Global Cities Retail guide. Cushman & Wakefield 2013/2014

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1 Cushman & Wakefield 2013/2014 Bilbao

2 Overview Since its foundation in the early 14th century Bilbao has been a commercial hub, primarily due to its port activity. Bilbao is a vigorous service city that is experiencing an ongoing social, economic, and aesthetic revitalization process, started by the symbolic Bilbao Guggenheim Museum, and continued by infrastructure investments, such as the airport terminal, the rapid transit system, the tram line, the Alhóndiga, or the current renewal projects Abandoibarra and Zorrozaurre. Most tourists come from within Spain, mainly from Madrid and Catalonia. International travellers come mostly from nearby France, but also from the United Kingdom, Germany and Italy. Bilbao and the wider Basque country are home to a large and varied retail offer. Bilbao s high street retail offering is primarily centered around two areas, Gran Via and its surroundings and the Old Town with Calle Correo and Calle Bidebarrieta. Gran Via is a pleasant wide avenue which has been partially pedestrianised to enhance the shopping experience. Most major fashion retailers are present, although there is continued demand particularly from international retailers looking for a larger presence.

3 Overview 900,000 Metropolitan Population 962,000 Number of visitors to the Guggenheim Museum in 2011

Key Retail Areas & Streets CALLE GRAN VIA DON DIEGO LOPEZ DE HARO Calle Gran Via is a wide street which has been partially pedestrianised and has a grand feel to it.

Retailers such as El Corte Inglés, Zara, Blanco, Cortefiel, Mango, Desigual and Massimo Dutti are represented.

4 Key Retail Areas & Streets CALLE GRAN VIA DON DIEGO LOPEZ DE HARO Calle Gran Via is a wide street which has been partially pedestrianised and has a grand feel to it. The vast majority of national retailers are present on Gran Via along with a number of internationals. Retailers such as El Corte Inglés, Zara, Blanco, Cortefiel, Mango, Desigual and Massimo Dutti are represented. Demand remains high for this street and availability is extremely limited with considerable key money to be paid for good quality units. A number of the larger units are still occupied by banks such as BBVA, Banco Santander and BBK. CALLE ERCILLA Calle Ercilla, a pedestrianised street, runs south west from Plaza Moyua, and has a mixture of national and international mass market and some slightly higher end brands. El Corte Inglés, Blanco, Camper, El Caballo, Calzedonia, Adolfo Dominguez and Women Secret are all present. CALLE CORREO Calle Correo is located in the old town on the opposite side of the river to Gran Via. It houses a mixture of local and national brands including H&M, Springfield, Punto Roma and Pepe Jeans. CALLE BIDEBARRIETA As with Calle Correo, Calle Bidebarrieta is also located in the old town and acts as more of a secondary retail location after Gran Via. Some major retailers (such as H&M and Mango) are present in both the Gran Via area and the Old Town.

g Adolfo Dominquez, Massimo Dutti, Pull & Bear, Cortefiel, and Zara) and international names (Hollister, Scotch & Soda, Calzedonia, H&M, Pepe Jeans, Sacoor).

5 Key Retail Areas & Streets ARTEA One of the largest shopping centres in the city Artea Shopping Mall (40,000sq.m GLA) is located in a park of the same name, in the town of Leioa (Vizcaya) in Greater Bilbao. The centre is anchored by an Eroski hypermarket. Other retailers include a mix of Spanish (e.g Adolfo Dominquez, Massimo Dutti, Pull & Bear, Cortefiel, and Zara) and international names (Hollister, Scotch & Soda, Calzedonia, H&M, Pepe Jeans, Sacoor). This mall also features a selection of restaurants and a cinema. MAX CENTER Located on the outskirts of Bilbao, Max Center is an impressive shopping centre (59,331 sq.m), with over 160 shops, including a large Eroski supermarket, beauty stores, restaurants, a modern cinema and an array of fashion boutiques, selling both affordable clothing and more exclusive designer goods. Retailers include Zara, Mango, Punto Roma, H&M, Cortefiel, Pimkie and New Yorker. BALLONTI Ballonti shopping centre has more than 50,000sq.m GLA and a wide range of shops and top brand fashion and accessories, such as Primark, H&M, C&A, New Yorker, Jack & Jones, Springfield, Massimo Dutti, Bershka, Pull & Bear, Stradivarius, Lefties, Women Secret, Deichmann, Swarovski and Paco Martinez. There is also a wide variety of cafes and restaurants, including Burger King, Foster s Hollywood, 100 Montaditos, Gambrinus, Krunch and Mr. Wok.

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 Gran Via Mass market El Corte Inglés, Zara, Blanco, Cortefiel, Massimo Dutti, Mango Uno de 50, Tezenis, Skunk Funk, Calzedonia, Desigual 120 /sq.m/month 80 4,000 sq.m Ercilla Mass market El Corte Inglés, Blanco, Camper, Adolfo Dominguez, Women Secret, Calzedonia, Intimissimi 85 /sq.m/month sq.m Correo Mass market H&M, Springfield, Punto Roma, Pepe Jeans 75 /sq.m/month 80 1,000 sq.m Bidebarrieta Mass Market Desigual, Jack & Jones, Pimkie, Mango, Bijou Brigitte 60 /sq.m/month sq.m Artea Mass Market Zara, H&M, Punto Roma, Desigual, Pimkie, Bershka Hollister, Scotch & Scoda 48 /sq.m/month 20 2,000 sq.m Max Center Mass Market Zara, Mango, Punto Roma, H&M, Cortefiel, Pimkie, New Yorker 42 /sq.m/month 20 2,000 sq.m Ballonti Mass Market Zara, H&M, Primark, Blanco, C&A, Jack & Jones, Lefties, New Yorker 35 /sq.m/month 20 4,000 sq.m

7 Food & Beverage Gastronomy is an art form in Bilbao. The city is home to prestigious restaurants which offer dishes ranging from traditional cuisine to the most avant-garde culinary creations. Not forgetting, of course, all the different areas of the city in which to savour the famous pintxos (typical appetizers), which are guaranteed to satisfy even the most demanding palates. Eating well is easy, almost an obligation in Bilbao. The city is renown for being the capital of cod, because of the wide variety of dishes comprising the fish. The local custom is known as txikiteo (having pintxos with a drink) before having a meal. Ledesma is one of the most typical areas to go for pintxos and is predominantly frequented by a slightly older clientele. market overview KEY AREAS CONSUMER PROFILE FOOD & BEVERAGE OPERATORS INCLUDING San Mamés- Pozas Ledesma Casco Viejo Tourist (matches and weekends) Locals (daily) Locals (daily) Tourist (on weekends) Tourist (daily) Local (daily) Data as of August 2012 Audikona, Estraunza, Serantes, Aranzazú, Oriatorra Nicolas, Ibaigane, Club Naútico, Zortziko, La Granja, Iruña Arriaga, Lapico, Saibigain, Baste Víctor Montes, Perro Chico San Mames Pozas is a street visited before Athletic de Bilbao football matches at the San Mames Stadium. Local bars in the area host fans to watch the games, as many establishments have large screens to follow the Lions of San Mames. The charismatic street Pozas (Licenciado Poza), full of nightclubs and bars next to The Cathedral (as the San Mames Stadium is known), holds the pre- and post match parties and has a special atmosphere not found in many other cities. Casco Viejo, the old town of the Villa de Bilbao has two distinct environments. Shopping by day and bar hopping by night. Txikitero crews still walk the streets of the Casco Viejo from bar to bar, often singing songs typical of Bilbao and the Basque Country. Tapas bars are located primarily in Plaza Nueva, Nuestra Señora de María, Calle del Perro and Calle Jardines.

8 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 JAMES HAWkEy Asia Pacific Ph: Unit 1407 yanlord Landmark Office Tower No. 1 2nd Section kenmin South Road Chengdu, Sichuan, China james.hawkey@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.

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

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