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18 September 2017 PRADERA CONTINUES GROWTH WITH OPENING OF FIRST GERMAN OFFICE Pradera, the specialist international retail real estate fund and asset manager, today announced the opening of its first German office as the company continues its successful growth through expansion across Europe and into Asia. 8 August 2017 Online giant blending offline and online grocery and it's not Amazon Alibaba Group Holding Ltd. has stepped up its efforts to combine physical retail with online in the supermarket space. The Chinese e-commerce behemoth has opened three new membership supermarkets, under the Hema banner, in Beijing and Shanghai, that seamlessly blend offline features with physical retail. 8 August 2017 Rebound in UK investments Europe posted a strong second quarter with over €74bn in investments. This brings the total for H1 2017 to €130bn, which represents an increase of 13% compared to the same period in 2016.

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London
Pradera Limited
Eldon House
2-3 Eldon Street
London EC2M 7LS
England
Tel: +44 20 7539 5432
Fax: +44 20 7504 8425
Madrid
Pradera Management Spain S.L.
C/ Jose Ortega y Gasset, 20 7a
28006 Madrid
Spain
Tel: +34 91 512 0224
Fax: +34 91 512 0280
Milan
Pradera Management Italy S.r.l.
Piazza Cavour 2
20121 Milano
Italy
Tel: +39 02 3657 8400
Fax: +39 02 3657 8438
Istanbul
Pradera Garimenkul Yönetimi Ve Ticaret Limited Sikreti
Meydan Sokak Mermerciler Sitesi
Edin Suner Plaza A, Blok 6A
Akatlar, BeÅŸiktaÅŸ
Istanbul
Turkey
Tel: +90 212 350 90 71
Fax: +90 212 351 40 49
Prague
Pradera Management Czech Republic
Senovazne namesti 8
110 00 PRAGUE 1
Czech Republic
Tel: +420 224 423 331
Fax: +420 224 423 333
Warsaw
Pradera Management Poland
sp. z o.o.
Złote Tarasy Skylight, 5th floor
ul. Złota 59
00-120 Warsaw
Poland
Tel: +48 22 222 15 15
Fax: +48 22 222 15 22
Munich
Pradera Management Germany GmbH
c/o Mindspace, Viktualienmarkt 8
D-80331 Munich
Germany
Hong Kong
Pradera Hong Kong Limited 1202
Ruttonjee House
11 Duddell Street
Central
Hong Kong
Tel: +852 3107 3820
Shanghai
Pradera Retail Asia
Level 5
Unit 502
No. 353 Nanjing East Road
Huangpu District
Shanghai 200001
China
Tel: +86 21 6029 3599
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EMEA PROPERTY MARKET OUTLOOK 2015

The Eurozone economies continued their slow, some would say painfully slow, economy recovery in 2014 and look set to continue to do so in 2015.  The big development in 2014 was the role reversal of the core and peripheral countries.  In 2014, many of the geographically peripheral Eurozone countries started to show concrete signs of economic recovery, notably in Spain and Ireland.  Even Greece managed to post economic growth for the first time in seven years.  By contrast, the core countries of Germany, France and Italy disappointed.  Outside of the Eurozone, the UK, Sweden and most of Central Europe posted solid growth while the Russian economy slowed precipitously under pressure from sanctions and falling oil prices, with the latter doing by far the most damage.

 

The major changes in the commercial real estate capital market during 2014 were principally driven by a greater willingness to take risk by both investors and lenders.  Although this was starting to happen towards the end of 2013, there was a much more substantial change in 2014 which set the trend for the year.  This was reflected in:

  • The surge in investment activity in Spain and Ireland and in second and third tier towns in UK and Germany which has taken CRE investment activity to over €200 billion;
  • The sharp fall in yields in these markets;
  • The increase in the availability (and fall in the cost) of debt, both generally and more specifically for investors buying in more secondary markets; and
  • The sharp rise in loan sale transactions – from around €20 billion in 2013 to over €50 billion in 2014.

Consumer sentiment showed great improvement over the course of 2014 and trading conditions and occupier demand have also improved.  However retail sales again presented a varied picture across Europe in 2014 with some markets still facing challenging conditions.  The most buoyant sale growth has bene in Romania, Hungary and the Czech Republic in central Europe and in the UK, Ireland and Sweden in the west, although the “Black Friday” phenomenon may have flattered year-on-year comparisons in some cases.  In contrast, a number of countries have seen sub-1% growth and volumes are actually down in Austria and Finland.

 

The outlook for 2015 is expected to show a strengthening in retail sales growth across most markets.  Southern Europe will continue to see growth in sales, in particular in Greece, but Italy’s performance will be subdued.  The UK and Slovakia, Romania, Turkey, Hungary and Ireland are expected to continue to see robust growth in 2015 and Russia is the only market expected to see a significant fall in sales volumes in 2015.

 

Retailers continue to seek out new locations although are increasingly selective about their requirements, as many are trying to navigate and expand their multichannel platforms.  Investment in technology is becoming increasingly important for many retailers as competition, on both a physical and virtual sales front, stiffens.  Although investment into online platforms remains a focus, investment in new store openings and in existing stores is also a priority for many retailers.  Cross- border expansion will continue at a steady pace.

 

Shopping centre development activity in Europe are following the same geographical pattern as last year, with new construction dominated by emerging markets – Russia and Turkey.  In Turkey the majority of development, certainly the larger schemes, is taking place in the major cities such as Istanbul with smaller scheme development taking place in the outer regions such as Izmir.  The scale of new development is largely due to economic growth in the region, a growing middle class and the increasing demands of cross-border retailers, many of whom have found that the existing retail space in the region does not meet their requirements.  In terms of Western Europe there is very little new space due to enter the market in 2015, the majority of development that is taking place is in Germany and France, elsewhere there is a trend towards refurbishing existing assets to try and refresh schemes.

 

The major development in the UK has been the teetering of the big supermarket chains under challenge from a combination of low cost, aspirational and convenience competition.   This has resulted in a price war and the recent announcement that once-dominant Tesco are to close over 40 stores and shelve the development of a further 49, mostly large out-of-town, stores.  While the Tesco announcement has been well received by the stock market we can expect further changes to the UK food retailing landscape over the coming year.

 

Source: EMEA Property market Outlook 2015, January 2015

Retail News

Online giant blending offline and online grocery and it's not Amazon

Alibaba Group Holding Ltd. has stepped up its efforts to combine physical retail with online in the supermarket space. The Chinese e-commerce behemoth has opened three new membership supermarkets, under the Hema banner, in Beijing and Shanghai, that seamlessly blend offline features with physical retail.

Read whole story

Rebound in UK investments

Europe posted a strong second quarter with over €74bn in investments. This brings the total for H1 2017 to €130bn, which represents an increase of 13% compared to the same period in 2016.

Read whole story

Sustained strong investment momentum in Germany

The German Commercial property investment market set another record in the first half of 2017 with an investment volume of €25.8 bn, which represents an increase of 45% compared to the year-earlier period.

Read whole story

Growth in Continental Europe remains robust in Q1 2017

Europe commercial real estate investment totalled €56.1bn in Q1 2017 according to CBRE. Trading activity in continental Europe increased despite elections in several notable markets.

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Retail park vacancy rates hit record low in the UK

Vacancy rates in the retail warehouse market have fallen to their lowest level in more than 15 years. Research by Trevor Wood Associates said vacancy rates have fallen to 5.3%, down from 5.9% last year and well below the peak figure of 11.8% recorded in 2009.

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Globalisation is alive and well in the real estate sector

Cushman & Wakefield’s 2017 Atlas Summary report tells the investment stories that are driving the market ahead. Despite political uncertainty, rising populism and the threat of protectionism, cross border real estate investment interest remains high and capital continues to flow in and around all areas of the world.

Read whole story

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Background Photo:
Ragusa: Ibleo Shopping Centre