SHANGHAI Retail Market Report

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SHANGHAI Retail

market report

上海商铺报告

Knight Frank 萊坊

Q4 2012 retail 二零一二年第四季商铺

Q 4 2012 shanghai retail Quarterly

highlights

In the fourth quarter, the Outlook As most new supply will performance of Shanghai’s retail be concentrated in core market saw both positive and We are optimistic about the Shanghai negative factors. On the one hand, retail real estate market in 2013 as a retail areas in 2013, we consumers demonstrated strong number of mid to high-end shopping expect prime retail rents malls are planned for opening in core desire to spend during the holiday will continue their upward season as all retail stores witnessed areas of the city and demand is set to year-on-year increases in sales sustain. The most anticipated trend with a year-on-year during the Golden Week holiday in projects include Kerry Properties’ growth of about 10-12% Jing’an Kerry Centre Phase II (86,000 October. On the other hand, two more but the occupancy rate traditional department stores, both sq m) on Nanjing West Road, Sun with long histories, shut down Hung Kai Properties’ International will drop slightly. because of strong competition from apm (100,000 sq m), New World online shopping platforms and Development’s K11 Art Mall on fast-fashion brands. Huaihai Middle Road (50,000 sq m). In the Hongqiao CBD, LVMH Group’s In 2012, the annual retail supply in L'Avenue and Treasury China Trust’s Shanghai reached 563,350 sq m, The HQ will provide retail GFAs of down 14.5% compared to 2011. In the 49,000 sq m and 31,000 sq m fourth quarter, four new retail malls respectively. The expansion of luxury with a total gross floor area (GFA) of brands has slowed but the focus 165,000 sq m opened. remained on core areas. Fast-fashion groups such as Inditex will accelerate Ground-floor rents in core retail areas the expansion of their major stores reached RMB54.7 per sq m per day, as well as the groups' other brands, an increase of 1.7% quarter on such as Inditex Group's Massimo quarter and 11.6% year on year. The Dutti, Bershka, Stradivarius and Pull vacancy rate for shopping malls & Bear. Some fashion brands that remained at 8.4%, the same level as have yet to enter Shanghai are the previous quarter. currently seeking store locations, for example British fast-fashion brand In recent years, community shopping Topshop will open its first China store malls have emerged in non-core in Pudong Lujiazui in 2013. areas and have gained popularity As most new supply will be among consumers. In the fourth concentrated in core retail areas such quarter, several community shopping as Huangpu and Jing’an districts in malls exhibited increased rents. 2013, we expect prime retail rents will The rise in online shopping and fast continue their upward trend with a fashion brands imposed pressure on year-on-year growth of about 10-12% traditional department stores with but the occupancy rate will drop shrinking potential for growth. Many slightly. Supported by investors’ department stores were considering strong interest in commercial real conducting adjustments or estate, retail prices are set to stay repositioning to survive under the firm. The retail market will also see fierce competition. an increase in large-scale transactions.

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Market overview

C onsumers demonstrated In the fourth quarter, Shanghai’s retail in the fourth quarter. Under increasing market performed both positively and pressure from online retail rivals, two their strong desire to spend negatively. Consumers demonstrated more department stores, namely during this holiday season. strong propensity to spend in the Spring Department Store on Sichuan

During eight-day Golden holiday season. During the eight-day North Road and Novel Department Golden Week holiday, Shanghai Store on Huaihai Middle Road, were Week holiday, Shanghai received 7.92 million tourists, an forced to close. Traditional department received 7.92 million increase of 21% compared to the stores have reached a bottleneck tourists, an increase of 21% previous year and the 5,000 retail point in their growth. With the rapid stores in Shanghai achieved total growth of online retailing and the compared to the previous retail sales of RMB6.43 billion, a ambitious expansion of fast-fashion year. year-on-year increase of 9.2%. The brands, small and medium-sized

retail market saw four new retail malls’ department stores have shrinking

opening in the quarter, adding a total growth potential. On 11 November

of 165,000 sq m of space to the 2012 (the “Singles Day” in China), one market. In the fourth quarter, the of China’s e-commerce giants TMALL

average ground-floor rent in core retail (tmall.com) achieved a sales volume areas was RMB54.7 per sq m per day of RMB19.1 billion, four times higher with a quarter-on-quarter increase of than the annual retail sales of Nextage 1.7%. Shopping malls’ vacancy rate Department Store, one of the best remained at 8.4%, same as the performing department stores in

previous quarter. However, traditional Shanghai. department stores did not fair as well

Shanghai Retail Sales of Consumer Goods, 2000-2012

Retail Sales of Consumer Goods (LHS) Growth Rate (RHS)

800 RMB billion % 20

18 700 16 600 14 500 12

400 10

8 300 6 200 4 100 2

0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Source: Shanghai Statistics Bureau/Knight Frank

3 Q4 2012 shanghai retail Quarterly

Supply and Demand

In 2012, the annual retail In 2012 the annual retail supply in renovation. This retail mall was the Shanghai reached 563,350 sq m, fourth new mall opened in the Sichuan supply in Shanghai reached down 14.5% compared to 2011. In the North Road retail area, following Cloud 563,350 sq m, down 14.5% fourth quarter, four new retail malls, Nine Hongkou Mall, Laox Life Plaza compared to 2011. with a total GFA of 165,000 sq m, and Citic Shenhong Plaza, with a retail opened. The four malls were GFA of 27,900 sq m from basement Takashimaya and Gloria Department two to level three. On 28 December, Store in Changning District, One Prime River Mall Phase One officially opened in Hongkou District and The River Mall in Pudong. Based on the former Expo Phase One in Pudong. New supply in Axis, this shopping mall was jointly quarter four increased 41% compared redeveloped by Expo Shanghai Group with the previous quarter. However, and Brilliance Group. Phase One is these new malls were relatively small positioned as a food & beverage mall, with average mall size less than with major tenants including Wang 100,000 sq m, thus the annual new Ding Teppanyaki & Japanese supply decreased by 44% compared Restaurant, BullFighter Steak House, with the previous year. The first Sichuan Folk, Musk Cat Coffee, Xian Yu Takashimaya Department Store in Xian and Inlead KTV. The entire Shanghai launched in the Changning development of 330,000 sq m is to Gubei Area on 19 December. Located fully open in 2013. in Gubei International Fortune Centre Phase II, Takashimaya had a total Despite the overseas economic retail GFA of 62,000 sq m from malaise and China’s slowing economic basement to level seven. Takashimaya growth, retailers’ confidence in the was one of the largest high-end market remained and they continued department stores in Japan with 180 to open new stores in Shanghai. The years of history, targeting mid to world’s first Yves Saint Laurent Paris high-income consumers from boutique of 300 sq m was launched in Shanghai and the Yangtze River Delta Reel Department Store in the quarter. Region. Gloria Department Store was Similarly, following the opening of its located in Multimedia Plaza in the first boutique in China at the Zhangshan Park retail area and has a Peninsula hotel in Beijing in early retail GFA of 25,000 sq m from 2012, Italian luxury fashion brand. basement to level four, targeting at the mid-end market. One Prime, AM Roberto Cavalli opened its second alpha GmbH’s first project in China, store in Mainland China in Plaza 66 on opened on 9 November. Nanjing West Road. The boutique had a store area of 140 sq m selling One Prime, previously known as women’s wear. In the same month, Tianchen Rose Plaza, was located on Belgian bags and luggage brand Sichuan North Road. Tianchen Rose Hedgren opened its first flagship store Plaza was acquired by AM alpha in in China on Huaihai Road, one of the early 2010 and reopened as One major retail areas in Shanghai. Prime, a mid-end shopping mall, after Specialised supermarkets had also

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been expanding in Shanghai. In the highest number among all December, French sporting goods Mainland cities. The stores moved chain store Decathlon opened four closer to core areas but the space stores in Jiading, Caoyang, Dahua and requirement declined from 5,000-8,000 Dalian Road respectively. The number sq m to 3,000-5,000 sq m. of Decathlon stores in Shanghai totaled 14,

Rent

Recently, community Shanghai retail rent in core areas (2006Q1 to 2012Q4)

60 RMB/sqm shopping malls emerged net/day as a new and popular retail 55 format in non-core retail 50 areas. In the fourth quarter, 45 driven by a reliable 40 consumer base and a 35 diverse trade mix, retail 30 rents in many community 25 shopping malls increased. 20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2006 2007 2008 2009 2010 2011 2012

Source: Knight Frank Research

Prime retail rents continued to grow in Recently, community shopping malls the fourth quarter of 2012. Ground-floor emerged as a new and popular retail retail rents in core areas achieved format in non-core retail areas. In the RMB54.7 per sq m per day, a fourth quarter, driven by a reliable quarter-on-quarter increase of 1.7% and consumer base and a diverse trade a year-on-year increase of 11.6%. mix, retail rents in many community Boosted by the concentration of luxury shopping malls increased. The shopping malls, Nanjing West Road and ground-floor rent of Kerry Parkside Xujiahui were the most expensive areas increased 20% quarter on quarter to in terms of rents. Currently, some retail RMB18.0 per sq m per day, while such units in Plaza 66, Citic Square, Westgate rents for Life Hub@Daning in Zhabei Mall on Nanjing West Road and Grand and Life Hub@Jinqiao in Pudong grew Gateway 66 in Xujiahui recorded 11.0% and 4.0% to RMB26.0 per sq m ground-floor rents of near RMB80.0 per per day and RMB20.0 per sq m per day sq m per day. respectively.

5 Q4 2012 shanghai retail Quarterly

MARKET ACTIVITIES

Even for market Ininvestment 2012, due to the fast growth of Most department stores that shut outperformers such as online shopping platforms and down their businesses had common fast-fashion brand expansion, problems, including a small scale Nextage, Pacific and traditional department stores entered (GFA less than 10,000 sq m), unclear Parkson, retail sales growth a bottleneck period with shrinking positioning and limited product in 2012 slowed down or potential for growth. Shanghai variety. Currently, the retail GFA of witnessed the closure of three successful department stores is more became negative, making department stores during 2012. In than 20,000 sq m. The recently future development April, inappropriate positioning and launched Takashimaya has a size of difficult. limited scale forced No 1 Department over 60,000 sq m. The small scale led Store on Huaihai Middle Road to shut to problems such as poor trade mix

down after 19 years’ of operation and and limited shopping options. to rent out the space to BMW 4S shop. Compared to other retail formats like In August, Shanghai Spring shopping malls, department stores Department Store on Sichuan North are not competitive in terms of pricing, Road closed due to persistent weak services and facilities. Competition performance. Spring Department Store from online retailers is another key had a history of 16 years with a retail reason affecting the performance of GFA of 8,000 sq m. Before the closure traditional department stores. of Spring Department Store, several Statistics showed that on 11 November department stores on Sichuan North 2012 (the “Singles Day” of China), one Road already closed due to the same of the E-commerce giants TMALL reason. Er Bai Yong Xin is another (tmall.com) achieved a sales volume department store to close soon. of RMB19.1 billion, four times higher Situated in the Huaihai Middle Road than the annual retail sale of Nextage retail area as the first state-owned Department Store. Therefore, even for department store on Huaihai Road, Er market outperformers such as Bai Yong Xin was jointly invested by Nextage, Pacific and Parkson, retail No 2 Department Store and Hong Kong sales growth in 2012 slowed down or Novel Department Store Co Ltd. After became negative, implying difficult the closure of Er Bai Yong Xin, Uniqlo future development. will take over the space to open its largest flagship store in China.

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INVESTMENT

The capital market remained active previously known as “East Ocean and witnessed one significant retail Mall”. Gaw Capital acquired “East deal in the fourth quarter. In late Ocean Mall” from a Wenzhou November 2012, Gaw Capital sold 353 businessman at a price of RMB900 Plaza in Shanghai for RMB2.4 billion billion in 2006. Then Gaw Capital

to a joint venture established by invested RMB400 million in the mall’s

Macquarie Group (MQG:ASX) and The renovation. In 2008, the mall Abu Dhabi Investment Authority of the reopened as “353 Plaza” and was United Arab Emirates. Located at the repositioned as a mid-end shopping eastern section of Nanjing Pedestrian centre. Street, 353 Plaza had a total area of 40,000 sq m and was

Selected retail leasing transactions, Q4 2012

Area Rent District Building Floor Trade (sq m) (RMB/sq m/day) Huangpu Lippo Plaza Level 1 Accessories 60 65.0

Citic Jing’an Level 2 Apparel 130 50.0 Square

Jing’an Mall 818 Basement 1 F&B 350 8.1

Changning The HQ Basement 1 Supermarket 400 15.0

Changning M-Town Level 1 F&B 178 10.0

Source: Knight Frank Research

Selected retail sales transactions, Q4 2012

Total price Price District Building Floor Area (sq m) (RMB million) (RMB/sq m) The Wujiaofengda Yangpu Level 1 71 5.2 73,811 Building

Putuo Union Tower Level 1 415 55.0 132,544

No.989 Xikang Putuo Level 1 98 10.5 107,412 Road

Changni Gubei International Level 1 328 27.0 82,432 ng Garden

Chamtime Zhabei Level 1 61 6.6 108,194 Corporate Avenue

Zhabei Suhe Creek Level 1 195 27.0 138,393

Source: Knight Frank Research / Shanghai Real Estate Trading Centre

7 Q二零一二年第4 2012 四季度 shanghai上海商铺 retail Quarterly季刊

焦点

第四季度，上海零售市场的表现喜忧参未来展望考虑到二零一三年的新供应量半。一方面，消费者节日购买意愿强烈，将集中在核心商圈，我们预计各零售企业在“十一”长假促销期间的我们对于二零一三年的上海零售市场预营业收入都录得同比增长；另一方面，期仍然持乐观态度,需求稳定，核心商圈平均零售租金将再增长百分之又有两间具较长历史的百货公司在电商将有多个中高档购物中心开业，值得期 10-12，出租率略有下降。和快时尚品牌的冲击下宣告歇业，退出待的项目包括位于南京西路商圈的静安零售市场。嘉里中心二期，由嘉里建设开发，商场面积 86,000 平方米；位于淮海中路商圈

的 International apm 和 K11 Art Mall，分二零一二年全年上海商场面积净增别由新鸿基地产和新世界开发，商场面 563,350平方米，与二零一一年相比，新积分别为100,000平方米和50,000平方增供应下降约百分之。第四季度新开 14.5 米；位于虹桥商圈的尚嘉中心和虹桥城，四座商场，分别是壹丰广场、高岛屋、分别由法国路威酩轩集团和华瑞中国地光一百货和世博源购物中心一期，为市产信托开发，商场面积分别为 49,000 场增加了约165,000平方米的商业零售平方米和 31,000 平方米。零售商方面，面积。奢侈品牌的开店速度放缓，仍然希望在核心区域寻找店面；快时尚服饰集团如

Inditex 将加速主品牌及其姐妹品牌的扩核心商圈首层店铺平均租金约为每天每张速度，例如 Inditex 旗下的麦西姆杜特、平方米人民币 54.7 元，环比增长百分之巴适卡、Stradivarius 和普安倍尔，那些 1.7，同比增长百分之 11.6；购物中心空尚未进入中国的快时尚品牌也积极在市置率为百分之 8.4，与上季度基本持平。内寻找合适店面，例如英国快时尚品牌

TOPSHOP在中国的首家分店将选址浦东近年来，社区型购物中心作为新生业态陆家嘴，并于二零一三年开业。在非核心商圈纷纷出现，深受消费者欢

迎。第四季度，数家社区型购物中心录考虑到二零一三年的新供应量将集中在得租金增长。核心商圈，我们预计平均零售租金将再

增长百分之 10-12，出租率略有下降,而

由于受到电商和快时尚品牌的双重冲击，投资者对于商业物业的强烈兴趣将使零

传统百货的发展遭遇瓶颈，发展空间正售商铺的价格保持稳定。由于零售物业在逐步缩小，很多尚在经营的百货公司将受到大型机构买家的关注，因此市场

开始考虑调整和转型，以期在激烈的竞上大体量的成交将会增多。争中继续生存。

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市场概览

中秋国庆市场消费市场繁荣活第四季度，上海零售市场喜忧参半，一方而在另一方面，传统百货面临来自电商的

面，中秋国庆市场消费市场繁荣活跃，购挑战，第四季度又有两家百货店相继停止跃，购买踊跃。今年国庆长假买踊跃。今年国庆长假八天上海接待观光营业，分别是四川北路上的春天百货和淮八天上海接待观光游客约792 游客约 792 万人次，比二零一一年“十一” 海中路上的永新百货。目前，百货公司的

万人次，比二零一一年“十一” 黄金周约增百分之 21；全市 5,000 多家网发展进入瓶颈期。在电子商务高速发展、

黄金周约增百分之21。点在八天节日内共实现营业收入人民币快时尚品牌快速开店的双重冲击之下，中 64.30 亿元，同比增长百分之 9.2。供应小型百货公司的市场空间正在逐渐缩小。市场也表现活跃，第四季度有四座新商场二零一二年“双十一”（“中国单身节”）开业，分别是位于虹口区的壹丰广场，位中国最大的购物网站之一天猫于长宁区的高岛屋和光一百货以及位于 (tmall.com)的总销售额为人民币191亿

元，与上海营业额最高的百货——第一八浦东的世博源购物中心一期，共为市场新增零售面积约 165,000 平方米。第四季度佰伴相比，一天销售额几乎为其全年营业核心商圈首层店铺平均租金约为每平方额的4倍。

米每天人民币 54.7 元，环比增长百分之

；购物中心空置率为百分之，与上 1.7 8.4 个季度基本持平。

上海社会消费品零售总额，二零零零年至二零一二年

社会消费品零售总额（左轴）增长率（右轴）

8,000 亿人民币 % 20 18 7,000 16 6,000 14 5,000 12

4,000 10

8 3,000 6 2,000 4 1,000 2

0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 数据来源：上海统计局 / 莱坊研究部

9 二零一二年第四季度上海商铺季刊

供应与需求

二零一二年全年，上海商场面二零一二年全年上海商场面积净增础上改建而成，由上海世博发展集团与百 563,350平方米，与二零一一年相比，新联集团共同打造。一期主要定位为餐饮娱积净增563,350平方米，与二零增供应下降约百分之14.5。第四季度，上乐，入住商户包括王鼎、斗牛士、巴国布一一年相比，新增供应下降约海有四座商场共165,000平方米零售面积衣、麝香猫咖啡、鲜芋仙及银乐迪量贩百分之14.5。新开业，新开业的商场包括位于长宁区的 KTV。整体项目共33万平方米，将于二零高岛屋百货和光一百货，位于虹口区的壹一三年全面开业。丰广场和位于浦东的世博源购物中心。第四季度商场新供应虽然较上季度增加百尽管海外经济低迷，中国经济增长增速放

分之41，但由于四季度开业的商场体量普缓，但零售商对于上海零售市场仍然具备遍都较小，单体面积均未超过10万平方信心，开店热情不减。全球首间圣朗米，因此新增供应较二零一一年同期减少洛·巴黎（Saint Laurent Paris）专门店选

百分之44。上海第一间高岛屋百货于十二址上海开幕，店面位于南京西路芮欧百月十九日在长宁古北区域开业，高岛屋坐货，面积约300平方米。十二月，意大利落于上海古北国际财富中心二期，从地下奢侈时装品牌Roberto Cavalli继二零一二

一层到地上七层，建筑面积62,000平方年北京半岛酒店开设第一家店后，在上海米。高岛屋是日本最大的高端百货公司之恒隆广场开设第二家分店，面积约140平

一，具有180多年历史，高岛屋上海店的方米，专营女装；来自比利时的箱包品牌目标消费群体将锁定上海及长三角地区海格林（Hedgren）亦在中国的首家旗舰的中高收入人群。光一百货是第四季度长店选址上海主要商圈之一——淮海路开宁区全面开始营业的另一家日系百货，位业。此外，专业卖场也加快了在上海的开于中山公园商圈的多媒体广场，总建筑面拓步伐。十二月份，来自法国的体育用品

积约25,000平方米，包括地下一层至地上连锁集团迪卡侬在上海的四家商场——

四层，定位中档。在虹口区，作为德国AM 嘉定商场、曹杨商场、大华商场以及大连 alpha在中国的首个投资项目，壹丰广场路商场同时开业。至此，迪卡侬在上海的于十一月九日正式开业。壹丰广场位于四商场总数达到十四家，在中国所有的城市川北路，前身为“天宸玫瑰广场”，于二中，上海数量排名第一。从新开的几家迪卡侬门店来看，迪卡侬的选址比之前更加零一零年年初被AM alpha集团整体收购，经过改造升级，以中档购物中心的定位重靠近中心区域，需求面积有所减少，从平方米缩减到现在的新亮相。该商场总营业面积27,900平方 5,000-8,000 米，从地下两层至地上三层，成为继凯德 3,000-5,000平方米。龙之梦、乐购仕和中信泰富申虹广场之后在四川北路商圈上新开的第四家商场。十二月二十八日，世博源购物中心一期在浦东正式开业，这一购物中心在原世博轴基

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租金

近年来，社区型购物中心作为上海主要商圈首层租金，二零零六年第一季度至二零一二年第四季度

新生业态在非核心商圈纷纷出 60 人民币/平方米净面积/天现，深受消费者欢迎。第四季 55

度，凭借稳固的消费群体和丰 50

富的业态组合，数家社区型购 45

物中心录得租金增长。 40

20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2006 2007 2008 2009 2010 2011 2012

数据来源：莱坊研究部

二零一二年第四季度，上海优质商铺租金近年来，社区型购物中心作为新生业态在继续上涨。上海主要商圈商铺首层平均租非核心商圈纷纷出现，深受消费者欢迎。

金录得每天每平方米人民币54.7元，环比第四季度，凭借稳固的消费群体和丰富的增长百分之1.7，同比增长百分之11.6。由业态组合，数家社区型购物中心录得租金于拥有上海最贵的几家购物中心，南京西增长。浦东嘉里城的首层租金环比增长百路商圈和徐家汇商圈的租金稳居上海优分之20.0至每天每平方米人民币18.0元；质商铺租金之首。目前，南京西路上的恒闸北区的大宁国际商业广场和浦东的金隆广场、中信泰富广场、梅龙镇广场以及桥国际商业广场首层租金环比分别上涨徐家汇的港汇广场内的一些店铺，它们的百分11.0和百分之4.0至每天每平方米26 首层租金均已接近每天每平方米人民币元和每天每平方米20元。

80元。

11 二零一二年第四季度上海商铺季刊

市场动向

甚至对于那些目前经营状况相二零一二年，由于受到电商和快时尚纵观这些已关闭的百货店，普遍存在品牌的双重冲击，传统百货的发展遭着体量小（体量不足 1 万平方米）、定对较好的百货公司例如第一八遇瓶颈，生存空间正在逐步缩小，去位不明确、商品品种单一等问题。目佰伴、太平洋百货或百盛来讲，年上海共有三家百货宣告歇业。四月前市场上比较成功的几家百货公司体

二零一二年的销售业绩也在电份，受制于定位、体量等原因，第一量均在 20,000 平方米以上，最近新开商的冲击下出现放缓或是下滑百货淮海店在经营了 19 年后将店面整的高岛屋的建筑面积超过 60,000 平体出租，由宝马接手开设 4S 店。八月方米。体量过小直接引致的问题是经的趋势，未来发展的形势颇为份，由于长期商业低迷，位于四川北营业态单一，商品可选择范围小，而严峻。路的上海春天百货宣告停业，春天百百货店在商品价格以及服务设施上相

货有着 16 年历史，经营面积约 8,000 较于其他商业形态例如购物中心也并平方米，其实在春天百货关闭之前，无优势可言。电商的冲击无疑也是影四川北路上已经有多家百货商场由于响传统百货业绩的重要原因之一，数营业状况欠佳而退出市场。二百永新字表明，二零一二年购物网站天猫

是即将关闭的另一家百货公司，同样 (tmall.com) 在“双十一”（中国的单位于淮海中路的主要商圈，曾经是淮身节）当天的销售额已相当于第一八海路上的第一家国营百货——第二百佰伴全年销售额的四倍。所以，甚至货，后与香港永新百货有限公司合资，对于那些目前经营状况相对较好的百改建为二百永新。二百永新关闭后，货公司例如第一八佰伴、太平洋百货取而代之的是优衣库全球旗舰店，这或百盛来讲，二零一二年的销售业绩家新店将成为优衣库中国最大的旗舰也在电商的冲击下出现放缓或是下滑店。的趋势，未来发展的形势颇为严峻。

KnightFrank.com.cn

投资

第四季度资本市场保持活跃，录得一前身为“东海商都”。二零零六年，基

宗重要商铺整购交易。二零一二年十汇资本以人民币 9 亿元的价格从温州一月下旬，基汇资本以人民币 24 亿元商人手中接过“东海商都”，斥资人民

将持有的上海 353 广场售予麦格理集币 4 亿元巨资进行重新装修，将该商场团（MQG:ASX）与阿联酋阿布扎比投重新定位为中端购物中心，改名为“353

资局的合资公司。353 广场位于南京路广场”，于二零零八年开业。

步行街东段，总面积为 40,000 平方米，

上海主要商铺租赁成交，二零一二年第四季度

面积租金区域项目楼层业态（平方米） (人民币/平方米/天)

黄浦力宝广场一层饰品 60 65.0

静安中信泰富广场二层服饰 130 50.0

静安广场地下一层餐饮 818 350 8.1 长宁虹桥上海城地下一层超市 400 15.0

长宁新淮海坊一层餐饮 178 10.0

数据来源：莱坊研究部

上海主要商铺买卖成交，二零一二年第四季度

面积总价成交价格区域项目楼层（平方米） (人民币百万元) (人民币/平方米)

杨浦五角丰达商务广场一层 71 5.2 73,811

普陀汇融大厦一层 415 55.0 132,544 普陀西康锦城一层 98 10.5 107,412

长宁古北国际花园一层 328 27.0 82,4322

闸北长泰企业天地广场一层 61 6.6 108,194

闸北苏河湾华侨城中心一层 195 27.0 138,393

数据来源：莱坊研究部/ 上海房地产交易中心

13 Research 二零一二年第四季度研究报告上海商铺季刊

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