demonstrated by the square metre turnover in retail parks which, in contrast to the turnover from rentals in the fashion and shoe business with their predominance in shopping centres and high street proper- ties, have seen no significant decline in space productivity.
years. The seller side includes a wide range of groups from funds to private investors and developers. After the long standstill in transactions, they are benefitting by the growing interest of investors for their retail park sale plans. The buyers include private investors, special funds and, in part, also
which come onto the market.
The situation in traditional shopping streets like the Mariahilferstrasse, Favoritenstrasse or Landstrasse is completely different. It remains very challenging due to the noticeable trend in both rents and average shop layouts. These developments can be seen as a cost-side reaction by retailers to the decline in space productivity. Special situations have depressed not only retailers’ turnover but also the general sentiment: One evident example is the Mariahilfer Strasse in Vienna, which is confronted with ongoing underground hub construction as well as the change in development plans for the Lamarr shopping mall to cancel or reduce the available retail space.
In addition, retail parks also offer comparatively attracti- ve returns with prime yields of 5.75 per cent and average yields between 6 and 7 per cent for good, functioning centres. The continuing harmonisati- on of the tenant structure in centres and the high percen-
There has not been a sing- le transaction for a large, cross-regional shopping centre in Austria since the end of the last decade.
developers who see a potential in refurbis- hing
outdated centres.
tage of retailers in nearly all functioning centres is leading to a steady increase in the standardisation of retail parks as an investment product. The long phase of restraint has been followed by a number of property owners who have decided to test the market and put their properties up for sale. This offering has been met with a corresponding demand, given the fact that there have been few good and relatively risk-averse purchase options on the market for several
The high street property segment has become increasingly fragmented. The top locations in Vienna’s Golden U, Salzburg’s Getreidegasse and the Grazer Herrengasse are still sought after by both tenants and investors. There are virtually no price declines here and, in contrast, further rental increases can be found. With regard to yields, the changes in the interest landscape have left little to hardly any traces. This situation is also not expected to change because of the very limited number of properties in these locations
Reference projects: Investment
Franz-Jonas-Platz
FMZ Kapfenberg
This fully rented office and commercial building directly at the Floridsdorf railway station on Franz Jonas Platz 2-3 in Vienna’s 21st district was brokered by EHL to a private investor.
The Kapfenberg retail park with over 14,000 sqm of rentable space was brokered to the Saller Group from Weimar, Germany, which completed its entry into the Austrian market with this transaction.
Total Space Customer
11,035 sqm S Immo AG.
Total Space Customer
14,000 sqm
LLB Immo KAG
Austria | 2025/26
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