Post by account_disabled on Mar 12, 2024 6:31:10 GMT
Spain is positioned on the international scene as a demand for renowned brands that are committed to establishing themselves in the country. Among the main High Street axes we find Portal de l'Àngel and Paseo de Gracia in Barcelona and the Madrid streets of Gran Vía, Preciados, Fuencarral, Serrano and Puerta del Sol . The large influx of consumers and their position as tourist and shopping enclaves make these streets the most 'prime' in the country. In a series of reports, we will analyze the main shopping streets in Spain. On this occasion, we delve deeper into Preciados Street, one of the historic shopping streets in Madrid and the birthplace of retail in the capital.
In the heart of the capital is Madrid's Preciados Street, which extends from Puerta del Sol to Plaza de Santo Domingo, crossing Plaza de Callao . This commercial artery, one of the Cambodia Telegram Number Data most relevant in Spain, maintains its historical essence without losing sight of new trends, combining traditional shops and bars with modern franchises and fashion brands. This area is positioned as a tourist and shopping enclave, which is why it has very high pedestrian traffic in the section between Sol and Callao, reaching maximum levels of traffic with 62,000 pedestrians per day on average.
The majority of the stores on Preciados Street and Puerta del Sol belong, according to a report by the real estate consultancy JLL , to the fashion and accessories segment (29%), with an offer focused on a massive and young audience, with brands mainstream such as Mango, Sfera, several brands of the Inditex Group (Zara, Bershka, Pull & Bear and Stradivarius), Calzedonia, Intimissimi, Desigual or Levi's .
Likewise, the footwear sector also has a strong presence in the area. 26% of the premises in Preciados-Sol belong to the restaurant sector. Most of these establishments are located in the section of Preciados Street between Plaza de Callao and Plaza de Santo Domingo, highlighting brands such as La Tagliatella, Parrilla De María, El Asador de Aranda or Taco Bell . The offer of services and health and beauty is also notable (14% and 13% of the stores, respectively) and mainly includes currency exchange, telephone, pharmacies, perfumery or cosmetics stores, and opticians.
All the establishments are of 'mainstream' type and those of national origin predominate (67%). Availability in Preciados-Sol currently stands at 4%, considering the number of vacant premises. Various actions are being undertaken in the area around Preciados-Sol to boost the already high number of visitors. Such is the case of the opening of the Canalejas Complex last year or the pedestrianization of Puerta del Sol. Likewise, the transformation of the building located at number 28 on Preciados Street, where the Fnac brand is currently located, is planned to convert it in a mixed-use building with a new exclusive offer of restaurants with terraces, new commercial premises at street level and offices, Fnac maintaining its location, but reducing the surface area (about 3,800 m2 in total).
Prime rent in the area reaches 249 euros/m2/month , with an increase of 1.5% in the last year. Although demand from operators is high, no relevant transactions have occurred in the last year, given the low availability of premises. By the end of 2023, we estimate annual growth in prime rents of around 1.5%, and for the next four years it is foreseeable that rents can grow at a rate of 2% per year on average.
In the heart of the capital is Madrid's Preciados Street, which extends from Puerta del Sol to Plaza de Santo Domingo, crossing Plaza de Callao . This commercial artery, one of the Cambodia Telegram Number Data most relevant in Spain, maintains its historical essence without losing sight of new trends, combining traditional shops and bars with modern franchises and fashion brands. This area is positioned as a tourist and shopping enclave, which is why it has very high pedestrian traffic in the section between Sol and Callao, reaching maximum levels of traffic with 62,000 pedestrians per day on average.
The majority of the stores on Preciados Street and Puerta del Sol belong, according to a report by the real estate consultancy JLL , to the fashion and accessories segment (29%), with an offer focused on a massive and young audience, with brands mainstream such as Mango, Sfera, several brands of the Inditex Group (Zara, Bershka, Pull & Bear and Stradivarius), Calzedonia, Intimissimi, Desigual or Levi's .
Likewise, the footwear sector also has a strong presence in the area. 26% of the premises in Preciados-Sol belong to the restaurant sector. Most of these establishments are located in the section of Preciados Street between Plaza de Callao and Plaza de Santo Domingo, highlighting brands such as La Tagliatella, Parrilla De María, El Asador de Aranda or Taco Bell . The offer of services and health and beauty is also notable (14% and 13% of the stores, respectively) and mainly includes currency exchange, telephone, pharmacies, perfumery or cosmetics stores, and opticians.
All the establishments are of 'mainstream' type and those of national origin predominate (67%). Availability in Preciados-Sol currently stands at 4%, considering the number of vacant premises. Various actions are being undertaken in the area around Preciados-Sol to boost the already high number of visitors. Such is the case of the opening of the Canalejas Complex last year or the pedestrianization of Puerta del Sol. Likewise, the transformation of the building located at number 28 on Preciados Street, where the Fnac brand is currently located, is planned to convert it in a mixed-use building with a new exclusive offer of restaurants with terraces, new commercial premises at street level and offices, Fnac maintaining its location, but reducing the surface area (about 3,800 m2 in total).
Prime rent in the area reaches 249 euros/m2/month , with an increase of 1.5% in the last year. Although demand from operators is high, no relevant transactions have occurred in the last year, given the low availability of premises. By the end of 2023, we estimate annual growth in prime rents of around 1.5%, and for the next four years it is foreseeable that rents can grow at a rate of 2% per year on average.