The Netherlands Retail MarketView H2 2014 Influx of foreign … · MARKETVIEW 0% 10% 20% 30% 40%...
Transcript of The Netherlands Retail MarketView H2 2014 Influx of foreign … · MARKETVIEW 0% 10% 20% 30% 40%...
MARKETVIEW
Influx of foreign capital
boosts retail investment
The Netherlands Retail MarketView H2 2014
STALLED OCCUPIER DEMAND
FOCUS ON CITY CENTRES
H2 2014 CBRE Research © CBRE B.V.| 1
HEADLINES
• Occupier market not bottomed out yet • Investment volume boosted by foreign capital
• Discounters and luxury retailers expanding • Shopping centres most popular investment category
-15bp y-on-y
Chart 1: Consumer confidence
Source: Statistics Netherlands
Source: Oxford Economics
Chart 2: GDP growth
-14
-12
-10
-8
-6
-4
-2
0
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2014
Feb
2014
Mar
201
4
Apr 2
014
May
201
4
Jun
2014
Jul 2
014
Aug
2014
Sep
2014
Ocr 2
014
Nov 2
014
Dec 2
014
Jan
2014
-22% y-o-y +85% y-on-y
-2.0%
-1.5%
-1.0%
-0.5%
0.0%
0.5%
1.0%
1.5%
2.0%
2010
2011
2012
2013
2014
E
2015
E
2016
E
2017
E
2018
E
+3.8% y-o-y
MARKETVIEW NETHERLANDS RETAIL
0
100
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2010
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2012
2013
2014
x 100
0 sq
m
Source: CBRE, VTIS
Source: CBRE
DISCOUNT AND LUXURY GROWTH
Chart 3: Take-up in the Netherlands
Chart 4: Prime rents G4 cities
0
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1,000
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EUR
/ sq
m /
yr
Amsterdam Rotterdam
Utrecht The Hague
Source: CBRE
Chart 5: Investment volume & average transaction size
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0.5
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Mill
ion
EUR
Billi
on EU
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Investment volume (RHS) Average deal volume (LHS)
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0%
10%
20%
30%
40%
50%
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70%
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2010
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Domestic Cross border
NETHERLANDS RETAIL
Chart 7: Investments by origin
Chart 6: Investments divided by asset type in € billions
Source: CBRE
Source: CBRE
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0.5
1.0
1.5
2.0
2.5
2010
2011
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Billi
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R
Shopping centre High-street Other
Retail warehousing Supermarket Factory outlet centre
STRONG INVESTMENT GROWTH
Chart 8: Prime net yields
Source: CBRE
3%
4%
5%
6%
7%
8%
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
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2013
Q1
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Q2
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Q3
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Q4
2014
Q1
2014
Q2
2014
Q3
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Q4
High-streetShopping centreRetail warehousing
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MARKETVIEW NETHERLANDS RETAIL
Table 1: Largest Investment transactions 2014
Source: CBRE
Location Building/project Type Purchaser Price in € m
Size (sq m)
Nationwide CBRE Global Investors portfolio Shopping centres Multi/Blackstone N/A 107,500 sq m
Nation wide Corio portfolio Shopping centres Mount Kellett/Sectie 5 176.0 120,800 sq m
Hoofddorp Vier Meren + V&D Shopping centre Wereldhave 138.9 30,100 sq m
Amsterdam Kalvertoren Shopping centre Kroonenberg Groep 117.6 11,500 sq m
Lelystad Batavia Stad Fashion outlet centre Meyer Bergman 115.0 26,300 sq m
Capelle aan den IJssel De Koperwiek Shopping centre Wereldhave 60.1 16,000 sq m
Nation wide Pinnacle portfolio Retail warehouses Europa Capital Partners 49.2 5 units
Leidschendam V&D Leidsenhage Shopping centre Unibail-Rodamco 40.6 11,450 sq m
Nationwide High-street portfolio High-Street Vastned 39.0 7 units
Haarlem Brinkman passage Shopping centre FGH Bank 29.0 10,312 sq m
H2 2014 CBRE Research © CBRE B.V.| 4
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Disclaimer: Information contained herein, including projections, 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 confirm independently its accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE.
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