Commercial buildings are re-emerging after several years of questioning their business model. Covid-19 pandemic and movement restrictions as a result It caused the country’s main arteries to fall to historical lows driven by the vitality. decline of tourism. At that time, the first shops to close were ‘souvenirs’ that did not issue invoices without passengers.
At the time, there was speculation that online commerce could endanger traditional commerce, but ultimately that wasn’t the case. “Despite the threat of ‘e-commerce’, facilities on the main streets are still in high demand. People still want to go and interact. That’s why brands continue to work on new expansions.” Sergio Rodriguez RipollHead of offices and retail at consulting firm TC Gabinete Inmobiliario.
Jose Manuel ZafraThe director of facilities and investment department at Gilmar Consulting Real Estate, for his part, recalls that the main streets of the city center benefited from a customs change that resulted in the closure of many facilities in the secondary areas.
New trends that represent a concept change are also detected. “In many cases ‘flagships’ are created, physical stores focus on online purchases,” they comment. Jesus Segado Iglesias And Javier Escudero Tamayo partners of the consulting company Smart Invest Real Estate.
For example, it is very possible that a small operator with a 100 square meter store that pays 14,000 Euros per month cannot afford the rent with physical sales alone, but that store is still “It is the best showcase to promote the brand” and that’s why they want to be in the best locations.
In the case of Madrid, Gran Vía is the busiest artery in Spain and the fourth in Europe., according to a report last August by consulting firm Cushman & Wakefield. According to a JLL market research, 80,500 people pass by on average every day. Most common businesses Restaurants that make up 30% of the offer, This is followed by fashion and accessories with 25%. According to JLL, companies looking to open their doors on Gran Vía face an average monthly rent of 249 euros per square meter.
It also has an average rent of 249 euros per square meter. Puerta del Sol surroundings and Preciados streetanother of the capital’s most popular shopping areas, with 62,000 pedestrians passing through every day. As with Gran Vía, it pioneers fashion and accessories along with restaurants, but its commercial mix is broad. Here space available for installation less than 4% of total area.
The third busiest street is Fuencarral.The bases of how perpendicular to Gran Vía and pedestrianization allow for economic development. “It’s not a street for every brand, but there’s a lot of demand. The buildings are often very easy to rent because they’re not big, so they’re perfect for alternative fashion companies or those in a growth phase.” TC Gabinete Inmobiliario consultant. . It is the commercial area where the prices are the most affordable., 178 Euros per square meter per monthalthough the availability to settle there is less than 4%.
Finally, it should be emphasized. Calle Serrano and Calle de Goya district. Sergio Rodríguez Ripoll said: “This area was the region that recovered best after the pandemic because it has a very solid local audience, including a high-income profile who seeks luxury and lives in the Salamanca neighborhood.”
Companies Here they pay an average of 251 euros per square meter per month. “The pandemic, like all business axes, has led to a correction in revenue, but the reduced dependence on tourism and the significant concentration of luxury brands that are more resilient to the crisis contributed to a faster recovery in revenues than on other business axes. axes” confirms JLL.
Barcelona never goes out of style
In the case of Barcelona, the Portal de l’Angel It is the street with the highest daily influx., about 47,000 pedestrians concentrated around Plaza de Catalunya. Fashion and accessories make up most of the offer, 75% of the total. According to JLL, “High demand has resulted in a lack of facilities, with new brands being included in the street’s commercial offering in 2022 and early 2023.” Here, companies that want to own a store have to pay an average. 248 Euros per square meter per month.
time for Passeig de Gracia to go past about 42,000 people a day, The most important luxury shopping areas in Spainand with great tourist interest. Selective demand by luxury brands for buildings and premium products by regular users has become more resilient to the economic situation, increasing the ‘premium’ rent to 256 Euros per square meter per month”, the report points out 75% of the offer on Paseo de Gracia are fashion brands and accessories and vacant areas make up 7% of the commercial area of the region.