MIPIM 2019 (24.1 MB)

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About Stefan Goigitzer is one of Coore’s managing partners and is responsible for retail and retail investment. He is a qualified real estate fiduciary and has been in the industry for 25 years. Active management is the order of the day Comment: Stefan Goigitzer n Although stationary retailing was able to record an increase in 2018, above all thanks to significant growth in the DIY/home improvement supplies and sporting goods sectors, the growth rates of 2017 could not be achieved. Both the textile trade and the leather and footwear sectors suffered a considerable decline. This deficit is not surprising, since these two segments are in strong competition with online trade. Expectations are that the stationary textile trade will continue to come under pressure, notwithstanding this segment's efforts of streamlining concepts and increasing efficiency. The merging of online and stationary trading is still on the rise, multichannel being the word de jour. But what does that mean for the retail sector and the high streets in the federal capital? In the last 10 years, rents have risen steadily, particularly in Vienna. The increases reached levels that required peak sales in order to afford these rents. This development seems to have ground to a halt for the time being. Does this mean the end for our beloved shopping streets in the long run? Certainly not! But we are noticing that, in many cases, retailer are struggling to pay the (too) high rents. Tenants are therefore no longer willing to make long-term commitments – something that other sectors have experienced for a long time already. In future, retail leases will become shortterm, more flexible and sales-dependent. The active management of retail spaces is the order of the day. Large shopping centres find it easier to adapt to new circumstances and to respond accordingly due to their active space management, however, they do not have the natural footfall of an inner-city high street. But why shouldn't real estate owners on a shopping street hand over their retail space to an operator who looks after advertising, marketing and an attractive tenant mix that guarantees the sustainable stability of the street? Such a concept would benefit mainly smaller shopping streets. The major shopping streets in Vienna's Inner City – Graben, Kärntner Straße and Kohlmarkt - on the other hand, greatly benefit from tourists. It is, however, worth noting that even here rents can no longer be achieved easily and smaller-scale concepts are on the rise. No question: retail is changing. But was this not always the case? A look back proves that this is not a new development. From the small grocery store to the supermarket, from the tailor around the corner to the multinational textile chain. Retail has always adapted and will continue to do so. Despite online trading: Our shopping streets will continue to be heavily frequented, will generate good sales and will not deteriorate into outsized packing stations. 44 ImmoFokus
More competence. More determination. Your success. Dr. Anton Bondi de Antoni OUR SERVICES RANGE COMPRISES ALL SERVICES CONNECTED TO REAL ESTATE: • Land acquisition, determination of needs and process organization as well as planning • Construction and turnkey delivery of properties • Project management and controlling • Due dilingence on properties or portfolios on behalf of investors • Structuring, coordination and negotiation of acquisition and Winter 2018 45 sale of real estate WWW.BONDICONSULT.COM
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