink Walk Sports Center STARBUCKS Coffee bar GT Land Plaza Winter Mall Zhujiang New Town Pony Running Children’s education R&F Icon Haizhu COUCOU hot pot Hot pot CapitaMall SKY+ Baiyun adidas Sportswear A Cushman & Wakefield Significant Projects Under Construction Research Publication PROPERTY SUBMARKET AREA (SQ M) COMPLETION YEAR Cushman & Wakefield (NYSE: CWK) is a leading global real estate Kingbuy Jiahe 120,000 2019 services firm that delivers exceptional value for real estate occupiers Baiyun and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices Haizhu Wanda Plaza Haizhu 70,000 2019 and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit CADRE INCITY Others 110,000 2019 www.cushmanwakefield.com or follow @CushWake on Twitter. www.cushmanwakefield.com Copyright © 2019 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from multiple sources considered to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy..
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