Tag: shopping

Portal de L’Àngel Ratifies is Position as Spain’s Most Expensive Street

14 November 2018 – Eje Prime

Portal de l’Àngel has reaffirmed its position as Spain’s most expensive street in Spain for opening a commercial premise. The busy Barcelona thoroughfare charges an average rent of €3,360/m2 per year, according to the report Main streets across the world 2018, compiled by Cushman&Wakefield. The amount this year has not varied with respect to the previous year.

Meanwhile, Madrid’s Calle Preciados continues in second place in the ranking, with an average rent of €3,240/m2 per year, which represents a 2% increase with respect to prices last year.

Across Europe as a whole, Portal de l’Àngel occupies the 18th position in the ranking of prime high streets in the region, whilst Calle Preciados is positioned at number twenty. In terms of the main commercial thoroughfares around the world, Barcelona’s prime street is placed at number 67 and Madrid’s at number 71.

In the global ranking for 2018, Causeway Bay, in Hong Kong knocked off Fifth Avenue in New York from the top of the podium, with a rental price of €24,606/m2 per year. Retail rents on the New York prime street amount to €20,733/m2 per year. In third place is New Bond Street in London with an average price of €16,071/m2 per year.

Original story: Eje Prime 

Translation: Carmel Drake

Luxury Brands Compete For Space On Spain’s Golden Miles

19 November 2015 – Expansión

The war between the major brands for shops on the golden miles of Madrid and Barcelona is intensifying and it is becoming increasingly difficult to secure premises on these streets, where rents cost more than €230/m2/month.

Calle Serrano and Paseo de Gràcia have become the exclusive territory of the large fashion houses. In recent years, big names in fashion, accessories and jewellery have been taking over the best premises on the golden miles of Madrid and Barcelona and in 2015, boosted by the economic recovery, they have completely taken over these shopping streets, where average rents now cost €230/m2/month.

This year, more than half of the operations recorded in the commercial districts of Madrid and Barcelona have involved fashion houses and jewellery firms. Eleven operations have been completed on Madrid’s golden mile, compared with fifteen in Barcelona, which has welcomed 12 new brands to the city, according to the latest report by Ascana.

Polarisation

“Desirable streets are getting increasingly better, whilst the worst streets are still suffering from the crisis”, says the founding partner of Ascana, Eduardo Rivero. The growth in tourism and the beginning of the recovery for local consumers has spurred on the large brands to position themselves in the best locations.

According to Rivero, the arrival of Prada, Louis Vuitton and Versace, and the expansion of Gucci, on Calle Serrano, is enticing the other luxury brands to follow suit. “We are talking about more affordable luxury” says the consultant – “the high-end luxury firms, such as Chanel and Hermés, are staying put on Calle Ortega y Gasset”.

Increasingly, the Paseo de Grácia is being split into three sections: luxury brands at the top (of the street), mid-range brands in the middle section and more affordable brands at the bottom end (closest to Plaza Cataluña).

Original story: Expansión (by Marisa Anglés)

Translation: Carmel Drake