Post by account_disabled on Mar 12, 2024 2:28:18 GMT -5
Spain is positioned on the international scene as a demand for renowned brands that are committed to establishing themselves in the country. Among the main High Street axes we find Portal de l'Àngel and Paseo de Gracia in Barcelona and the Madrid streets of Gran Vía, Preciados, Fuencarral, Serrano and Puerta del Sol . The large influx of consumers and their position as tourist and shopping enclaves make these streets the most 'prime' in the country. In a series of reports, we will analyze the main shopping streets in Spain. On this occasion, we delve deeper into Portal de l`Àngel, one of the main shopping streets in Barcelona and what was the most expensive way in Spain to open a commercial establishment.
In the Eixample neighborhood, the main Cambodia Telegram Number Data commercial area of Barcelona, is Portal de l'Àngel avenue. This commercial hub brings together renowned national and international brands that extend along exclusive pedestrian areas. The busiest section in Portal de l'Àngel is concentrated next to Plaza de Cataluña and reaches 47,000 pedestrians per day on average.
In recent months, this commercial route has witnessed a large number of movements, with the main giants of the fashion and retail sector as protagonists. One of the main operations is being prepared at the moment and that is that Inditex and H&M are immersed in the negotiation for the rental of the legendary premises currently occupied by El Corte Inglés in Portal de l'Àngel, as reported by idealista/news. The property has been owned by Redevco and Ares since last year.
And the fashion sector stands as the main one on this street, concentrating 75% of its offer, according to a report by the real estate consultancy JLL, with a predominance of 'mainstream' brands such as Mango, Zara and the rest of the brands. of the Inditex Group, as well as all the brands of the Tendam Group (Cortefiel, Springfield and Women'secret).
Shoe stores and jewelry stores are also representative on this street. The high demand has caused there to be no availability in the area, without considering off-market opportunities, with new brands that have been incorporated into the street's commercial offer during 2022 and early 2023, such as Primor, Ulanka, Lefties or Intimissimi Uomo.
Prime rent in Portal de l'Àngel reaches 248.4 euros/m2/month, which represents an increase of 3% in the last year . The impact of inflation on real incomes and lower consumer confidence suggest that the outlook for private consumption in the coming quarters will soften from growth close to 4.5% in 2022 to 1.5% in 2023, according to Oxford Economics data. This will affect the recovery of rental prices in the short term, which is why a more moderate growth is estimated on Portal de l'Àngel Avenue for 2023, close to 1.5%. Looking ahead to the next four years, JLL predicts that prime rentals in Portal de l'Àngel can grow by around 1.8% on average per year.
In the investment market, some recent operations include the aforementioned purchase in 2022 by Redevco Iberian Ventures of the El Corte Inglés building, and Generali's purchase of the building located at number 40 last year. A year earlier, in 2021, Best Value Europe purchased the building located at number 9-11, previously occupied by the operators H&M and Disney, which will be replaced by the sports operators JD Sport and Sprinter, as announced by idealista/news .
In the first quarter of 2023, prime returns at Portal de l'Àngel have reached 3.85%, with an increase of 30 basis points compared to a year ago, while maintaining stability in the quarterly comparison. Upward pressure on yields is likely to continue as a result of rising interest rates, reaching peak levels in the fourth quarter of 2023, potentially around 3.95%.
In the Eixample neighborhood, the main Cambodia Telegram Number Data commercial area of Barcelona, is Portal de l'Àngel avenue. This commercial hub brings together renowned national and international brands that extend along exclusive pedestrian areas. The busiest section in Portal de l'Àngel is concentrated next to Plaza de Cataluña and reaches 47,000 pedestrians per day on average.
In recent months, this commercial route has witnessed a large number of movements, with the main giants of the fashion and retail sector as protagonists. One of the main operations is being prepared at the moment and that is that Inditex and H&M are immersed in the negotiation for the rental of the legendary premises currently occupied by El Corte Inglés in Portal de l'Àngel, as reported by idealista/news. The property has been owned by Redevco and Ares since last year.
And the fashion sector stands as the main one on this street, concentrating 75% of its offer, according to a report by the real estate consultancy JLL, with a predominance of 'mainstream' brands such as Mango, Zara and the rest of the brands. of the Inditex Group, as well as all the brands of the Tendam Group (Cortefiel, Springfield and Women'secret).
Shoe stores and jewelry stores are also representative on this street. The high demand has caused there to be no availability in the area, without considering off-market opportunities, with new brands that have been incorporated into the street's commercial offer during 2022 and early 2023, such as Primor, Ulanka, Lefties or Intimissimi Uomo.
Prime rent in Portal de l'Àngel reaches 248.4 euros/m2/month, which represents an increase of 3% in the last year . The impact of inflation on real incomes and lower consumer confidence suggest that the outlook for private consumption in the coming quarters will soften from growth close to 4.5% in 2022 to 1.5% in 2023, according to Oxford Economics data. This will affect the recovery of rental prices in the short term, which is why a more moderate growth is estimated on Portal de l'Àngel Avenue for 2023, close to 1.5%. Looking ahead to the next four years, JLL predicts that prime rentals in Portal de l'Àngel can grow by around 1.8% on average per year.
In the investment market, some recent operations include the aforementioned purchase in 2022 by Redevco Iberian Ventures of the El Corte Inglés building, and Generali's purchase of the building located at number 40 last year. A year earlier, in 2021, Best Value Europe purchased the building located at number 9-11, previously occupied by the operators H&M and Disney, which will be replaced by the sports operators JD Sport and Sprinter, as announced by idealista/news .
In the first quarter of 2023, prime returns at Portal de l'Àngel have reached 3.85%, with an increase of 30 basis points compared to a year ago, while maintaining stability in the quarterly comparison. Upward pressure on yields is likely to continue as a result of rising interest rates, reaching peak levels in the fourth quarter of 2023, potentially around 3.95%.