STRASBOURG. Cushman & Wakefield Global Cities Retail Guide
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1 Cushman & Wakefield Global Cities Retail Guide 0
2 Located in northeastern France, Strasbourg is a major economic and cultural hub in Europe. Close to the German border and to the river Rhine, Europe s most important commercial waterway, the city benefits from excellent transport infrastructure. Strasbourg is also home to many European institutions including the European parliament, making it the most important political centre in France behind Paris. The urban area is named Eurométropole. Strasbourg is the capital of the Grand-Est region, the sixth region in terms of population and situated at the fourth position in terms of income between Bretagne and Centre/ Val de Loire. With 50,000 students (including 20% foreign students), Strasbourg enjoys a long and multicultural tradition of teaching-excellence while, combining French and Germanic culture, it also boasts a strong identity both reflected in the Alsatian language and renowned culinary traditions. A Unesco World Heritage site since 1988 and the historic core of Strasbourg, la Grande Île, is the heart of Strasbourg s retail scene. This territory, delimited by the Ill river and the Faux- Rempart canal, comprises several prime retail zones including Place Kléber, the largest square of Strasbourg s city centre. Other prominent retail thoroughfares are located nearby, with Rue des Grandes Arcades being the favoured location for prominent international mass-market retailers. The retail property market outside of la Grande Île is dominated by two major downtown shopping centres: Place des Halles, a 42,000 sqm shopping centre opened in 1979 and Rivétoile, a 30,000 sqm shopping centre opened in Located in the North of the Greater Strasbourg area, Vendenheim is the dominant retail zone on the outskirts. It will be reinforced soon with the opening of Shopping Promenade, a huge new generation retail park on 65,000 sqm. STRASBOURG OVERVIEW 1
3 KEY RETAIL STREETS & AREAS PLACE KLEBER Lined with neoclassical buildings, Place Kléber is the largest and most renowned square of Strasbourg and the core of the city s retail scene. Serviced by the tramway, this pedestrian area benefits from massive influx of tourists and local residents, and is home to international mass-market retailers in a wide range of activity sectors including fashion, services and household equipment. Place Kléber accommodates two 6,000 sqm shopping centres, La Maison Rouge and L Aubette, anchored by prominent international retailers including FNAC, Zara and Apple. RUE DES GRANDES ARCADES Linking Rue de la haute Montée to Place Gutenberg, Rue des Grandes Arcades is a major pedestrian thoroughfare and the street posting the highest retail rental values in the Alsatian capital. Anchored by Monoprix and Sephora, Rue des Grandes Arcades is one of Strasbourg s main targets for mass-market to mid-range international retailers willing to expand in the largest French provincial cities, as confirmed with the recent openings of Kiko and Desigual. RUE DU VIEUX MARCHE AUX POISSONS Rue du Vieux Marché aux Poissons links Pont du Corbeau on the Ill River to Place Gutenberg. The section between Place Gutenberg and Place des Tripiers is the busiest and is home to several mid to upper-range retailers (Comptoir des Cotonniers, Maje, The Kooples, etc.). Tenant mix in the section between Place des Tripiers and the Ill River is more diverse, with a few banks and a handful of restaurants and food retailers. RUE DE LA MESANGE Linking Rue de la Haute-Montée to Place Broglie and serviced by the tramway, Rue de la Mésange is a traditional market for upper-range to luxury retailers. The section between Rue de l Église and Place Broglie hosts upper-range fashion retailers such as Zadig & Voltaire and Sandro. World-renowned brands such as Mont-Blanc, Louis Vuitton, Hermès and Cartier are located in the section between Rue de la Haute-Montée and Rue de l Église. However, a few luxury brands recently left the street and were replaced by lower (e.g. Violeta by Mango on the former site of Gucci). RUE DES HALLEBARDES Rue des Hallebardes links Place Gutenberg to Rue des Juifs and mostly accommodates middle to upper range French women fashion retailers such as Caroll, Devernois, Etam or more recently Zapa. Rue des Hallebardes also hosts upper- in a wide range of activity sectors including fashion, food, jewellery or perfumes (Lacoste, Kusmi Tea, Swarovski, Annick Goutal). 2
4 KEY RETAIL STREETS & AREAS RUE DES ORFEVRES Rue des Orfèvres is a small street linking Rue des Hallebardes to Rue du Temple Neuf. Restaurant and food retailers are dominant while the street also hosts several upper- in other activity sectors such as fashion, accessories or beauty (Eric Bompard, Furla, Le Tanneur, Kiehl s). RUE DE LA HAUTE-MONTEE Rue de la Haute-Montée is a small pedestrian street linking Place de l Homme de Fer to Rue de la Mésange. Located near L Aubette shopping centre, Rue de la Haute- Montée is anchored by Le Printemps department store and also hosts a few middle. PLACE DES HALLES Located outside of la Grande Île, a few minutes away from Place Kléber and Strasbourg train station, Place des Halles is one of the city s most prominent shopping centres. Opened in 1979, this 42,000 sqm downtown shopping centre attracts over 13 million visitors each year. Anchored by BHV department store, C&A, Go Sport and Sephora, Place des Halles is a key destination for international mass-market retailers in a wide range of activity sectors. Place des Halles has been renovated in RIVÉTOILE SHOPPING CENTRE A 30,000 sqm downtown shopping centre, opened in 2008 and located 4 kilometres away from Place Kléber, Rivétoile is adjacent to one of the three most visited multiplex cinemas in the provinces. Anchored by a Leclerc hypermarket and visited by nearly 6 million visitors annually, Rivétoile hosts over 90 units, half of which are mass market fashion retailers including Zara, H&M, Hollister or Mango. The shopping centre was recently sold by Unibail-Rodamco to Wereldhave as part of a portfolio of six shopping centres located in France and the Paris region. 3
5 MARKET OVERVIEW KEY AREAS / STREETS/ SHOPPING CENTRES CONSUMER PROFILE MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT FOR 200 SQM UNIT INC. KEY MONEY ( /SQM/YEAR) RANGE OF UNIT SIZES (SQM) Place Kléber/ Aubette & Maison Rouge shopping centres Etam, Camaïeu, Lancel, Stradivarius, Zara, FNAC, Habitat, Apple, Undiz 1,500-2,000 Up to 500 Rue des Grandes Arcades Mass market retailers Celio, Minelli, André, Naf Naf, Etam, Mango, Levi s, Adidas, Monoprix, Sephora, Superdry Desigual 1,600-1,800 Up to 500 Rue des Hallebardes Lacoste, Kusmi Tea, The Body Shop, Swarovski, Calzedonia 1,200-1,500 Up to 250 Rue du Vieux Marché aux Poissons Aigle, Zapa, Maje, Rodier, Mauboussin, Gerard Darrel, Comptoir des Cotonniers, Geox, The Kooples De Fursac 1,000-1,500 Up to 200 Rue de la Mésange Mid range to luxury retailers Cartier, Hermes, Façonnable, Sonia Rykiel, Montblanc, Louis Vuitton, Sandro, Zadig & Voltaire, The Kooples, Escada, Nespresso Bash, Violeta by Mango 1,400-1,600 Up to 250 Rue de la Haute- Montée Le Printemps department store, The Body Shop, Freeman Porter, Celio Club, Karen Millen, Eurodif Vans 1,200-1,500 Up to 1,500 Rue des Orfèvres Local shoppers, tourists Furla, Eric Bompard, Kielh s, L Occitane en Provence, Le Tanneur, Marionnaud La Chambre aux Confitures 1,000-1,500 Up to 250 Rivétoile Local residents, Mass market retailers Desigual, Gap, H&M, Zara, Bershka, Célio, La Grande Récré, Sephora, Yves Rocher, Leclerc hypermarket, Bershka, Hollister, Kiko, Marionnaud, Mango, Oysho, Superdry, Swarovski, Tally Weijl Calzedonia, Les P tites Bombes, Sketcher s, Timberland 800 All sizes Place des Halles Local residents Mass market retailers New Look, Toys R Us, C&A, Darty, Go Sport, H&M, Sephora, Zara, Mango, Undiz, Vapiano, Pimkie, Jules, Jennyfer, Etam, Celio, Bonobo, André Calzedonia, Kaporal, The Kase 1,400 All sizes Rental values are quoted in EUR/ sqm/ year (ZA rents in HS). 4
6 DEVELOPMENT TO WATCH OUT FOR SHOPPING PROMENADE ZONE COMMERCIALE NORD Total Size (sqm) 1 st phase GLA (south) 2 nd phase GLA (medium) Planned Opening Date Consumer Profile 86,000 65,000 (60 units including transfers 21,000 (15 units) 2019 (1 st phase) 2021 (2 nd phase) Mass-market to mid-range, local residents and tourists. ABOUT THE DEVELOPMENT Anchor tenant - Cora LE STRASBOURG PRADO NEW DEVELOPMENT WATCH Centrally located near the recently renovated Stade Vélodrome, the shopping centre was built around a new commercial thoroughfare, and opened in Totalling 23,000 sqm, the centre offers a full range of retailing, positioning itself in the mid-range to up-market brands while combining anchor stores with kiosks and cafés. Some space with terrace access is dedicated to a food court. 5
7 FOOD & BEVERAGE Alsace s strong culinary traditions reflect the combined influences of the French and Germanic cultures. Alsace is worldrenowned for some of its local products such as wine or foie gras and specialities including choucroute, potato rösti and baekeofe. Winstubs are one of the most interesting features of the Alsatian gastronomy. Traditional restaurants where both local residents and tourists have dinner in a warm atmosphere sitting around wooden tables covered with red chequered tablecloths, many winstubs are located in the Grande Île area including Yvonne, Le Clou, or Zuem Strissel. Close to the Cathedral, La Casserole offers original dishes to taste in a cosy environment. Located in the South West of la Grande Île, la Petite France is one of Strasbourg's most popular destinations for tourists and an area comprising many winstubs including L Oignon or Lohkäs and a handful of restaurants offering a more modern and creative cuisine such as Umami or La Cambuse. Outside of la Grande Île, a few districts in the city centre host fine restaurants such as Le Bistrot du Boulanger or le Gavroche in Krutenau, or Buerehiesel in Le Parc de l Orangerie, near the Council of Europe. KEY AREAS CONSUMER PROFILE FOOD & BEVERAGE OPERATORS Grande Île/Cathédrale Local residents, tourists Yvonne, Kammerzell, Zuem Strissel, Le Saint- Sepulcre, Le Tire-Bouchon, Le Clou, La Table de Louise, La Casserole, Au Crocodile La Petite France Local residents, tourists L Oignon, La Cambuse, Umami, Lohkäs, La Rivière Outside of La Grande Île Local residents Le Bistrot du Boulanger, Gavroche, Buerehiesel 6
8 CHRISTIAN DUBOIS Head of Retail Services France Cushman and Wakefield LLP Etoile Saint Honore 21 rue Balzac Strasbourg Tel: Mob: WE ARE LEADING INNOVATING TRUSTED EXPERTS ONE TEAM CLIENT FIRST CREATING OPPORTUNITIES GLOBAL No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and the 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 LLP. All rights reserved. 7
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