Retail Parks, secondo Jones Lang LaSalle

 15 novembre 2007

Nell'ambito del MAPIC, il 15 novembre, ha presentato la "European Retail Warehousing Newsletter", che esamina il mercato del Retail warehousing in Europa.

Ecco la sintesi stampa: "...Retail warehousing has outperformed the wider retail market for over 10 years resulting in substantial retailer expansion particularly evident in southern Europe and the emerging markets of Central Europe according to leading property advisor and investment management firm Jones Lang LaSalle.

The firm’s "European Retail Warehousing Newsletter", November 2007 highlights that an investment market for retail warehousing is now firmly established in continental Europe. Showing impressive performance, it has accounted for over 40 per cent of all retail transactions by volume between periods Q1 and Q3 in 2007 (excluding deals under €5million).

Such retail investment and expansion activity has led to a marked increase in the development of new retail parks in such countries as Spain, Portugal and Poland. In reflection, Central European retail warehousing is still in its infancy. Shopping centres with attached or adjacent warehousing still dominate the development of new retail space and purpose built retail parks remain rare in the region.

Mike Bellhouse is Associate Director of Jones Lang LaSalle’s European Retail Capital Markets, “Occupier demand has improved in 2007 reflecting a rise in consumer confidence and the generally positive trading conditions for the out-of-town retailers in continental Europe. Secondary space however has witnessed a decline in interest particularly in the more mature Western European markets, reflecting a shift in occupier demand towards purpose built parks. This in turn coincides with the growing level of demand amongst ‘high street’ retailers for retail park locations.”

Mike adds, “Our research reports that Germany remains the main target for investors accounting for €4.4billion or 56 per cent of total volume in the period Q1 to Q3 this year. Driving factors for this include continued low borrowing rates and good access to product. The two largest deals during this period were both in Germany with UK fund aAim purchasing a portfolio of Praktiker retail warehouses for €385million from Curzon/Ixis and WP Carey purchasing over 35 properties from Hellweg (DIY) for €345million. Whilst Germany is dominating the investment market, we have recorded retail transactions in 17 different countries so far this year, including Russia, Romania, Lithuania and Greece. Sentiment remains strong across Europe and demand for retail parks that can offer further development or asset management angles to enhance value as well as prime quality product is expected to remain strong.”