Property
Real estate firm Redevco bought a store location, including stores like Tiffany & Co and Glasshütte, in the Rue de la Paix in Paris from Savills Investment Management. Neither party wished to disclose the fee for the acquisition.
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Rental prices in the world's two most expensive shopping streets have dropped due to the growth of online shopping, leaving retail chains and real estate agents in a real pickle on how to deal with this new reality.
International brands use major Benelux cities as an important stepping stone in their European expansion strategy, a new study says. Many major brands schedule openings in the Benelux immediately after hubs like Paris and London, mainly thanks to its central location.
Retail parks' appeal continues to grow, both with retailers and shoppers all across Europe. Relatively low costs and easy accessibility are important drivers of growth. The mixture of rental parties is also evolving.
Work is ongoing at Schengen in Luxembourg, to create a new shopping center which should open its doors in the summer of 2017. The main attraction will be a 3,500 sqm flagship store for Delhaize.
While we fear our shopping centers are too large, filled with vacant lots, China goes for big. The New Century Global Centre shopping centre in Chengdu is the world's largest building in the world.
Canadian Hudson's Bay announced it will open new stores in another seven Dutch cities: Amersfoort, Den Bosch, Enschede, Haarlem, Leiden, The Hague and Zwolle, meaning the chain has reached agreements for ten Dutch stores in total.
Retailers are still looking for growth across borders, with Asia a particular interest to many. Nevertheless, high eCommerce investments have slowed down the international expansion, according to real estate consultant CBRE's "How Global is the Business of Retail?"'s report.
Luxury brands can now open on Sunday in France, although it is only possible in several tourist areas. They will now be able to open their doors on Sunday 26 times every year.
The Iberian joint venture of Redevco and Ares Management, called Redevco Iberian Ventures, has acquired 6 of Bogaris' retail parks for 95 million euro. Put together, the parks have 85,000 sqm of retail space.
Food is quickly become a shopping center's most attractive customer proposition. Successful shopping centers have a larger share of food-oriented stores, a medical cluster, multicultural shopping formulas and a link to online orders thanks to a pick-up point.
Retail real estate firm Wereldhave managed to sizeably increase its profit in 2015. Net profit nearly quadrupled, partially because of higher rental income, while its occupancy rate also increased.
Alternate, online retailer and supplier for several Benelux web shops, will increase its distribution capabilities for Belgium and Netherlands as it starts the construction on a 17,500 sqm lot in the Dutch city of Tholen.
Scandinavian furniture and interior design chain JYSK has broken all records in its broken fiscal year 2014-2015: the group managed a 2.9 billion euro turnover with a EBIT profit of 414 million euro, which is a 17 million euro improvement over last year.
CBRE Dutch Retail Fund has sold 33 Dutch stores, totaling 23,300 sqm. Parts were sold to French Sofidy, while Royal Properties Group (located in Brussels) acquired the remaining part.
British designer outlet manager McArthurGlen intends to expand with another 8 outlet centers over the next 4 years, including The Loop at Flanders Expo in Ghent.
