2022-11-02-莱坊-Spain_Retail_Snapshot_Q3_2022_September_2022_2页_749kb

Retail Snapshot Summary - Q3 2022

Core Content Overview

This document presents a snapshot of the retail market in Spain for Q3 2022, highlighting new retail openings, investment trends, and key market data. It also includes insights on consumer behavior and market conditions influenced by the ongoing effects of the COVID-19 pandemic.

New Retail Openings

The following are notable new retail openings in Spain during Q3 2022:

• MADRID

  • VICIO at Carretas 9 with an area of 550 sq m
  • NOON at Ayala 26 with an area of 450 sq m
  • CHICO CASTIZO & CHINGON at Santa Engracia 54 with an area of 220 sq m

• BARCELONA

  • FLORENCIA at LAS RAMBLAS 140 with an area of 1,200 sq m
  • POLESTAR at P° de Gracia 84 with an area of 200 sq m
  • AWWG at P° de Gracia 67 with an area of 169 sq m

Market Situation in Spain

• Social Security Affiliates: The number of people affiliated with Social Security reached 20 million in September 2022, a 3% increase compared to September 2021.
• Household Consumption: Expected to reach €80 billion in 2022, slightly lower than 2021 but still above pre-pandemic levels, with a 5% increase compared to 2019.
• International Tourism: The number of international tourists for the first eight months of 2022 reached over 48 million, a more than 200% increase compared to 2020 and 2021.
• Average Spending per Person: Increased to €1,276 in August 2022, representing a 12% rise compared to the same month in 2021.

Retail Investment Trends

• Q3 2022 Investment Volume: Reached €520 million, with a cumulative investment for the year exceeding €3.3 billion.
• Portfolio Purchase: A significant €300 million purchase of a portfolio of branches occurred in Q3, accounting for nearly 60% of the quarter's investment.
• Investment Distribution:
  • Shopping Centers accounted for over 40% of the investment.
  • Retail transactions accounted for nearly 30% of the total investment.
• Excluding Portfolio Purchase: The accumulated investment volume was 30% higher than in the same period of 2021, totaling €1,050 million.
• Prime Yield Stability: Prime yields remained stable in the second quarter of the year.

Top 3 Deals in Q3 2022

1. 380 Branches Portfolio

   • Vendor: AXA IM
   • Purchaser: Santander
   • Value: €300 million
   • Source: BrainsRe

2. Parque Mediterráneo (Cartagena)

   • Vendor: Confidencial
   • Purchaser: Frey Invest
   • Value: €83 million
   • Area: 66,000 sq m
   • Source: Idealistannews

3. 14 Branches Portfolio

   • Vendor: Confidencial
   • Purchaser: IBI Lion
   • Value: €33 million
   • Source: El Inmobiliario Mes a Mes

Prime Yields Comparison

*Q1 2022 data

Additional Notes

• The report acknowledges the impact of the COVID-19 pandemic on market activity across Europe, emphasizing the uncertainty and the need for updated insights.
• The document is authored by Knight Frank Research, with contributions from Elaine Beachill (Director of BTR, Retail & Hospitality) and Rosa Uriol (Head of Research).
• Recent Publications include:
  • Retail Property Outlook. 2022
  • Retail Parks. 2021
• Reports are available at:
  • Spanish: knightfrank.es/investigacion-de-mercados
  • English: knightfrank.com/research

Disclaimer

This report is for general information only and should not be relied upon. Knight Frank España, S.A.U. does not accept any responsibility or liability for any loss or damage resulting from its use. Reproduction of this report is not permitted without prior written approval.