ZURICH, February 12 /PRNewswire/ --
- Indication: The Retail Market Study and the figures of the Swiss Market Research can be downloaded free of charge as PDF under:
http://www.presseportal.ch/de/pm/100019131/?langid=2 -
Zurich is among the top three of the most expensive shopping streets in Europe, according to the new Retail Market Study 2010 of Location Group Zurich. Two years ago the top rent was at CHF 7,150, which rose to CHF 9,475. The purchasing power of the people in Zurich did not suffer during the crisis. Zurich has now surpassed London's New Bond Street (CHF 8,350) and Tokyo (CHF 8,450) and has taken fifth place after Fifth Avenue in New York (CHF 18,500), the Causeway Bay in Hong Kong (CHF 16,600), the Avenue des Champs Elysees in Paris CHF (11,000), and via Montenapoleone in Milan (CHF 9,650).
HIGH KEY MONEYS in Zurich
The level of the key moneys is a sign for the most successful shopping streets. Mostly retailers in the luxury sector as well as the successful fashion brands are shaping the price structure in Switzerland. The Swatch Group paid millions to secure a 600 square metres retail space at Bahnhofstrasse 31 for its brand Breguet. Hermes rented the boutique of the local retailer Meister Silber at Paradeplatz with 700 square metres, between fashion house Bon Genie - Grieder and the Hotel Savoy.
The 3 years old shopping centre Sihlcity is one of the big losers in the city of Zurich. The reasons are the position of the location in the south-west of Zurich, the unattractive tenant mix as well as the wrong architecture.
Geneva with record of new openings
There have never been so many debuts of top brands in the prime retail locations of Geneva in the history. The top rents at Rue du Rhone are CHF 7,400 per square metre. Beside Panerai and Graff Diamonds the jeweller Boucheron also has opened its first boutique in Switzerland. Audemars Piguet doubled its space at Place de la Fusterie. The French star shoe-designer Christian Louboutin launched his first Swiss boutique next to Jean-Paul Gaultier. Furthermore the following brands opened a new boutique in Geneva: Church's, Dior Horlogerie, Fendi, Hacket London, Herve Leger, Hublot, Lanvin, Paul & Joe, Tara Jarmon, Victorinox und Vilebrequin.
The interest of retailers in prime locations in Switzerland is unbroken high, which results in higher rents as well as key moneys. "We are always able to find new retail spaces, but the available spaces are very rare. The demand for rental and purchase properties in A1 locations exceeds the supply disproportionately throughout Switzerland", said Marc-Christian Riebe, CEO of Location Group.
Further information: Marc-Christian Riebe, CEO LOCATION GROUP - Usteristrasse 23 - CH-8001 Zurich T +41(0)44-225-95-00 F +41(0)44-225-95-01
mcr@location.ch http://www.location.chFurther information: Marc-Christian Riebe, CEO, LOCATION GROUP - Usteristrasse 23 - CH-8001 Zurich, T +41(0)44-225-95-00, F +41(0)44-225-95-01,
mcr@location.ch
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