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Retailers target Germany for expansion


Retailers are targeting Germany as a destination for expansion in the year ahead, according to commercial property and real estate adviser CB Richard Ellis (CBRE).

A report by the firm entitled How Active are Retailers in EMEA? found that 41 per cent of retail brands are looking to open up stores in the country in 2011.

The study also indicated that Poland and France are high up on the list of territories being targeted by retailers in the coming months.

These findings and more were announced at last week’s Mapic 2010, a retail and real estate event held in Cannes, France.

Delegate numbers and keynote speeches at the gathering showed that confidence in the EMEA property market is well and truly returning after a sluggish period of growth.

Peter Gold, Head of EMEA Cross Border Retail at CBRE, said: “Retailer sentiment has risen markedly since its low point last year.

“It is clear that more retailers are confident enough to accelerate their expansion.”

However this may not be the case across the UK, as CBRE’s Head of Retail Consultancy Jon De Mello explained to Retail Gazette earlier this month.

“The window is closing for retailers to aggressively expand, it is still a retailer’s market but it will become more of a landlord’s market in the next few years,” he remarked.

European growth is certainly on the cards for a number of UK retailers though.

Mapic was used as a platform for a number of retailers to reveal their plans for the future, and Primark’s Director of Property Thomas Meager backed up CBRE’s claims by saying there are “huge opportunities” to be taken in Germany.

Meanwhile, Tesco Poland and Echo Investment decided to use the event to announce that they have signed retail space lease agreements for Tesco to open in Galeria Olimpia in Belchatow and Galeria Veneda in Lomza.

Published on Wednesday 24 November by Editorial Assistant

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