Market share of shopping centres and retail parks
Vienna 25.7%
Lower Austria 23.1%
Upper Austria
19.2%
Vorarlberg 18.6%
Burgenland 42.5%
Styria
Salzburg
22.6%
Tyrol
22.3%
27.6%
Carinthia
20.7%
Source :
| Q1 2018
Shopping centres and retail parks
gastro share in Austrian shopping centres is still clearly below 25 per cent, which represents the new medium- term international standard. Innovative recreational activities like surfing facilities or beach volleyball courts are also joining the offers. The tenant mix is becoming more flexible and, in addition to high-frequency anchor tenants, popup stores help to increase visitor frequency and revenues and diversify the shopping experience. Retail parks are also seeing a greater focus on quality improvements instead of expansion and new construction. Only two projects are expected to be completed in 2018: the Braunsberger retail park in St. Pölten and the Siegendorf retail park.
The increase in shopping centre space has practically come to a standstill. Only two new projects were completed in Vienna during 2017: the successful expansion of the “huma eleven“ by 20,000 sqm and the new opening of the approx. 5,500 sqm “Post am Rochus“ which opened with slight start-up problems. No larger projects or expansions are planned for 2018, with the exception of the next Auhof Center expansion. Instead of further expansion, the top shopping centres – including Vienna’s four largest: the SCS, Donauzentrum, Auhof Center and huma eleven – are currently working on new concepts to counter the frequent decline in visitors. The shopping temple is increasingly becoming a recreational hot spot where people like to spend time with family and friends. One consequence of this trend is a further increase in the gastronomy offering. The
Rents shopping centres and retail parks | Q1 2018
Net rents EUR/sqm/m
Price trend
Prime location
40 - 120
stable
Development of shopping centre prime rents (EUR/sqm)
SCS, Donauzentrum, Auhof Center etc. Secondary location Q 19, Lugner City, BahnhofCity Vienna West District centres
15 - 50
stable
stable
6 - 12 slightly decreasing
Retail parks Vienna
Out look
8 - 12
stable
Federal provinces
5 - 11 slightly decreasing
| 17 | 18*
11 | 12 | 13 | 14 | 15 | 16
Source: EHL Market Research | Q1 2018
* Forecast
Source: EHL Market Research | Q1 2018
11
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