Global Cities Retail guide. Cushman & Wakefield 2012/2013. Porto
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1 Cushman & Wakefield 2012/2013
2 Overview (also known sometimes in English as Oporto) is the second largest city in Portugal. Located along the Douro river estuary in the northern part of the country, is one of the oldest European centres, and was registered as a World Heritage Site by UNESCO in Greater is the second most densely populated region in Portugal. has been attracting an increasing level of international attention over the last decade, expanding demand for cultural and leisure tourism. One of Portugal s internationally famous exports, port wine is named for, since the metropolitan area, and in particular the wine cellars of Vila Nova de Gaia to the south of the river, have been responsible for the production and export of the fortified wine for many years. The increase in tourism has had a direct effect on the performance of high street retail business expanding the range of potential customers for shops in cultural destinations. Although high street retail in does not benefit in equal measure from the growing demand seen in Lisbon, its success has led brands to consider the possibility of opening further shops in, as shown by the opening of Marc by Marc Jacobs in the Clérigos zone last year. The Greater area has some 760,000 sq m of retail GLA, of which 670,000 sq.m are shopping centers.
3 Overview 1.3million Metropolitan population 4th ranking on the best tourist destination worldwide in price-quality terms in 2011 (Lonely Planet) 950,000 Total number of guests in 2011
4 Key Retail Areas & Streets BAIXA - RUA DE SANTA CATARINA The large majority of high street retail outlets are located in Baixa (downtown). For a long time, Baixa has been the area where traditional retailers have located. They have catered for the needs not only of inhabitants of Greater but also of residents of the suburbs in the district of who come to the city to shop, normally arriving by train at the São Bento station. Rua de Santa Catarina is the focus of more than half of the total supply in the area, but it is of relatively lower quality compared to other areas of the city. CLÉRIGOS Over the last few years, this location has benefited from a more dynamic environment and has succeeded in attracting restaurant and leisure operators in conjunction with trendy mass and medium-high level brands. This cluster of high street retail has attracted significant level of interest from major domestic and international brands, benefiting from the area s tourist traffic over the year as a whole. NORTE SHOPPING SHOPPING CENTER Norteshopping is deemed to be Sonae s best performer in the North of Portugal. Opened in 1998 it totals 73,200 sq m. Anchors include Continente hypermarket, Fnac, Area, Zara, C&A, Toys r Us, H&M, Sportzone and an 8 screen Lusomundo cinema. It features 257 shops over 3 floors.
5 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 100 SQM RANGE OF UNIT SIZES Rua de Santa Catarina Local shoppers Fnac, C&A, Zara, Blanco, Pronovias, Marionnaud, Cortefiel, Promod, Benetton. Tezenis, Ale-Hop 40 /sq.m/month 50 sq.m 2,000 sq.m Clérigos Tourists, local shoppers. Marc by Marc Jacobs, Vida Portuguesa, Marques Soares, Lello book shop. 28 /sq.m/month 50 sq.m 1,000 sq.m Norte Shopping Shopping Center Local shoppers, local business density. Zara, H&M, Pull & Bear, Bershka, Stradivarius, Oysho, Area, Fnac, Sportzone, Springfield, Cortefiel, Bimba & Lola, Disney Store, Nespresso. Guess N/A 20 sq.m 2,000 sq.m
6 Food & Beverage The area of where the majority of restaurants and bars are located is Ribeira, on the bank of the Douro River. This is the gathering point for young people and the focal point of s nightlife. More recently Foz, also on the river bank, and Clérigos, have been drawing the attention of locals and tourists for leisure activities, such as food & beverage. offers a variety of restaurants for all tastes and budgets from some of the best local traditional cuisine, its more updated version, to the most refined contemporary international cuisine in the city. In the 2012 issue of Michelin s Spain and Portugal Guide, The Yeatman (Vila Nova de Gaia) in Greater zone was among the top twelve Portuguese restaurants. market overview KEY AREAS CONSUMER PROFILE food & beverage operators including Clérigos Tourists, local Shis, Twins, Costa Coffee. N/A Foz Tourists, local Shis, D Oliva, Casa d Oro. Ribeira Tourists, local Peter s, local operators. N/A Data as of August 2012 RENT FOR 350 SQM UNIT N/A
7 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.
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