Retail Market Report Austria | 2023/24

former O bag store and Biogena into the former Asics shop. Other interesting relocations include the MEI SHI Shop& East food store and the Ber- liner Babo streetfood chain. Another positive factor is the generally good per- formance of the rapidly expanding gastronomy and service sector. However, this growth has been unable to completely offset the weakness in key retail sectors, in particular fashion and shoes (minus 17 per cent of space in ten years). In contrast, upper storey space that has often become difficult to rent is gaining a new life as hotels (recently two floors in the former Peek & Cloppenburg, now Motel One) or offices. The

demand by potential tenants is good, and the square metre prices for upper storey space are moving towards the levels for retail rentals. Given the low vacancy rates, longer lease terms and lower default risks, this conversion is a reasonab- le and attractive alternative.

New lettings and concept adaptions* Mariahilfer Strasse 2022/23 (excerpt)

MUMOK

MuseumsQuartier

Meeting zone Pedestrian zone

Leopold Museum

LAMARR

Department store - opening 2025

1

Micronutrient products Supermarket Gastronomy Consumer electronics

2

*

3

Tech Village Media Markt

Berliner Babo

*

4

Gerngross

5

Billa Pflanzilla

Gastronomy

6

Biogena

*

Gastronomy

7

*

8

Book store

9

Furniture discounter Gastronomy

Cinna- mood

10

McDonald’s

Thalia

Mömax

Westbahnhof

MeiShi Shop&Eat

IKEA

17

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