Dutch retail premises in demand – in popular shopping areas
A number of Dutch shopping chains may be vanishing from the high street but property investors are putting billions of euros into retail real estate, according to new research by CBRE.
In 2015, investors put a record €2.8bn into Dutch retail premises, a rise of 87% year on year. The growth is set to continue in 2016, the Financieele Dagblad said.
CBRE said the investment in retail is not surprising given that consumer confidence has reached its highest point in eight years and consumer spending is also rising.
However, the investment is mainly focused on popular shopping streets in the larger cities. ‘Investors are not taking risks because of the bankruptcies,’ spokesman Krijn Taconis told the Financieele Dagblad.
‘An international retailer like Forever 21 is never going to rent an empty shop in a place like Etten-Leur. But in the big cities, the bankruptcies – like V&D for example – does open the way to attract new retailers and increase rents.’
Total investment in Dutch property reached €11.6bn last year, a rise of 10% on 2014.