cbre retail viewpoint (2015 march)

8/9/2019 CBRE Retail viewpoint (2015 March)

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VIEWPOINT

Retail bankruptcies and retail real estate in TheNetherlands

The recent high number of retail bankruptcies in the Dutch retail sector has fuelled

the debate on the viability of Dutch retailers and increasing vacancy in the high streets

and shopping centres. This viewpoint provides insights in the recent wave of

bankruptcies and the impact on Dutch retail property. Have the recent bankruptciescaused a drop in demand for retail space or do we see newly entering and expanding

retailers taking up the vacated units in the Dutch high street and shopping centres?

MARCH 2015 CBRE Resear ch © 2015 CBRE BV | 1

0

200

400

600

800

1.000

2009 2010 2011 2012 2013 2014

Supermarkets anddepartment storesFood

Gas filling stations

Consumer electronics

Household goods

Leisure goods

Clothing, shoes and othergoodsMarket vending

Internet and catalogues

Note: Sole proprietorships are excluded in the figuresSource: Statistics Netherlands

Figure 1: Numberof retailbankruptcies in theNetherlands



VIEWPOINT


DUTCH RETAIL MARKET

Table 1: Top 10 of retailers went out of business between 2012-2015

Year Retailer Sector Number of stores

Total sq m of retail

space

2013 Globe Travel agency 206 N/A

2014 Free Record Shop Entertainment 155 20,400

2014 Halfords Hardware 137 35,100

2015 Schoenenreus Shoes 125 44,200

2013 Henk.nl Clothing 98 28,500

2013 E-plaza Entertainment 52 4,600

2013 Harense Smid Consumer electronics 44 36,000

2014 Siebel Jewelry 38 3,300

2012 Mexx Clothing 37 14,500

2014 Sabon Cosmetics 25 1,100Source: CBRE, Locatus



VIEWPOINT


DUTCH RETAIL MARKET

New market entries

Discount segment

-

20.000

40.000

60.000

80.000

100.000

120.000

140.000

2010 2011 2012 2013 2014

Discount

Luxury

Mid range

Specialist

Source: CBRE, Locatus, VTIS

Figure: 2 Takeup of newentrants andexpandingretailers (sq m)



VIEWPOINT


DUTCH RETAIL MARKET

Table 2: Top 5 expanding value and discount retailers since 2010

Luxury retail

Table 3: Top 5 expanding luxury retailers

Year of

entry

Retailer Sector

Number of stores

since 2 1

Total square metre of new

retail space since 2 1

2012 Apple Consumer electronics 3 5,600

2011 Massimo Dutti Clothing 6 3,900

2012 Hugo Boss Clothing 4 1,500

2012 Michael Kors Clothing 4 1,000

2012 Ikks Clothing 4 700

Source: CBRE, Locatus, VTIS

Year of

entry

Retailer Sector

Number of new

stores since 2 1

Total sq m of new retail

space since 2 1

2010 Primark Clothing 10 62,300

2011* Action Household 52 58,500

2000Mediamarkt (inclSaturn)

Consumer electronics 6 30,800

1989 H&M Clothing 18 28,400

2012 Big Bazar Household 26 18,900

* Expansion after investment by 3iSource: CBRE, Locatus, VTIS



VIEWPOINT


DUTCH RETAIL MARKET

Evolving retail property market

CBRE Netherlands Research

Disclaimer: Information herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and

make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. This information

is designed exclusively for use by CBRE clients, and cannot be reproduced without prior written permission of CBRE.

cbre retail viewpoint (2015 march)

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