Global Retail City Profiles Germany
Munich
Munich is Germany’s third largest city and an important financial and publishing hub. The Bavarian state capital is the top retail location in Germany. Retail spend per capita in Munich is among the highest in Europe and a strong tourist market helps to keep the local economy buoyant. Demand from retailers is high for units in good locations and as a result the city ranks as the eighth most attractive location for international retailers in Europe. Germany’s highest retail rents are achieved in Munich’s inner city area.
High street Kaufingerstrasse, Neuhauser Strasse and the area around Marien- platz are the prime high street locations with the highest footfall. Retailers rarely vacate their premises on these streets, offering limit- ed possibilities to open up new stores. New developments provide the best opportunities to acquire retail space, such as on Neuhauser Strasse where the historical building “Alte Akademie” is planned to be reconstructed. The mixed-used project will incorporate offices, retail space as well as apartments. The building measures will start in 2019. Maximilianstrasse is home to most luxury retailers in the city. However, due to a severe shortage of supply, upmarket areas like Theatinerstrasse, Weinstrasse, Residenzstrasse and Dienerstrasse are experiencing an increase in demand for space. Sendlinger Straße is also in high demand; the inner city location has become a pedestri- an zone in 2017.
Shopping centers Fünf Höfe and Maximilianhöfe are the best performing schemes in Munich’s inner city area. Fünf Höfe has an attractive retail offer including Max Mara, GUESS, Ba&sh and Camper. Maximilianhöfe is distinguished by its attractive luxury retail offer including Dolce & Gabbana, Moncler, Versace and Bally. Olympia and PEP Perlach are Munich’s largest schemes, both located outside the city center. The first Primark store was opened in May 2018 with around 64,600 sqft retail space in the extension of PEP Perlach. HOFSTATT, opened in 2013, is Munich’s latest scheme, offering 166,800 sqft of retail space. Retailers include Gant, Hollister Co., adidas, Abercrombie & Fitch and Brandy & Melville.
Shopping center Olympia EKZ
PEP Perlach Riem-Arcaden Pasing-Arcaden Fünf Höfe
Mira (Nordheide) HOFSTATT
Stachus Passagen Source: JLL 2018
Opening year 1972
1981 2004 2013 2001 2008 2013 1970
Size (sqft) 645,800
570,500 538,200 488,200 215,300 204,500 193,800 129,200
Location
Out of Town Edge of Town Edge of Town Out of Town City Center
Edge of Town City Center City Center
Population 1.4m
Prime rent (sqft per year)
US $460
Prime rental information for Kaufingerstrasse and Neuhauser Strasse
Key indicators Population (‘000s No.)
GDP per Capita (US$, Real, PPP) GDP Forecast 2018-2022 (% pa)
Retail Sales Forecast 2018-2022 (% pa) Global CBRA Rank (Out of 140 cities)
Source: JLL, Oxford Economics (May 2018) Global CBRA Rank = Global Cross Border Retailer Attractiveness Rank
Rental growth outlook
1,464
65,083 2.6 1.9
33rd
Key retail entrants
H&M Home Hugo Boss Sois Blessed
Key tenants
C&A, Galeria Kaufhof, Zara, H&M, Karstadt, Apple C&A, H&M, Kaufland, Saturn, P & C, Primark, Camp David Edeka, H&M, Saturn, C&A, Zara, Superdry, Runner’s Point Intersport, Aldi, H&M, Müller, Tommy Hilfiger, C&A Emporio Armani, Longchamp, Patrizia Pepe, Max Mara Woolworth, H&M, C&A, Expert, Rewe, New Yorker adidas, Abercrombie & Fitch, Gant, Brandy & Melville Hallhuber, DECATHLON, Edeka, Butler’s, Starbucks
Copyright (c) JLL IP, INC 2018
Iqos (Philip Morris) Görtz Berluti
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