Retail Real Estate: the prestigious high streets of Milan. Why should I invest?

Second youth for Italian real estate which, after the found faith of consumers and a gradual and global economic recovery, lives nowadays a particularly positive period. We assist to a progressive increase of proprieties request from international authoritative brands, which are looking for spaces in the streets of luxury and we catch an always stronger desire to embrace the “Made in Italy” system.

Fashion, in fact, is one of the symbol of Italian excellence and it represents a huge recall for foreign tourism; strategic position and architectural beauty of high streets, with their high popularity, increases the value of properties situated in amazing fashion streets and the demand of investors, who want to start their business in these already existing retail spaces.

Milan, the most attractive, requested and prestigious city among the high streets, remains prime location, thanks to its excellence, and it is the center point of retail activity, with a constant growth of interest, a tourist flow always more highlighted and with a high buying power.

Every shopping street has a clear and recognizable identity; there are some streets in which lots of shops, in franchising or of clothing “low budget”, are presented, and those of luxury where authoritative brands commend their shop windows; clothing and footwear/leather goods are the most diffused goods categories. The most requested lengths in retail are between 70 and 800 sqm, on the other hand the yields are among the 4% and 6% and the middle time of vacancy is among 0 and 8 months.

It is still Via Montenapoleone, the 5th Milanese Avenue, the most expensive and prestigious high street, with values ranging from 4,700 to 8,000 €/sqm/annual. It records with 84 shops a vacancy time among 0 and 6 months and a vacancy’s rate of 11%. The major number of brands presented is connected to the good category of clothing (44%), following by footwear/leather goods (21%), accessories/jewelry (12%) and watchmaking (11%).
Then, Via Della Spiga with rents among 6,000 and 3,700 €/sqm/annual, has a vacancy time among 0 and 3 months and vacancy’s rate of 10%. Good categories more diffused among the 80 existing brands are again clothing (56%), near footwear/leather goods (23%) and accessories/jewelry (15%).

Via Montenapoleone and Via Della Spiga, together to Via Manzoni and Via Sant’Andrea, make the well-known as “Quadrilatero della Moda” (“Quadrilateral of Fashion” or Garment District), the prestigious rectangle of streets really near to inner city, which is characterized by the succession of all the most important brands of global high fashion.

The third and most authoritative Milanese high street is Corso Vittorio Emanuele, which links Duomo and San Babila, with values among 3,000 and 5,500 €/sqm/annual, vacancy time of 0 – the lowest among the streets – and vacancy’s rate of 7%. Here, there are 56 shops of clothing (55%); footwear/leather goods and underwear represent the 11%.

The three most expensive shopping streets are following by Via Dante (1,300-3,500 €/sqm/annual), Via Manzoni (1,400-2,000 €/sqm/annual) and Via Torino (1,000-2,800 €/sqm/annual), all situated in the city heart of Milan.

Via Dante, with 68 sale points, records a vacancy time among 0 and 5 months and a vacancy’s rate of 9%, whereas Via Torino with 112 shops among 0 and 3 months and 14%. For both of them the major number of brands presented is connected to category of clothing (32%); good percentage also for footwear/leather goods, perfumery/cosmetics and food service.

To close the classification of Milanese prime street, Corso Buenos Aires (600 – 2.000 €/sqm/annual) and Corso Vercelli  (600 – 1.500 €/sqm/annual). Corso Buenos Aires, important commercial street, covers 1,600 mt from Piazzale Loreto to Porta Venezia and it is among the longest promenades of Europe, highlights a vacancy time among 0 and 6 months and the highest vacancy’s rate among the high street with a 35%.

With more than 270 sale points, 29% of them of clothing, the 16% footwear/leather goods and the 12% food service, it counts an average flow of 100,000 people a day and a total turnover among the highest worldwide; Corso Vercelli, whereas, with 108 brands, records a vacancy time among 2 and 6 months and a vacancy’s rate of 14%; clothing is on top with 29%.

World Capital Real Estate

Lascia un Commento

Il tuo indirizzo email non sarà pubblicato. I campi obbligatori sono contrassegnati *