Post on 20-Aug-2020
MARKet SuRveyCommerCial | retail
2015/2016
Hamburg
Grossmann & Berger’s promise: Flagshipstores.
www.grossmann-berger.de | page 2
CommerCial | retailhAMbuRg 2015/2016
230
180
160
140
140
130
100
80
80
40
40
40
30
280
280
220
210
180
180
140
130
120
60
60
60
50
0 50 100 150 200 250 300
Spitalerstraße
Neuer Wall | BID
Mönckebergstraße
Jungfernstieg
Poststraße | BID
Gerhofstraße | BID
Große Bleichen | BID
Bleichenbrücke | BID
Hohe Bleichen | BID
ABC-Viertel
Großer Burstah | BID
Dammtorstraße | BID
Colonnaden
Maximum attainable rents.2016/at February | by locations
Source: Grossmann & Berger research
Currently some 345,000 m² of retail space is available in Ham-burg’s inner city, spread over a large number of shopping streets, shopping centres and malls. Being the two most heavily frequen-ted shopping streets, Spitalerstrasse and mönckebergstrasse are the prime retail locations. the highest rents are charged here. However, there is practically no empty space in these locations. at present a shop with between 80 and 120 m² in a prime site on Spitalerstrasse will rent for up to €280/m². on mönckebergstras-se the highest attainable rent is now some €220/m²/month.
Neuer Wall in the western part of the city centre is the prime loca-tion for luxury labels. Here too, rents for between 80 and 120 m² of retail space can be as high as €280/m². But, unlike the situa-tion on Spitalerstrasse and mönckebergstrasse, some properties can be found offering shop floor space of varying sizes for month-ly rents between €140 and €220/m².
Key FActS | RetAil
| Purchasing power per capita
| Purchasing power index*| turnover per capita
| turnover index*| Centrality index*
6,961 €107.87,094 €123.1114.2
* Germany = 100
these vacancies are concentrated in the section of the street lea-ding to the Stadthausbrücke S-Bahn station, which is currently impaired by construction work on the “Stadthöfe” project.
Whether office or retail space - at present there is a lot of buil-ding activity in the city centre. the process of downtown renewal is in full swing. retail projects such as the “Stadthöfe” and “al-ter Wall” are changing the face of shopping in the city, generating new locations and even greater variety.
“In view of the small number of available properties, rents in the most popular locations remain high. hoch.” Sven Bechert | Head of retail
lOcAtiONS AND ReNtSretailers in the City
max. attainable rents for shops with 300 -500 m² of floor space| €/m² mth.max. attainable rents for shops with 80 -120 m² of floor space| €/m² mth.
www.grossmann-berger.de | page 3
Jungfernstieg
Neu
er
Dam
mto
rstr
aße
EsplanadeGorch-Fock-Wall
Colonnaden
Colonnaden
Jung
fern
-
stie
g
Stadthausbrücke
Ballindam
m
Hermannstr.
Ferdin
andstraße
Raboisen
Rosen-
Gerhart-Hauptmann-
Platz
Meßberg
Burchard-platz
Deichtor-platz
Willy-Brandt-
Straße
AlterFisch-markt
Adolfs-platz
Rathaus-platz
Gänse-markt
Axel-Springer-
Platz
Stephans-platz
Alter
Wall
Wall
Neuer
ABC-
straße
Bleichen
Große
Hoh
eB
leic
hen
Kaiser-Wilhelm-Str.
Wexstraße
An der S
tadthausbr.
Adm
iralit
ätss
tr.
Valentinskamp
Caffam
acher-reihe
Neuer Wall
Rödi
ngsm
arkt
Rödi
ngsm
arkt
Steintordamm
Steintorw
all
Steintor-
wall
Ernst-
Holz-
damm
St. Georgstr.
St. Georgs KirchhofRautenberg
str.
Alstertwiete
Merck-Straße
Speersort
Gr. Reichenstr.
twiete
Brands-
Kl. Reichenstr.
Schopenstehl
Gr. Reichenstr.Neß
Hopfenmarkt
GraskellerAlte
nwallbr.
Hahntrapp
Börsenbrücke
Adolphsbrücke
Bleichenbrücke
Poststraße
straße
Jungfernstieg
Post-
Kl. Theaterstr.
Kalk
hof
Gerhofstr.
Drehbahn
Dammtorwall
Welckerstr.
Büsch
stra
ße
Fehlandstr.
Große
Theaterstraße
Schleusenstr.Große Bleichen
Amelungstr.
Heuberg
Neue
ABC
-Straße
Schauen-
Große Johannisstr.
GroßerBurstah
burger- straße
Pelz
er-
stra
ße
Ida-
Ehre
-Pla
tz
Burchardstr.Altstädter Straße
Kattrepel
Springeltw
iete
Kl. Rosenstr.
Mohlenhofstr.
Jakobi-kirchhof
Burchardstr.
Niedern-
Klingberg
Dep
enauKat
tr. B
r.
Buc
eriu
sstr
aße
Kleine Johannisstr.Gr. Bäckerstr.
Bro
dsch
rang
en
Tros
tbrü
cke
Neue B
urg
Kl. B
urstahH
olzbrücke
Hermannstr.
Reesendamm
Plan
Bergstraße
Bergstr.
Schm
iede-
straße
Rathaus- straße
Str.
Pumpenstraße
Burchard-
Joha
nnis
wal
l
Klo
ster
-
wal
l
Dom
str.
Willy-
KennedybrückeAn der A
lster
Kirchenallee
Lombardsbrücke
Brandt- Straße
Dom-
str.
Bugenhagenstraße
Steinstraße
Mönckebergstraße
Mönckebergstraße
straße
Spitalerstraße
Lilie
nstr
aße
Raboisen
Alstertor
Gertrudenstr.
Glockengießer-
wall
Glockengießer-
wall
Brands-
ende
Kurzee M
ührenLange M
ühren
Gertruden-
kirchhof
Georgs-platz
Willy-Brandt-Straße
Hopfensack
Dovenfleet
Jako
bikirchhof
Curiens
tr.
Dornbusch
Mönkedamm
Deichstr.
Ferd
inan
dstor
Ferd
inan
dsto
r
St. Georgs Kirchhof
Düst
ernstra
ße
Heiligengeistbr.
Ludwig-Erhard-Str.
Staatsoper
Justizbehörde
Finanzbehörde
Behörde für KulturSport u. Medien
Klinik ABC-Bogen
BSU
Behörde für Stadtentwicklung
und Umwelt
Oberfinanz-direktion
KlinikFleetinsel
Rathaus
ThaliaTheater
Ev.-Ref. Kirche
KunsthalleHamburg
OhnsorgTheater
Dreieinigkeits-kirche
Finanzamt
MoscheeK.D.
Brecht-Sch.
St.-Petri-Kirche
St.-Jacobi-Kirche
Finanzamt
Haupt-bahnhof
Polizei
Bezirksamt Mitte
Kunstverein
Markt-halle
Bücherhalle
Deichtorhallen
HSH-Nordbank
Handelskammer
Börse
HSBA
Polizei
Wallringtunnel
Wal
lrin
gtun
nel
Steintortunnel
StreitsFilmtheater
Schule
Handels-Schule
PassageKino
Binnenalster
Alster-
fleet
Kleine Alster
Bleichen-
fleet
CommerCial | retailhAMbuRg 2015/2016
hAMbuRgeR cityQuality of locations, lettings and developments
Shopping malls Gänsemarkt Passage
Girardet Höfe
Hanse-Viertel
Hamburger Hof
alte Post
Galleria Passage
Kaisergalerie
Kaufmannshaus
Bleichenhof
mellin Passage
europa Passage
HSH Passage
levantehaus
Wandelhalle
Department stores alsterhaus
SportScheck
Karstadt
appelrathCüpper
C & a
anson’s
P & C
Karstadt Sport
Galeria Kaufhof
Saturn
New tenants.City centre of Hamburg i selected lettings 2015
Retail developments.City centre of Hamburg
1 Reserved | Spitalerstr. 22-26 | approx. 2,800 m²
2 Mango | Spitalerstr. 22-26 | approx. 2,200 m²
3 Koton | Spitalerstr. 22-26 | approx. 1,800 m²
4 clas Ohlson | Jungfernstieg 38 | approx. 1,800 m²
5 & Other Stories | Spitalerstr. 28 | approx. 1,000 m²
6 vapiano | Gänsemarkt 24 | approx. 800 m²
7 Who‘s perfect | Große Bleichen 36 | approx. 600 m²
8 lululemon athletica | Poststr. 9-11 | approx. 350 m²
3
1 “Stadthöfe” | Stadthausbrücke
approx. 4,000 m² retail space; 2017 and later
2 “girardet höfe“ | Gänsemarkt
approx. 1,800 m² retail space; 2016 and later
3 Pe Alter Wall | alter Wall/alsterfleet
approx. 10,000 m² retail space; 2018 and later
4 hSh-Passage | Gerhardt-Hauptmann-Platz
approx. 6,800 m² retail space; 2016 and later
5 former Allianz building | Großer Burstah
approx. 22,000 m² retail and office space, 2018 and later
1
2
14
3
45
5
4
21
6
7 8
1a location
1b location
u train
S train
Parking
Shopping mall
Public building
green space
www.grossmann-berger.de | page 4
CommerCial | retailhAMbuRg 2015/2016
BekleidungGastronomie
Spielwaren
Sonstiges
Lebensmittel
52%
15%
9%
10%
3%
11%
take-up of space hamburg-city.2015 | by industry
1,500
5,900
4,000
4,600 5,000
up to
150
up to
500
up to
1,000
up to
2,000
over
2,000
take-up of space hamburg city.2015 | by size and number of lettings
11.9
12.4
12.6 12.4
12.5
2011 2012 2013 2014 2015
Retail turnover hamburg.2011 – 2015 | turnover in millions €
gastronomy
furniture
household goods
sporting
other
clothing
Source: michael Bauer research GmbH, Nürnberg
Source: Grossmann & Berger research
Source: Grossmann & Berger research
the number of new leases signed each year for restaurant and retail premises in the centre of Hamburg is directly linked to the amount of available space. in each of the past three years 47 agreements were concluded for space totalling some 18,000 m². Due to several contracts signed for space in new developments, 2015 saw appreciably more new lets than recent years, with the number of new contracts reported rising to 53 and the amount of space involved to 21,000 m². Fashion and apparel concept stores were especially keen takers of space. accounting for over 50% of take-up, this sector of trade rented more space than any other, followed by gastronomy and furniture/furnishings. Year on year the average amount of space let per lease (including ancillary space) fell from 420 m² to 400 m².
Product presentation issues and creating a positive brand image are becoming increasingly vital in the face of the growing pow-er of internet retailing. increasingly, retailers compete for online shoppers. medium-range forecasts indicate that online retailers will take up to 20% of Germans’ non-food consumer spending. online shops are increasingly influencing consumers’ purchase decisions. the internet offers customers a new level of transpa-rency regarding the quality and price of a product. Consequently, many retail chains, especially international operations, are com-mitted to multi-channel sales strategies. the role of the “bricks and mortar” store is to create a brand experience and burnish its image. Besides, customers still want to handle the goods first. the trade has come to recognize that. Household appliance manufac-turers such as Vorwerk and Bosch/Siemens, or car-makers such as tesla have opened their own shops in Hamburg city centre.
the fact that retail space in Hamburg City is in huge demand with national and international labels and chains shows that attrac-tive city centres are excellent places in which to establish brand awareness and image. However, the supply of space in heavily frequented city centre locations remains very limited. accor-dingly, there are no problems letting new retail projects, such as the development of the former Vattenfall / HeW building on Spi-talerstrasse 22-26. the chain stores reserved (about 2,800 m²), mango (about 2,200 m²) and Koton, a turkish fashion label, (about 1,800 m²) secured space at the new address. the stores are due to open in spring 2017. For the adjoining HSH-Nordbank shop-ping mall, currently undergoing comprehensive refurbishment, it was also possible to find an attractive new tenant in 2015 in the shape of the H&m Group’s premium brand & other Stories (about 1,000 m²).
another redevelopment project in a 1a location is the “Streits House” at Jungfernstieg 38. once used as a cinema, the space is being refitted for Clas ohlson, a Swedish household goods store, that plans to open its first shop in Germany by mid 2016 (about 1,800 m²). New retail space is also now being developed on Gerhofstrasse. Here the “Girardet Höfe” are nearing completion. in December 2015 Vapiano, a successful pizza and pasta chain, opened a branch in this building complex (about 1,200 m²). Some vacant space does, however, remain in the Gerhofstrasse area.
take-up [m²]no. of lettings
17 25 6 3 2
RetAil SPAce MARKetDevelopments in the city centre
www.grossmann-berger.de | page 5
CommerCial | retailhAMbuRg 2015/2016
visitor arrivals in hamburg.2015 | by country of origin
9.5
10.6
11.6 12.0
12.6
5.1 5.6 5.9 6.1 6.3
2011 2012 2013 2014 2015
Overnight stays | visitor arrivals in hamburg.2011 – 2015
business barometer hamburg.2015 | Survey of companies in Hamburg
the business side of hamburg.Hamburg, Germany’s second-biggest city, is a superb bu-siness environment for retailers. Hamburg is growing - currently around 1.8m people live within city limits and more than 5m in the greater metropolitan area, making the city and its environs one of the major economic centres in europe. Some 1.2m people work in Hamburg, and 170,000 businesses and sole traders are registered in the city.
economic factor tourism.tourism is a growing industry in Hamburg. in a recent survey of top european destinations for a city break, Hamburg was in eleventh place. in the space of five years the industry has posted a marked increase in overnight stays (+33 %) and in visitor arrivals (+24 %). it is estimated that, not counting the day trippers, some 6.3 milli-on people visited Hamburg in 2015, generating 12.6 million over-night stays. Hamburg is also increasingly popular with an interna-tional clientèle. Year on year, the number of overseas visitors rose by about 4%. overall, some 22 % of visitors came from outside Germany. the number of people stopping over on cruise ships has also grown. Whereas some 525,000 people arrived on cruise ships in 2015, the number of passengers is expected to rise to 661,000 in 2016. this 26% increase results from ships with greater capa-city anchoring more often in Hamburg. the main beneficiaries of the tourist boom are retailers and restaurants/bars. a survey for 2014 conducted by the tourist board Hamburg tourismus GmbH revealed that over 32% (€4.07bn) of the gross tourist spend went to retail shops and some 24% (€2.78bn) to bars and restaurants.
overnight stays in millionsvisitor arrivals in millions
Source: Chamber of Commerce Hamburg, at 2015 | Q4
Source: Statistics office for Hamburg
Source: Statistics office for Hamburg
27.8
19.4
22.9 24.9
28.4
-1.3 -3.2
16.6
3.0 5.2
2011 2012 2013 2014 2015
the “alter Wall” project to redevelop the bank complex formerly occupied by the Vereins- und Westbank has generated consider-able interest. Scheduled for completion in 2018, this excellent location opposite Hamburg town Hall will offer around 10,000 m² of retail space. this project will help alter Wall, which was a bust-ling shopping street in the early 1900s, to regain former glory. the redevelopment project will place what has been a rather quiet location more prominently on the map of shopping in Hamburg. Here, in the heart of the inner city and embedded in the “Nikolai Quarter” Business improvement District, new connecting paths are to be created. a passage through the middle of the building complex and a pedestrian bridge over the alsterfleet canal will redefine connectivity. thus the project will create a new axis bet-ween mönckebergstrasse and Neuer Wall.
estimation of the current business situationestimation of the future business situation
unfa
vour
able
favo
urab
le
FActS AND FiguReSCommerce and tourism
14%
9%
9%
7%
6% 6% 5%
4%
40%
France
other countries
Denmark
Switzerland
austria
Netherlands
United Kingdom
Sweden
United States
www.grossmann-berger.de | page 6
BID Opern-boulevard
BID Passagenviertel
BID Hohe Bleichen
Heuberg
BID Neuer Wall
BID Quartier Gänsemarkt
BID Nikolai-Quartier
BID Mönckebergstraße
Jungfernstieg
Neu
er
Dam
mto
rstr
aße
EsplanadeGorch-Fock-Wall
Colonnaden
Colonnaden
Jung
fern
-
stie
g
Stadthausbrücke
Ballindam
m
Hermannstr.
Ferdin
andstraße
Raboisen
Rosen-
Gerhart-Hauptmann-
Platz
Meßberg
Burchard-platz
Deichtor-platz
Willy-Brandt-
Straße
AlterFisch-markt
Adolfs-platz
Rathaus-platz
Gänse-markt
Axel-Springer-
Platz
Stephans-platz
Alter
Wall
Wall
Neuer
ABC-
straße
Bleichen
Große
Hoh
e
Ble
iche
n
Kaiser-Wilhelm-Str.
Wexstraße
An der S
tadthausbr.
Adm
iralit
ätss
tr.
Valentinskamp
Caffam
acher-reihe
Neuer Wall
Rödi
ngsm
arkt
Rödi
ngsm
arkt
Steintordamm
Steintorw
all
Steintor-
wall
Ernst-
Holz-
damm
St. Georgstr.
St. Georgs KirchhofRautenberg
str.
Alstertwiete
Merck-Straße
Speersort
Gr. Reichenstr.
twiete
Brands-
Kl. Reichenstr.
Schopenstehl
Gr. Reichenstr.Neß
HopfenmarktGraskeller
Altenwallb
r.
Hahntrapp
Börsenbrücke
Adolphsbrücke
Bleichenbrücke
Poststraße
straße
Jungfernstieg
Post-
Kl. Theaterstr.
Kalk
hof
Gerhofstr.
Drehbahn
Dammtorwall
Welckerstr.
Büsch
stra
ße
Fehlandstr.
Große
Theaterstraße
Schleusenstr.
Große Bleichen
Amelungstr.
Heuberg
Neue
ABC
-Straße
Schauen-
Große Johannisstr.
GroßerBurstah
burger- straße
Pelz
er-
stra
ße
Ida-
Ehre
-Pla
tz
Burchardstr.Altstädter Straße
Kattrepel
Springeltw
iete
Kl. Rosenstr.
Mohlenhofstr.
Jakobi-kirchhof
Burchardstr.
Niedern-
Klingberg
Dep
enauKat
tr. B
r.
Buc
eriu
sstr
aße
Kleine Johannisstr.Gr. Bäckerstr.
Bro
dsch
rang
en
Tros
tbrü
cke
Neue B
urg
Kl. B
urstahH
olzbrücke
Hermannstr.
Reesendamm
Plan
Bergstraße
Bergstr.
Schm
iede-
straße
Rathaus- straße
Str.
Pumpenstraße
Burchard-
Joha
nnis
wal
l
Klo
ster
-
wal
l
Dom
str.
Willy-
KennedybrückeAn der A
lster
Kirchenallee
Lombardsbrücke
Brandt- Straße
Dom-
str.
Bugenhagenstraße
Steinstraße
Mönckebergstraße
Mönckebergstraße
straße
Spitalerstraße
Lilie
nstr
aße
Raboisen
Alstertor
Gertrudenstr.
Glockengießer-
wall
Glockengießer-
wall
Brands-
ende
Kurzee M
ührenLange M
ühren
Gertruden-
kirchhof
Georgs-platz
Willy-Brandt-Straße
Hopfensack
Dovenfleet
Jako
bikirchhof
Curiens
tr.
Dornbusch
Mönkedamm
Deichstr.
Ferd
inan
dstor
Ferd
inan
dsto
r
St. Georgs Kirchhof
Düst
ernstra
ße
Heiligengeistbr.
Ludwig-Erhard-Str.
Staatsoper
Justizbehörde
Finanzbehörde
Behörde für KulturSport u. Medien
Klinik ABC-Bogen
BSU
Behörde für Stadtentwicklung
und Umwelt
Oberfinanz-direktion
KlinikFleetinsel
Rathaus
ThaliaTheater
Ev.-Ref. Kirche
KunsthalleHamburg
OhnsorgTheater
Dreieinigkeits-kirche
Finanzamt
MoscheeK.D.
Brecht-Sch.
St.-Petri-Kirche
St.-Jacobi-Kirche
Finanzamt
Haupt-bahnhof
Polizei
Bezirksamt Mitte
Kunstverein
Markt-halle
Bücherhalle
Deichtorhallen
HSH-Nordbank
Handelskammer
Börse
HSBA
Polizei
Wallringtunnel
Wal
lrin
gtun
nel
Steintortunnel
StreitsFilmtheater
Schule
Handels-Schule
PassageKino
Binnenalster
Alster-
fleet
Kleine Alster
Bleichen-
fleet
DDeDeaapla
-
mt t MM
llalrllall
lal
richtor-htohtoeiiplatzatzatzplpl
Klo
ster
-K
lost
Klo
ster
-
wal
ll
MitteMM ttt eettM
ereinKuKuKuunstveunstve
kt-Marktktehallee
Wa
WWa
Business
Improvement District
Shopping mall
Public building
Green area
CommerCial | retailhAMbuRg 2015/2016
hAMbuRgeR cityBiD boundaries
in 2005 the City of Hamburg first launched a scheme for business improvement districts (BiDs), using them as a development tool for the city centre. the principle is to encourage the owners of real estate to collaborate and invest in their neighbourhood through schemes to improve and maintain public spaces, plus a variety of marketing initiatives. the first inner city BiD was the Neuer Wall neighbourhood. Since then numerous BiD projects have been launched in Hamburg City.
For more information see: www.hamburg.de/bid-projekte
1 biD Opernboulevard | since 2005
2 biD Quartier gänsemarkt | since 2015
3 biD hohe bleichen/heuberg | since 2009
4 biD Passagenviertel | since 2009
5 biD Neuer Wall | since 2005
6 biD Nikolai-Quartier | since 2014
7 biD Mönckebergstraße | planning stage
business improvement Districts.City centre of Hamburg
1
2
3
4
5
6
7
buSiNeSS iMPROveMeNt DiStRictSa model for the city centre of Hamburg
www.grossmann-berger.de | page 7
CommerCial | retailhAMbuRg 2015/2016
business improvement District (biD): BiDs are usually initiated in areas domi-
nated by retail within defined boundaries, where property owners undertake, on a
largely voluntary basis and for a specified period of time, measures to improve the
area and make it more attractive.
retail purchasing power / retail purchasing power index: Volume of retail
spending by the population of a region measured by domicile, i.e. general
purchasing power less spending for rent, mortgage payments, insurance, motor
vehicles, travel and services.
retail sales (PoS turnover) / retail sales index: the actual sales in local retail
shops measured at the point of sale (PoS).
retail centrality index: relation between retail turnover and retail purchasing
power (permits statements about the capability of local shops to attract shoppers
from other areas and so add their purchasing power to the purchasing power of
the local residents).
take-up of space: the total of all space let plus that sold to, or finished by or for an
owner-occupier during the period under review. the operative date for inclusion in
glOSSARyDefinitions for the retail trade
SKilleD cONSultANcyour recommendation is the letting of 700 shops in Hamburg
the statistics is the date on which the lease or purchase agreement was signed.
lease renewals are not counted as take-up.
attainable rent: the net rent that is sustainably attainable for the re-letting of
first-class sales floor in 1a locations (80-120 m²), based on the assessment of
current market developments.
Photo credits:Cover: Galerie lumas (Poststraße 37) © C. leuzinger, page 2: adenauer (Gerhofstr. 38) © C. leuzinger.
We draw your attention to the fact that all statements made here are non-binding. most of the information is based on third-party reports. the sole intention of this market survey is to provide general infomation for our clients.
Grossmann & Berger GmbH • Bleichenbrücke 9 (Bleichenhof) • D - 20354 Hamburg Phone: +49 (0)40 / 350 80 2 - 0 • Fax: +49 (0)40 / 350 80 2 - 36 Email: info@grossmann-berger.de • Internet: www.grossmann-berger.de managing directors: andreas rehberg, Holger michaelis, lars Seidel, axel Steinbrinker Chairman of the supervisory board: Dr. Jörg Wildgruber • Registered office Hamburg registered at Hamburg no. B 25866
Sven bechert | Head of retailPhone: +49 (0)40 / 350 80 2 - 50 | mobile: +49 (0)162 / 23 230 02email: s.bechert@grossmann-berger.de
Matthias Schücking | Property consultantPhone: +49 (0)40 / 350 80 2 - 457 | mobile: +49 (0)162 / 23 230 12email: m.schuecking@grossmann-berger.de
Jan Stieghahn | Property consultantPhone: +49 (0)40 / 350 80 2 - 611 | mobile: +49 (0)162 / 23 230 69email: j.stieghahn@grossmann-berger.de
What can we do for you?if you would like to know more about good locations in which to do good business, we look forward to talking to you in person.
Just call us.
From left to right | Jan Stieghahn, Sven Bechert, Sabine Peickert (assistant), matthias Schücking