Global Cities Retail guide. Cushman & Wakefield 2012/2013. madrid

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1 Cushman & Wakefield 2012/2013

2 Overview Cover Photo / JasonParis on Flickr The retail market in Madrid has two major hubs (Centro and Salamanca districts) where the greatest concentration of both national and international retailers can be found. There are also a number of more secondary locations including Princesa, Orense and Alcala. Madrid continues to renew itself and adapt to generational changes and trading environment. There are a number of projects underway to continue creating pedestrian friendly areas on certain high streets such as Serrano and Arenal. There are also plans to refurbish buildings, giving them other uses in order to accommodate new brands in the city center, where it is currently almost impossible to find good, quality retail space. Madrid therefore has considerable international demand, even more so recently from international luxury brands, and as a City it grows with it.

3 Overview 3,300,000 Total population of Madrid No.3 Madrid s rank in tourism, averaging more than 4 million tourists, in Europe after Paris and London 37,000 Number of shops in Madrid

4 Key Retail Areas & Streets SALAMANCA DISTRICT This area has the highest purchasing power of the city and therefore is home to many well known and prestigious brands, on streets such as Serrano/Ortega y Gasset, Goya, Claudio Coello, Velazquez and Jorge Juan. Luxury brands including Cartier, Tiffany, Escada, Chanel and Hermes focus on Calle Ortega y Gasset and the other high level brands are spread along the commercial thoroughfares in the area including Serrano and Jorge Juan with the mass market brands favouring Goya. CENTRO DISTRICT The prime high streets in this area are Gran Via, Preciados, Fuencarral, Carmen, and Puerta del Sol. Distributed between these streets are some of the largest and most commercial brands from all sectors: textiles, telephony, services, fashion, hotels, cinemas and theatres. It is the largest commercial and cultural area of the city and draws the most tourism. MONCLOA/PRINCESA/ALBERTO AGUILERA These streets are located very close to Gran Via and are an extension of the same profile of brand to be found on streets such as Goya and Gran Via. CASTELLANA / AZCA / ORENSE This is the city s Central Business District and a link between several of the other commercial and cultural hubs in the area. Paseo de la Castellana, which runs right down the center of the city from north to south, connects the major shopping areas of the city. Azca has one of the largest department stores in the city along with Calle Orense on the stretch closest to Raimundo Fernández Villaverde which brings together all of the Inditex group brands, Mango, Promod, Springfield, El Corte Inglés and other renowned brands along with a significant number of hotel chains.

5 Key Retail Areas & Streets BARQUILLO /ALMIRANTE This area is home to some independent, alternative brands and a great many restaurants. ALCALÁ Independent retailers, franchises, international chain outlets and large companies such as Inditex, Mango, H&M populate this part of the city. HERMOSILLA/LAGASCA /AYALA National and international brands of the home fashion industry, textiles and services call this part of Madrid home. PASEO DE LA HABANA Gruppo Inditex, fashion and home fashion, and a wide range of services connect this road with the Santiago Bernabeu, Real Madrid football stadium.

6 Key Retail Areas & Streets market overview Data as of August 2012 KEY AREAS/ STREETS/SHOPPING CENTERS CONSUMER PROFILE MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT FOR UNIT OF 200 SQM RANGE OF UNIT SIZES Ortega y Gasset Luxury and designer brands Louis Vuitton, Escada, Hermes, Cartier, Tiffany s, Valentino Serrano High End Bally, Loewe, Chopard, Bulgari, Salvatore Ferragamo, Max Mara, Adolfo Domínguez, Zara, Massimo Dutti, Uterqüe, Hoss Intropia, El Corte Inglés Roberto Cavalli, Abercombie & Fitch, Kuoni BDBA, Más que Menos, Carmen Steffens 215 /sqm/month 30 1,000 sqm 215 /sqm/month 20 3,000 sqm Preciados Mass Market Zara, Blanco, Mango, Intimissimi, Calzedonia, Desigual, FNAC, El Corte Inglés, Bershka Goya Mass Market Zara, Massimo Dutti, Bershka, Calzedonia, Kiko, Vodafone, Orange, Vips, El Corte Inglés Urban Burger 240 /sqm/month 20 1,500 sqm Urbanak, Zilian 180 /sqm/month 20 2,000 sqm

7 Key Retail Areas & Streets market overview Data as of August 2012 KEY AREAS/ STREETS/SHOPPING CENTERS CONSUMER PROFILE MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT FOR UNIT OF 200 SQM RANGE OF UNIT SIZES Fuencarral Trendy, fashion conscious Billabong, Maje, Gas, Kiehl s, Skunkfunk, Desigual, Quiksilver, VANS, Hoss Intropia, Pepe Jeans El Ganso, Onitsuka Tiger, Rituals 160 /sqm/month sqm Gran Vía Mass Market Zara, H&M, Sephora, Mango, Blanco, Vodafone, Movistar Orange, Ontop 165 /sqm/month 40 4,000 sqm Princesa Mass Market Inditex, Mango, Pepe Jeans Vodafone 125 /sqm/month 30 3,000 sqm

8 Food & Beverage Spain is well known for the quality and diversity of its food offerings with a full range at all price points. Spain has been somewhat slower than other countries in introducing foreign cuisine, although in the past few years this has changed considerably. In addition to seeing an increase in restaurants from other Spanish regions, the concepts that are becoming most popular are healthy fast food and oriental cuisine, in particular Japanese food. The gourmet hamburger concept is also gaining importance in the market. There have been a number of proposals for fine dining and leisure from professionals who until recently had been working in three Michelin restaurants and who now have become independent and set up their own restaurants. This has given way to an industry that is booming and an increase in those who decide to make a career in the food and beverage market. In conclusion Madrid has successfully expanded its cuisine and by importing many concepts from around the world, without impacting on the tradition and fine dining that goes down well with both national and international tourists. Zona Centro: La Latina, Cava Baja, Plaza de Santa Ana are areas in high demand for restaurants. Chueca/Barquillo/Almirante: home to some independent, alternative fashion brands and a great many restaurants. Genova Area: restaurant chains serving some of the major companies are present in the area. AZCA surroundings (Orense, Paseo de la Habana, Sor Angela de la Cruz, Paseo de la Castellana and Capitan Haya) is the financial area of the city surrounded by a very complete commercial mix with 4 urban shopping centers and a very comprehensive range of retailers. In this area are concentrated all the domestic and international retailers. Barrio de Salamanca is the most exclusive residential area. its offer in luxury brands focuses on two streets (Ortega y Gasset and serrano) and completes the commercial mix with other streets as Goya, Jorge Juan Velazquez, Claudio Coello, Ayala, Hermosilla, Lagasca which includes all kinds of national and international brands. There is also a new trend which has been popping up recently, the gourmet markets, such as San Miguel and San Anton in the centre of Madrid, Isabela on Paseo de la Habana, and the largest project of this kind in the city just off Paseo de la Castellana in the Salamanca district called Platea which will see an investment of over 60 million. market overview KEY AREAS La Latina/Cava Baja/Plaza de Santa Ana CONSUMER PROFILE Longstanding entertainment area. Cosmopolitan, tourism. food & beverage operators including La Musa, ME Restaurant &Lounge Bar Botin, La Camarilla, Negro de Anglona, El Viajero Chueca/Barquillo Edgy, trendy, important nightlife. Chez Pomme, Casa Hortensia, The Grill Club, Diablito Genova Azca Executive area during the week. Youth at weekends due to fast food chains. CBD and a fashionable district for upmarket restaurants and offices. Data as of August 2012 Foster Hollywood, Vips, Bice, Tony Roma s, Abrassador, Annapurna, El Mentidero de la Villa, Cafetería Río Frío Faborit, Giovanni Ranna, El Lateral, Mas que Menos, Tartufo, La Sureña, La Máquina, La Vaca Argentina

9 JOHN STRACHAN Global - EMEA Ph: Portman Square London, England W1A 3BG john.strachan@eur.cushwake.com MATT WINN Americas Ph: Ivan Allen Jr. Boulevard, Suite 700 Atlanta, GA matt.winn@cushwake.com SANJAY VERMA Asia Pacific Ph: /F The Headquarter Building 168 Xizang Zhong Lu Shanghai, China PRCi sanjay.verma@ap.cushwake.com No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals Cushman & Wakefield, Inc. All rights reserved.