Fashion retailers are leading retail leasing activity across Europe, accounting for nearly a third of the 900 deals in the first half of 2024.
Those deals were for roughly 40% of the total leased area, with JD Sports and brands owned by Calzedonia and Inditex amongst the most active, according to Cushman & Wakefield.
Food and beverage operators and personal goods retailers accounted for 15% and 14% of space respectively.
In the personal goods sector, luggage retailers posted an increase in leasing activity. Brands such as Tumi, Delsey, Carl Friedrik and Rotate have opened stores in 2024, with many planning further expansion.
Mass-market retailers accounted for nearly 70% of both the leased floorspace and total deal volume in the first half of 2024, reflecting an increase of more than 12% in deals and a 5% rise in leased space, compared to the same period in 2023.
Luxury brand retailers saw a significant drop, with the floorspace taken declining by more than 50%, and the number of luxury retail deals down by 40%.
Rental rates for all types of retail properties, including high streets, shopping centres and retail parks, have experienced either growth or stability over the past year.
Rob Travers, head of EMEA retail at Cushman & Wakefield, said: “Our analysis of lettings shows that retailers are more focused than ever on elevating the customer experience. Many brands are positioning their stores as strategic destinations, using targeted strategies and creating compelling reasons to visit stores and boost brand engagement.
“Whilst the economic outlook continues to improve, customer and retailer sentiment is still cautious. Now more than ever, making the right real estate decisions is a vital component in determining retailer success.”
Image from gonghuimin468/Pixabay
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