Shopping Streets Vienna
Vienna | Mariahilfer Strasse
New lettings Mariahilfer Strasse 2021/22 (excerpt)
MUMOK
MuseumsQuartier
Meeting zone Pedestrian zone
Leopold Museum
Mahü 10 –18
1
Cosmetics
Luggage
2
Aesop
Samsonite
3
Optics
Mister Spex
Gerngross
4
Fashion
Kult
5
Confectionery
6
Optics
Lindt
7
Off-Price-Retailer
Half Price
Westbahnhof
IKEA
Austria’s premiere shopping street, the Mariahil- fer Strasse between the Inner City and the West Railway Station, is currently in the midst of an accelerated structural transformation. At roughly 15%, the turnover rate lies at the upper end of the range and is clearly above the average for Austria’s major shopping locations. The share of fashion and clothing retailers is declining (for example, the Benetton flagship store recently closed, and Peek & Cloppenburg reduced its rented space from six to five floors), while gas- tronomy is becoming more important. In addition, the construction of the “MaHü 10-18” project at up to EUR 400 million on the site of the former Leiner furniture store will fundamentally change the character of the section close to the city centre. A positive factor here is the substantial investment in the improvement of space.
In spite of all this restructuring, the vacancy rate is very low. Standort + Markt recently registered 3.2%, one of the best levels among the leading shopping areas in Austria. The massive “MaHü 10-18” project and the construction site for the future U3/U2 hub in the Neubaugasse are currently a source of obstacles for passers-by but will significantly increase the attractiveness of the Mariahilfer Strasse over the mid-term. Improved accessibility via public trans- portation, in particular, has become an increasingly important issue as the result of municipal actions to reduce motor vehicle traffic (meeting areas, extension of parking permit zones). Rents are declining slightly in line with the general market trend. In mid-2022, prime rents equalled EUR 130 to 160 per square metre.
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