0Cushman & Wakefield | Madrid | 2019

MADRIDCushman & Wakefield

Global Cities Retail Guide

1Cushman & Wakefield | Madrid | 2019

MADRIDOVERVIEW

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 key secondary locations including Princesa, Orense and Alcala Streets.The City of Madrid continues to renew itself and adapt to changing trading environments, such as the recent refurbishment along Serrano Street with improved pedestrian mobility. At the Centro district many streets have also seen the refurbishment of buildings and changing uses in order to accommodate new brands in the city centre, where in the past it has been difficult to find good quality retail space as well as suitable hospitality spaces.

Barrio de Salamanca is one of the two most important commercial areas of Madrid. A considerable number of international retailers are located in this area. As a result, the diversity of the retail offer in this area makes it an ideal destination for tourists and customers seeking the many brands that trade here. Within the district there are key luxury streets, such as Ortega y Gasset, and also streets geared towards mass market, including Goya and Velázquez. Along the secondary streets, such as Claudio Coello, Lagasca, Jorge Juan and Ayala, a large number of premium brands also have a strong presence. Serrano acts as the main commercial artery of the neighbourhood with the important luxury, premium and mass market brands concentrated along its two sidewalks. Barrio de Salamanca offers a wide mixture of commercial, cultural and gastronomic supply.

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CENTRO DISTRICTThe prime high streets in this area are Gran Via, Preciados, Mayor, Arenal, Fuencarral, Carmen, Monteraand Puerta del Sol. Some of the largest and most commercial brands from all sectors (fashion, services, hotels, cinemas, restaurants and theatres) have a presence in this area. The Centro district is the largest area of the city both in terms of tourism activity and commercial and cultural significance.

MADRIDKEY RETAIL STREETS & AREAS

BARRIO DE SALAMANCAAn area with the highest purchasing power of the city and therefore home to many well know and prestigious brands within the luxury, mass market and high-end fashion sectors. Streets such as Serrano, Ortega y Gasset, Goya, Claudio Coello, Ayala, Hermosilla, Lagasca and Jorge Juan are the most popular.

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MADRIDMARKET OVERVIEW

KEY AREAS/ STREETS

CONSUMER PROFILE

MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT

FOR 200 SQM UNITRANGE OF UNIT SIZES

Preciados Mass Market Zara, Blanco, Mango, Intimissimi, Calzedonia, Desigual, FNAC, El Corte Inglés, Bershka.

Antoinette, Change Money €270/ sqm/ month 20 – 3,000 sqm

Goya Mass Market Zara, Massimo Dutti, Bershka, Calzedonia, Kiko, Vodafone, Aristocrazy, El Corte Inglés.

Ikea, Primor, Rituals, McDonald’s €170/ sqm/ month 20 – 2,000 sqm

Fuencarral High End, Mass Market

Billabong, Maje, Gas, Kiehl´s, Desigual, Foot-Locker, North Face,Quiksilver, Pepe Jeans, El Ganso.

Jimmy Lion, Lateral, Pompeii, Umber Shoes €190/ sqm/ month 40 –700 sqm

Gran Vía Mass Market Zara, H&M, Mango, Nike, Real Madrid, Pull & Bear, New Balance, Kiko, Springfield.

Scalpers, Avis, Rituals, Scalpers, Huawei €265/ sqm/ month 40 – 4,000 sqm

Princesa Mass Market Zara, Mango, Uno de 50, Amichi. Wagamama, Singularu, Alborto €95/ sqm/ month 30 – 3,000 sqm

Ortega y Gasset Luxury

Escada, Hermes, Cartier, Tiffany’s, Valentino, Abercombie & Fitch, Kuoni, La Perla, Dolce & Gabbana, Jimmy Choo, Tod’s, Bulgari.

Celine, Philipp Plein, Chaumet €220/ sqm/ month 40 – 1,000 sqm

Serrano Luxury, High End

Loewe, Chopard, SalvatoreFerragamo, Max Mara, Adolfo Domínguez, Versace, Aristocrazy, Swarovski, Breitling, Rimowa, Uno de 50, Zara, Massimo Dutti, Uterqüe, Hoss Intropia, El Corte Inglés, Coach, Max & Co.

Pandora, Ba&Sh, Alfaro 1926, Kering €270/ sqm/ month 40 – 5,000 sqm

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ISLAZULLocated to the south of Madrid with 90,700 sqm of GLA, and more than 4,100 parking spaces, Islazul is one of Madrid’s major retail destinations, welcoming more than 10 million visitors annually. Tenants include all the major retail brands operating in Spain such as Primark, H&M, Zara, C&A and Mango.

MADRID – XANADÚOpened in 2003, it has 220 retail units, totalling circa 153,000 sqm of GLA. The main anchors are Hipercor, Tiendas el Corte Inglés, together with Primark, H&M, Zara and Mango. Xanadú was one of the first modern shopping centres to open in Madrid and benefits from a large leisure component, including an indoor ski slope, known as Madrid Snow Zone, together with a 15 screen cinema complex.

MADRIDSHOPPING CENTRES

PARQUESURLocated to the south of the city, Parquesur opened in 1989 and offers more than 150,000 sqm of retail floor space. The anchors are Alcampo and El Corte Inglés. The mall provides a range of national and international retailers such as Primark, Zara, Fnac, Superdry, H&M, Desigual and Nike. In 1991 it received a European Design Award.

LA VAGUADALa Vaguada located north of Madrid opened in 1983 and it was the first shopping centre to open in the city. This scheme has a total of 260 retail units and restaurants, including El Corte Ingles, Alcampo supermarket, C&A, Zara, Cortefiel and Sfera.

PLAZA NORTE 2Plaza Norte 2 shopping centre is located in San Sebastián de los Reyes, near the north edge of the city. It has 51,500 sqm GLA distributed across 3 levels and 220 units, and it offers a good mix of national and international brands along with 7,500 sqm of parking space. This shopping centre is affectionately known as la cúpula de Madrid (Madrid's dome) because of the spectacular 35-metre high dome located above the centre of the building.

PLENILUNIOPlenilunio is a successful shopping centre in Madrid, it opened in 2006 with a total of circa 70,000 sqm GLA. The mall provides a range of national and international retailers across 200 units.

PLAZA RIO 2Located close to central Madrid and along the River Manzanares, Plaza Rio 2 opened in Autumn 2017, with 40,000 sqm of GLA. The scheme has a mix of retail and leisure, with a strong fashion, F&B, leisure and entertainment offer. Key retailers are H&M, Guess, Armani Exchange, Mango, Zara and Levi’s.

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Spain is well known for the quality and diversity of its food. Most likely for this reason, the market 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 traction in the market. More recently a number of new fine dining concepts have been created by professionals who previously worked in Michelin star restaurants and have now set up their own independent restaurants. This has given way to an industry that is booming. Madrid has successfully expanded its cuisine supply by importing concepts from around the world without impacting on its tradition of fine dining.

Zona Centro: La Latina, Cava Baja, Plaza de Santa Ana are areas in high demand for restaurants.

Chueca/ Barquillo: home to some independent, alternative fashion brands and many good quality restaurants.

Genova Area: restaurant chains and major food & beverage brands are present in the area.

AZCA/Castellana (Orense, Paseo de la Habana, SorAngela de la Cruz, Paseo de la Castellana and Capitan Haya) is the financial area of the city and for this reason is also home to a wide supply of food and beverage operators.

Barrio de Salamanca being the most exclusive residential area, and an important office location, is also home to a wide supply of restaurants.

There is also a new trend which has been popping up recently known as the “gourmet markets”, notably the San Miguel and San Antón markets in the centre of Madrid, or Isabela on Paseo de la Habana. Most recently the largest project of this kind that has opened is called Platea, located just off Paseo de la Castellana in the Salamanca district.

MADRIDFOOD & BEVERAGE

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FOOD & BEVERAGE MARKET OVERVIEWMADRID

KEY AREAS CONSUMER PROFILE FOOD & BEVERAGE OPERATORS

RENT FOR 350 SQM UNIT

La Latina/Cava Baja/Plaza de Santa Ana

Longstanding entertainment area. Cosmopolitan and tourism spot.

ME Restaurant & Lounge Bar Botin, La Camarilla, Negro de Anglona, El Viajero, Casa Lucío, Mercado de San Miguel, Posada de la Villa, La Sureña, Cervecería Santa Ana.

€30-90/ sqm/ month

Chueca/ Barquillo Edgy, trendy, important nightlife. Tagliatella, Miss Sushi, Makkila €25-50/ sqm/ month

Genova Executive area during the week. Youth at weekends due to fast food chains.

Wagamama, Rodilla, Fosters Hollywood, Mahou. €60-80/ sqm/ month

Azca/ CastellanaCBD and a fashionable district for upmarket restaurants and offices.

TGB, Mas que menos, Faborit New York Burguer, Lateral, Honest Greens.

€30-70/ sqm/ month

Barrio de SalamancaCBD and a fashionable district for upmarket restaurants, offices and tourists

Ten con Ten, Vicook, La Maruca, El Paraguas, Gordo, Capuccino, Ramses, OterEpicure, Taberna Quintin, Los Gallos, Dingo

€30-120/ sqm/ month

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LA DEHESALa Dehesa retail park opened in 2002 with 9,400 sqm of GLA. It is located in Alcalá de Henares northeast of Madrid and has 8 commercial units and 350 parking spaces. It is located right next to La Dehesa Shopping Centre.

MEGAPARKMegapark retail park is located in San Sebastián de los Reyes in Madrid. Opened in 1999 it is probably the most successful commercial park of Spain with more than 20 million visitors annually. With 108,000 sqm of GLA and 7,500 parking spaces there are 33 commercial units in this retail park. It is next to the large shopping centre, Plaza Norte 2.

MADRID

RIVAS FUTURALocated to the east of Madrid, in one of the largest residential developments of the city, Rivas Futura combines a retail park and a shopping centre (H2O). With a GLA of 55,000 sqm, the first phase of the retail park opened in May 2006 and a second in spring 2007.

RETAIL WAREHOUSING/BIG BOX RETAIL

PARQUE OESTE ALCORCÓNOne of the most successful retail parks in Spain, with 125,000 sqm of GLA it includes one Alcampo (Auchan) shopping centre. Open in 1994, it was complemented in December 2002 by Opcion Entertainment Centre (anchored by a 23-screen multiplex cinema). It is located by the N-V motorway and next to the Rey Juan Carlos University. One large Ikea store has been opened (39.500 sqm) making it the largest Ikea unit in Spain.

PLAZA NUEVAThis retail park is located in the southern part of Madrid, Leganés. With 51,600 sqm of GLA, the scheme opened in 2009. The total number of parking spaces exceeds 2,800 units. Diverse offering of retail stores can be found, with a hypermarket, sports stores, DIY, shoes, toys, consumer electronics and car services.

CARRALEROThis retail park is located opposite the Centro Oeste shopping centre and next the Equinoccio entertainment centre, in Majadahonda. It has a high-end Sanchez Romero supermarket and major medium-sized stores such as Aki, Media Markt, ToysRus and Leroy Merlin, some of them are gathered in the Millennium shopping centre. The scheme also has a skate ring, Palacio de Hielo. El Carralero which opened in June 2012.

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OUT OF TOWN RETAIL MARKET OVERVIEW

MADRID

RETAIL PARK OR FACTORY OUTLET RETAILERS PRESENT F&B AND LEISURE TENANTS RANGE OF UNIT SIZES

LA DEHESAMedia Markt, Merkal Calzados, Marco Aldany, Décimas

McDonald’s, Flunch, Royal Kebad, Ying sushi, Cocheceitos Electricos

300 – 4,000 sqm

CARRALEROLeroy Merlin, Decathlon, Merkal, Kiabi, Nourato, Lidl, Media Markt,

Starbucks, McDonald’s, Cinesa -

MEGAPARKIkea, Worten, Casa, Media Markt, Leroy Merlin, Conforama, Merkal

Ginos, Vips, Friday Project, Burger King, Wok House

500 – 1,000 sqm

PARQUE OESTE ALCORCÓNAlcampo, Kiabi, Toy’r’us, Decathlon, Conforama, Leroy Merlin, Worten, Media Markt, Kiabi

Buffalo Grill, McDonald’s, Bocatta, Burger King, Espazo Enxebre

350 - 8,800 sqm

PLAZA NUEVADecathlon, JYSK, Merkal, Feu Vert, Kiwowo, Worten, Carrefour McDonald’s, Foster’s HollywoodCafé/Bar Layla 526 - 4,917 sqm

RIVAS FUTURALeroy Merlin, Media Markt, El Corte Inglés, ToysRus, Worten, Conforama, Deportes Halcón, Kiabi

La Jamboteca, Restaurante Al punto, Brooklyn Fitboxing

971 -18,000 sqm

RETAIL WAREHOUSING/BIG BOX RETAIL

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.

© 2019 Cushman & Wakefield LLP. All rights reserved.

ROBERT TRAVERS, MRICSHead of Retail Agency SpainTel: +34 934 881 881Mob: +34 661 43 55 83Fax: +34 932 152 950robert.travers@eur.cushwake.com