Retail Report Hamburg - 11.01.10 - Finale Version - Englisch

Transcription

CB RICHARD ELLIS
SpecialReport
Report
Special
Einzelhandelsreport
Hamburg
Residential
Market Germany
www.cbre.de
November 2009
Retail Report Hamburg
Philipp Hass, Head of Retail Agency North, Hamburg
Jens Wehmhöner, Retail Agency North, Hamburg
Sven Buchsteiner, Retail Consulting and Research, Frankfurt
Quelle: Foto: www.mediaserver.hamburg.de/C.Spahrbier
Introduction
A safe haven in uncertain times – this is how Hamburg’s retail real estate market presents itself in the course of
the year of crisis, whilst it yet again shows its strengths as Germany’s second largest city. The diversified economical structure of wholesale and retail, logistics, high technology, media/marketing and publishing, as well
as the excellent demographic perspectives are signs for a robust local economy. The retail market has kept its
high standard; the demand from national and international retailers for attractive sales areas in the prime locations is unbroken and the rent level also remains stable compared to other European metropolises and countries. Targeted project developments, shopping centre extensions and revitalisations as well as Business Improvement Districts (BIDs) in many city district locations are constantly changing the market and offer interesting
perspectives for national and international retailers.
Between Trend and Tradition – The Characteristic Features of Hamburg’s Local Economy and Retail
The Hanseatic City Hamburg as metropolis in the metropolitan region Hamburg and second largest city in
Germany after Berlin is and has always been a traditional and well established economy and retail location.
The economic-political motto of the city, “Metropole Hamburg – Wachsende Stadt” (Metropolis Hamburg –
Growing City) also holds true for the current economically uncertain times. In Hamburg, one relies on longterm sustainable growth due to the diversified economical structure. Leading sectors such as the aviation
industry, high technology, wholesale and foreign trade, marketing and, last but not least, publishing and
tourism make Hamburg a safe haven in uncertain times.
However, Hamburg does not only have a strong local economy and a wide and varied cultural offer (three
musicals, museums, operas, two theatres, the Elb-Philarmonie which is currently under construction), but
also a very good connection to the neighbouring cities and administrative districts which have joined
together to form the metropolitan region Hamburg and which more than 4.3 million people live and work
in.
With its urban-hanseatic flair, Hamburg takes an outstanding position as a retail location in the metropolitan region. The mixture of attractive shopping streets and the partly historical shopping passages and
galleries, which are typical for Hamburg due to its mostly rainy weather, makes shopping in Hamburg an
experience. Together with well-known shopping centres as well as individual city district locations and trend
locations, Hamburg offers an attractive mix which is possibly unique among the cities analysed by CB
Richard Ellis.
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©2009, CB Richard Ellis GmbH
Special Report Retail Report Hamburg
Most Attractive
Attractive German Inner Cities
14.60
München
16.30
11.80
Hamburg
6.40
10.50
Berlin
8.90
4.40
4.10
Köln
4.00
Dresden
2.80
2007
Stuttgart
3.10
2.40
2002
Düsseldorf
3.00
2.20
2.30
1.90
Leipzig
1.80
2.50
Nürnberg
1.80
Freiburg
3.80
0
5
10
15
20
Source: CIMA MONITOR 2007 Representative Survey for Germany, n=1.800
CB Richard Ellis GmbH 2009
Therefore, it is not surprising that Hamburg has achieved the second rank after the Bavarian state capital
Munich among Germany’s most attractive inner cities. This is even confirmed by the CIMA Monitor, a representative survey of consumers concerning their shopping preferences and their choice of location (when
shopping). Here, the brand competence and the urbanistic attractiveness were particularly interesting characteristics with which Hamburg’s retail market could definitely score points. Unfortunately, no more upto-date figures were available at the time of the reference period. These will be published in November
2009 by the CIMA.
Hamburg Compact – Key Facts about the Economy and Retail Location Hamburg
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We would like to introduce a new feature of our report, the so-called key facts. Here, all figures that are
relevant for retail are summarized in one table. What is new here is that all cities which are analysed by CB
Richard Ellis (Hamburg, Berlin, Munich, Frankfurt, Dusseldorf and Cologne) are compared with one another, so that one can get an impression of the top 6 cities of CB Richard Ellis at a glance.
Marktdaten im Überblick
Ham
Hamburg
Düsseldorf
Köln
München
1 735 663
528 217
664 838
3 341 675
995 423
1 326 807
2,9
9,8
1,1
- 3,1
9,8
6,2
304 679
209 892
323 550
260 600
232 126
314 119
Purchasing power index* (2009)
106,3
119,8
113,5
89,6
109,2
136,8
Purchasing power per capita in €
(2009)**
20 139
22 967
21 497
16 977
20 682
25 921
Centrality index (2009)
114,5
121,9
110,2
116,1
124,6
110,7
9,7
9,7
3,1
3,7
18,6
6,0
7,1
121,7
146,0
125,1
104,0
136,1
151,4
8,1
9,6
8,5
13,9
10,8
5,4
Population (31.12.2008)
Growth of population until 2025 in %
In-commuters
Market potential in bn. €
Turnover index (2009)
Unemployment rate in % (2008)***
* 100 = Ø Germany ** € 18.946 = Ø Germany, *** 8,7 % =Ø Germany
Frankfurt
Berlin
Key Facts – Hamburg at a Glance
Source: Various regional authorities, various statistics offices, (11. koordinierte Bev.-Prognose, Federal Employment Office, Bulwien Gesa AG, GfK AG)
The comparison of the top 6 cities of CB Richard Ellis shows that Hamburg is a growing city. The second
largest city in Germany is also a clear second rank (after Berlin) in this population comparison. The cities
Munich and Cologne as an “almost-megacity” follow at a clear distance.
The hanseatic city will remain the “growing city” of the north also in the future. In opposition to the overall
German trend of a declining population development (-3.2% until 2025), the signs are set for growth, not
only in Hamburg but in almost all the metropolises analysed by CB Richard Ellis. The winners are the Rhine
metropolises Cologne and Dusseldorf with a predicted growth of 9.8% each. The capital Berlin is an exception, with a predicted declining population of 3.1% until 2025. Hamburg is in the midfield with a predicted
population growth of 2.9%. However, with an absolute figure of 90 000 people, the population of Hamburg will be growing equally fast as the above-mentioned Rhine metropolises.
The purchasing power index of Hamburg (106.4 points) is clearly above the German average. However,
the hanseatic city is last behind the other Western German metropolises. The purchasing power of Hamburg’s population has constantly been declining in the past years and thus is following the overall German
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One indicator for the attractiveness and economic power of the city, and also for its significance in the
neighbouring areas is the commuting statistic. On weekdays, more than 304 000 people commute to
Hamburg for work. Thus, Hamburg has the third-highest value among the cities analysed by CB Richard
Ellis. Therefore, one has to assume that due to the commuters Hamburg has a “daytime population” of
nearly two million people, as it has the second highest number of commuters in the whole of Germany,
after the Main metropolis Frankfurt with its 213 187 commuters. Day tourists are not included in the commuter statistic and are generally difficult to measure statistically. In-commuters are particularly important
for the retail location because it is potentially possible that they go shopping at their workplace and thus
increase the centrality index of the city.
As a further indicator for the significance of the city as a retail market in the region and for the shopping
tourism is the centrality index. Here, Hamburg makes it to a strong fourth rank among the top 6 cities of
CB Richard Ellis, just behind Berlin. The value which is relatively high for a city of this size shows the large
significance of the city in the metropolitan region Hamburg once again. As opposed to other cities, there is
no noteworthy regional or supra-regional shopping centre around Hamburg which might deprive the city of
its purchasing power.
With approximately 9.7 bn. Euros, Hamburg also has the second largest market potential among the top 6
cities; Berlin has the largest market potential, which is mainly due to the large population. The high turnover potential of Hamburg once again emphasizes the national and international importance of the city as
a retail market and expansion goal for retailers in Germany.
trend. Reasons for this are particularly the rising costs for energy and fuel, as well as for health care and
retirement provision, which generally narrow the retail budget of consumers. A positive “escapee” from this
trend is Munich, where the purchasing power of the population has constantly risen in the past years.
Sven Buchsteiner, responsible for retail consulting and market research at CB Richard Ellis, confirms:
“The figures of Hamburg which are relevant for retail speak for themselves. The
high purchasing power, intense connection to the surrounding areas and the diversified economic structure underline the outstanding position in the metropolitan region Hamburg.
As the second largest city in Germany, Hamburg also paints a good picture of itself compared to the other cities analysed by CB Richard Ellis. In particular the
low unemployment rate and the many in-commuters can be seen as very positive
for the local economy and the retail market of Hamburg.”
The unemployment rate has also developed very positively. In 2008, it was clearly below the overall German average of 8.7% with 8.1%. Compared to the other cities, Hamburg also managed a second rank in
the above mentioned comparison. This is a clear sign for an employment market which is stable also in
times of crisis and which is supported by a diversified and innovative economic cluster which also inures to
the benefit of retail.
Very High Future Prospects for Hamburg – A Clear Signal for Security and Growth
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The renowned Prognos Zukunftsatlas also attests very good future prospects for the hanseatic city. In the
2007 ranking, the city was ranked 17th amongst the 439 German cities with county status and administrative districts. This attests that the city has high future prospects, which result particularly from good demographic perspectives, the robust employment market and the extraordinary competitive and innovative
abilities of the location. However, the city has to catch up in the area of social environment as well as the
Prognos Zukunftsatlas
Prognos Zukunftsatlas
Index
Index
Zukunftsranking 2007
50,5
50,5
50,6
50,6
Dynamics
17,8
Dynamics
17,8
Level
32,8
Level
32,8
Other Rankings:
Other Rankings:
Demographics
Demographics
Social Environment and Wealth
Social Environment and Wealth
Employment Market
Employment Market
Competitive and Innovative Abilities
Competitive and Innovative Abilities
Result: (* of 439 cities/administrative counties)
Very high future prospects
spread of wealth in the urban area. Among other reasons, this is due to the clearly diversified wealth levels in the various districts of the hanseatic city.
Result: (* of 439 cities/administrative counties)
Risk Rating (from 1 low to 8 high)
Source: Prognos Zukunftsatlas 2007, Prognos AG
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As a guest commentator, Heinrich Lieser, CEO of the HWF Hamburgische Gesellschaft für Wirtschaftsförderung mbH and the Hamburg Marketing GmbH, introduces the strengths of Hamburg as a business
location:
“Hamburg –The growing city. This is not only a slogan. The Prognos Zukunftsatlas has
also recently attested that our metropolis has very good future prospects.
The leading sectors of aviation, logistics, media and telecommunication, cultural and
port industry as well as LifeSciences and renewable energy play important roles here.
The strengths of these emerging industries are Hamburg’s economic capital.
As Germany’s second largest city, Hamburg is also the most important retail location
in the North. As the metropolis of the region with 4.3 million inhabitants, the city combines a multitude of tourist attractions and cultural diversity with Europe-wide renowned architecture. The urbanistic structure of the HafenCity and the international flair of the city as “Tor zur Welt” (“gateway to the
world”) make Hamburg a highly attractive retail location for customers, as well as national and international
retailers, who want to enlarge their presence in the market. The international popularity of the location is what
makes the market particularly attractive to many retailers.”
Heinrich Lieser – Vorsitzender der Geschäftsführungen der HWF Hamburgische Gesellschaft für
Wirtschaftsförderung mbH und der Hamburg Marketing GmbH
As already mentioned by Mr. Lieser, the Prognos AG has published an interim ranking, which analyses the
orientation of the 439 German cities with county status and administrative district and their emerging industries. This analysis is a pre-ranking for the “Prognos Zukunftsatlas 2010” which will be published in 2010.
The following table shows the results of the new emerging industries ranking.
Prognos Untersuchung – ZukunftsbranchenZukunftsbranchen-Update 2009
Prognos Emerging Industries 2009
Rank
City/administrative
City/administrative district
Total index
1
Free Hanseatic City of Hamburg
53.72
2
Berlin (capital)
52.47
3
Munich (state capital)
43.17
4
Frankfurt/Main
36.85
5
Cologne
31.66
6
Stuttgart (state capital)
29.26
7
Region Hannover
28.02
8
Dusseldorf
26.65
9
Biberach
25.78
10
Esslingen
25.64
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Source: Prognos AG
The Feri Capital Ranking, which analyses the economic power and future growth of the 60 largest cities
and conurbations, also confirms that Hamburg has very good future prospects and thus shows that Hamburg is one of the most economically stable cities in Germany.
Feri Capital Ranking
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Quelle: Feri Capital Ranking 2009
This ranking shows Hamburg as a clear number one, followed by Berlin. What is obvious is that all the
cities that are analysed by CB Richard Ellis are among the top 10 of the new analysis of the Prognos AG.
This is a clear sign of the economic and innovative strength of the German metropolises and metropolitan
regions.
Source: HafenCity Hamburg GmbH – Photo: Elbe&Flut
Aerial
Aerial Picture of Hamburg – Hamburg City and HafenCity
The reactivation of brownfield areas in favour of a future orientated urban development is a guarantee for
the maintenance of a continuous growth of the city. The so-called HafenCity is probably the largest urban
development project of a bronwfield site in Germany, if not the whole of Europe.
HafenCity Hamburg – Outstanding Waterfront-Development in Germany
Where freight cranes used to turn, and trading goods and bulk goods used to be shipped, nowadays construction cranes are turning and are creating new city quarters. Set in motion in the mid nineties, the HafenCity has been developing since 2000, when the master plan for the regulatory frameworks of the urban development was decided upon.
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The HafenCity is a waterfront development project, which is probably unique in Germany, both in size
and urbanistic exposure. The old centrally located and fallow port of transhipment between the historical
Speicherstadt and the Elbe is being developed into a new modern city and economy quarter, which combines living, services, work, cultural and leisure events and, last but not least, retail with one another.
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Source: HafenCity Hamburg GmbH
Quarters in the
the Western and Central HafenCity Hamburg
Outstanding developments, such as the Elb-Philharmonie in the exposed location of the Kaiserkai or the
economic and tourist core of the HafenCity, the “Überseequartier” with the open air shopping centre of
the same name (53,000 m² sales area) and the Science Center at the Chicagokai, are being created in
the HafenCity. With these renowned projects, the touristic attractiveness of Hamburg, as well as its economic power is supported once again. The following table shows the facts and figures of the HafenCity.
Facts and Figures HafenCity
Project Facts
Planned Area:
Area:
Total size
157 ha
Land size
123 ha
Possible reconstruction space (BGF)
2.0 Mio m²
Waterfront
10 km
Planned residential space (total)
193 600 m²
Planned retail & gastronomy space (total)
61 000 m²
Planned office space (total)
399 800 m²
During the period of planning and development (until 2025), a total of nine new city quarters will be created on the brownfield site of Hamburg’s old port, of which each one will cover different types of use.
One can say that the tendency of the Western quarters leans towards cultural, touristic and commercial
use, while the Eastern quarters are rather oriented towards office and residential space.
Applications and Investments (approx.)
Already secured projects
900 000 m² BGF
Projects in development/planning (currently)
60
Distance to city centre (Rathausmarkt)
ca. 800 m
Private investments
5.0 – 5.5 bn. €
Public investments
1.3 – 1.5 bn. €
Number of planned city quarters
9
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The entire HafenCity should be completed by 2025 at the latest. Until then, the inner city of Hamburg will
have grown by 40% and will have gained further attractions. Mr. Bruns-Berentelg, CEO if the HafenCity
Hamburg GmbH, talks about the impulse effect of waterfront developments and the future development
of the HafenCity in four open questions.
“There is no oneone-sided benefit in the waterfront project HafenCity,
HafenCity, but an urban mixmixture of residence, offices, leisure and culture in an exclusive, maritime location. Were
you following any previous examples?
With this very ambitious approach, the HafenCity is comparably unique. Other large
waterfront projects worldwide are indeed rather one-sided, in other words, they are
either strongly influenced by tourism or are mainly used for office and residential
space. In the HafenCity, a much more evenly spread approach is being followed. It is
all about the invention of a new type of inner city core, which is at the same time a
place of living, workplace, and culture and leisure location. The uses are all mixed within the buildings and
overlap. Thus, we are not developing a residential quarter, a service quarter and a cultural centre next to one
another but a fine-grained and well-mixed inner city core.
How does the Überseequartier, the future commercial core of HafenCity, fit in there?
Jürgen Bruns-Berentelg, CEO of the HafenCity Hamburg GmbH, on the development of the new city
district:
The Überseequartier, as the core of the HafenCity, will be very largely influenced by approximately 40,000
m² of retail space, which will spread out over approximately 8 ha on one or two floors, while the other buildings are to be used mainly as offices, flats or hotels. In this way, apart from a good 1,000 residents and approximately 7,000 employees as regular users, another approximately 40,000 visitors will frequent the Überseequartier and will create a much more urban city location than would have been possible with a closed
shopping centre.
Jüngste Städterankings sehen Hamburg weit vorn als Lebensort und als Reiseziel. Welche Rolle spielt dafür
die HafenCity?
Die HafenCity spielt eine doppelte Rolle. Zum einen repräsentiert sie einen herausragenden Marketingfokus
für Hamburg und bündelt die wachsende Attraktivität der Stadt räumlich, etwa durch die entstehende Elbphilharmonie, das maritime Ambiente und die moderne Architektur. Zum anderen erhöht sie das Angebot: Leben am Wasser und gleichzeitig in der inneren Stadt wird möglich (dank ca. 5.500 Wohnungen) – und vor
allem zu Kosten, die nicht Luxuswohnen bedeuten müssen. Für Touristen ist die maritime Struktur der HafenCity und ihre Vernetzung mit der Speicherstadt ein zusätzlicher großer Gewinn neben Einzelprojekten wie dem
Internationalen Maritimen Museum oder der Elbphilharmonie. Hamburg gewinnt an Authentizität, Image und
Möglichkeiten.
Which impulses does the offer of the HafenCity have for retail and gastronomy?
In its maritime atmosphere, the HafenCity offers a concentrated diversity of retail and gastronomy together
with cultural offers. One can experience this total offer, which creates an additional appeal for the metropolitan region and also for tourist activities, from the Speicherstadt and the Traditionsschiffhafen (historical harbour) to the Kreuzfahrtterminal (cruise ship terminal). Due to its close connection to the inner city, the HafenCity creates impulse effects for the locations in the present shopping areas and the Elbe, as well as a support
of the offer of the inner city core in total. This is important for Hamburg because, compared to other metropolises, the retail offer in the inner city is too weak quantitatively speaking.”
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The following graphic shows the current state of development in the project development of the HafenCity
Hamburg.
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State of the Developments in the HafenCity Hamburg End 2009
The cultural and economic offer of Hamburg is diverse and has had a positive influence on the hotel market for years, mainly due to the growing number of private and business visitors. Even the prime values
during the football world cup 2006 in Germany could be exceeded in 2007 and 2008. In 2008, the hotel
market in Hamburg reached an all time high of approximately 7.7 million overnight stays and 4.1 million
guest arrivals. The average duration of stay was 1.9 nights. Despite the current economic insecurities,
2009 also seems to be a good year for Hamburg’s hotel market, considering the fact that in the period
from January until August 2009, more people have stayed in Hamburg’s hotels than in the same period
of the preceding year.
Development of Accommodation Statistics in Hamburg
9,000,000
8,000,000
7,177,327
7,000,000
7,402,423
Tourism – Good Figures in Difficult Times
7,727,621
6,435,106
Ove r night stays
5,945,507
6,000,000
5,402,300
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
0
2004
2005
2006
2007
2008
Jan - Aug 09
Ye ar
Overnight Stays
Source: Hamburg Tourismus GmbH, Statistical Office for Hamburg and Schleswig-Holstein
Arrivals
At this point, the importance of the shopping tourism for Hamburg’s retail market should be emphasized
once more. Hamburg is a clear destination for shopping tourists, lying equal with similarly internationally
well-known German cities such as Berlin or Munich. The special mix of cultural offer, urban hanseatic
flair, the extraordinary wide and deep brand and branch mix as well as the respective shopping possibilities in the inner city make Hamburg a clear shopping tourism destination.
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A study of the Hamburg Tourismus GmbH in cooperation with the dwif Consulting GmbH, however,
shows that Hamburg, other than the other above mentioned metropolises Berlin and Munich, has not yet
made full use of its entire potential in the area of shopping tourism, so that new impulses for growth of
Hamburg’s inner city and its retail might be found here in the future.
Tourism: Cash Cow and Job Generator
Tourism is one of the most important sources of turnover and employment in the
metropolis Hamburg. The gross turnover of the sector is more than 6.22 bn. Euros,
102,000 people make a living from tourism. This is the result of the analysis of the
dwif Consulting GmbH, which was undertaken for the second time since 2001 on
behalf of the Hamburg Tourism GmbH.
With a turnover of approximately 2.85 bn. Euros, Hamburg’s retail market is the
major benefactor of the tourism. “Shopping” has a central meaning for Hamburg’s
tourism as it comes up to 45% of the overall tourism turnover.
Dienstleistungen
Bruttoumsatz
insgesamt:
6,33 Mrd. €
1,11
(17,5 %)
Beherbergung
0,62
(9,8 %)
Mrd.
€
1,76
(27,9 %)
Claudia Stahmer, head of Monitoring & Consulting at HAMBURG Tourismus GmbH explains:
2,84
(44,8 %)
Gastronomie
Einzelhandel
Particularly the day guests have shopping as a motive for their visit to Hamburg. This is a huge potential, considering the 111 million people annually that travel to Hamburg for a day trip. Thus, day tourism has an overaverage meaning in Hamburg.
In the international competition, Hamburg still has promising potential concerning the realization of the attractive
shopping offers. This is proven by the city ranking of Hamburg, Berlin and Dresden. The turnover share of retail
with overnight guests lies at only 9.9% in Hamburg. In Berlin (20.8%) and Dresden (28.3%), a lot more money
goes into retail. With an average of approximately 172 Euros per person, overnight guests spend only 17 Euros
in retail, which leaves a lot of potential for improvements.
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Within this study, a calculation of the economic factor for the entire metropolitan region was undertaken once.
Further facts on this are: The metropolitan region of Hamburg counts 53.2 million overnight stays annually and a
total of 198 million day guests, which, according to the dwif calculations, results in a gross turnover of 9.2 bn
Euros and 251.2 million days of stay. The region thus receives 688,000 visitors per day with a turnover of 25.5
million Euros. 175,000 people in the metropolitan region make a living from tourism.
City Ost
Mönckebergstraße
Spitalerstraße
Bergstraße
Rathausmarkt
1
4
City West
6
5
8
Jungfernstieg
Neuer Wall
Gänsemarkt
Poststraße
ABC-Straße
Neue ABC-Straße
Gerhofstraße
Große Bleichen
Hohe Bleichen
Bleichenbrücke
Colonnaden
7
2
Outline Map Retail Locations - City Hamburg & City Districts
a
City Hamburg
3
Stadtteillagen Hamburg
Page 15
1 Eppendorf
2 Altona
3 Bergedorf 4 Winterhude
Mühlenkamp
Eppendorfer Baum
Ottenser Hauptstraße
Sachsentor
Eppendorfer Landstraße Große Bergstraße
Source: CB Richard Ellis GmbH, Base Map: MapPoint 2009
November 2009
7 Othmarschen 8 Blankenes
5 Wandsbek
6 Eimbüttel
Waitzstraße
Blankeneser Bahnhofstraße
Wandsbeker Marktstraße
Osterstraße
CB Richard Ellis 2009
Hamburg’s retail landscape is very diverse. Apart from the inner city, many lively city districts and a total of
33 shopping centres, passages and galleries compete for the purchasing power of the customers. Concerning the prime locations, the retail market in Hamburg consists of the inner city as well as a total of eight city
districts, which can be seen in the previous map.
Retail is mainly influenced by the inner city, which is generally known as Hamburger City.
City The heart of retail
beats in the new and old town, around the Binnenalster and the Alsterfleet. Here one can find the shops
and flagship stores of most national and international retailers in a compact but very attractive urbanhanseatic atmosphere, a mixture of department stores and shopping passages. Together with a large offer
for tourists and a clear brand competence (Hamburg is the obvious target market for new national and
international concepts) a retail landscape has developed here which makes Hamburg the most important
shopping city of Northern Germany.
Structure of the Hamburger City
City West
Gänse-
ti
ns
er
eg
viertel
e
ich
n
Hauptbahnhof
f
ng
ße
ra
tst
Europa
le
ita
Sp
Passage
Be
str
rg
ke
üc
br
en
ich
Ble
all
W
er
u
Ne
g
t ie
ns
er
s
Po
Gr
le
eB
oß
e
aß
Mönc
all
rW
ue
e
N
kt
ar
m
us
a
th
Ra
Prime locations
Source: CB Richard Ellis GmbH, Base Map: MapPoint 2009
a
e
aß
rstr
ße
rgstra
kebe
ergstraße
Mönckeb
City East
B-locations
Other Locations/Centre
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November 2009
HanseHanse-
Ju
Hohe B
leichen
f
ng
Ju
markt
e
aß
r
t
S
CAB
Hamburg – The Gateway to the World as a Springboard into the German
Market
City East – Where the Heart of the Mass Market Beats Faster
The City East ranges from the main station in the East to the Alsterfleet in the West. The Alsterfleet represents the natural borderline between the two sub-markets, which are connected by attractive bridges.
Les Grandes Dames de Ville – Mönckeberg- and Spitalerstraße
The Hamburger City has two separate sub-markets: the so-called City East and City West.
West Due to the urbanistic structure and the (retail) positioning, both sub-markets are discussed in further detail in the following, as they differ from one another clearly, yet both of them together make Hamburg’s retail market
unique. The clear positioning of Hamburg’s various shopping locations in particular gives Hamburg’s city
centre a clear structure and facilitates the search for a new location for the national and international retailers, because they can find the respective surroundings for their concepts and genres easily.
The City East comprises the two shopping streets and clear prime locations Spitalerstraße and Mönckebergstraße. Here, mass market and casual wear orientated national and international retailers are strung
together like pearls on a necklace, clearly influencing the obvious mass market orientation of the City East.
As well as the traditional department stores of Kaufhof, Karstadt and Peek & Cloppenburg (Nord), one can
also find flagship stores of Hennes & Mauritz, S.Oliver, the Hamburg shoe retailer Görtz and Zara here. An
outstanding position is taken by the electronics specialist store Saturn, which represents the largest store
worldwide (18,000 m² sales area) in an inner city location.
The Spitalerstraße leads into the Mönckebergstraße. The block of houses in this triangle consists of buildings
which are accessible from both shopping streets. This connection makes the two streets grow together, and
it also gives retailers the opportunity to make use of the potential of both streets at the same time.
In order to ensure a better illustration in this report, we want to introduce the newly designed trader plans of
CB Richard Ellis. In accordance with the ground plans and on a large scale, we want to present every tenant
in all streets relevant to retail. Herewith, differences in locations concerning the tenants and buildings can
be seen more easily and decisions concerning expansion can be realised faster. The shopping routes show
all streets of the Hamburger City as well as selected city districts.
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November 2009
In the following, the Spitalerstraße and the Monckebergstraße can be seen as the first streets in the new
design.
Trader Plan Spitalerstraße
Steintorwall
Apollo Optik
1
Runners Point
Dat Backhus
Tö
1.000 T
öpfe
1
1
Hamburger Sparkasse 4
Karstadt Sport
3
Lange Mühren
Umbau 4
Peek &
Cloppenburg
n
ühre
eM
z
r
u
K
Orsay 8
E-plus 8
Vero Moda/Jack & Jones 8
Chiquita Fruchtbar 8
New Yorker 8
Thalia 8
Zero 8
Straßenlauf
Douglas
Anson‘
Anson‘s
Herrenmode
H&M 10
Lego 10
Centro Apotheke
7
7
ße
erstra
l
a
t
i
Sp
Das Depot 10
s.Oliver 10
O2 10
Tchibo 10
N
ße
aß
Mönckebergstra
1
Nike Town 2
Spitalerstraße
Hamburg
Hypo Vereinsbank
T-Punkt
9
ssage
Barkhof Pa
9
9
T-Punkt
Café
Café Vivet
9 Bijou Brigitte
9
Daniel Wischer 12
Lush
Zara
9
Deichmann 14
SIX 16
Deutsche Bank 16
Vodafone 16
Wolsdorff 16
Optik Weser
9
11
Görtz 17
Görtz
e
straß
Lilien
Kamps Bä
Bäckerei 22-26
Starbucks
E-Plus 22-26
HSH Nord
age
bank Pass
Vattenfall 22-26
Kundenzentrum
Juwelier Wempe 28
Pimkie 30
Roland Schuhe 32
Juwelier Christ 32
tz
-Pla
ann
m
t
up
-Ha
ard
h
e
G
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November 2009
Source: CB Richard Ellis GmbH
Steintorwall
Saturn
1
Karstadt Sport
ühren
Lange M
ühren
Lange M
Galeria Kaufhof
6
Douglas 8
Anson‘
Anson‘s
Herrenmode
8
Iittala 8
Orsay
5
Pimkie
5 Gold Kraemer
7 Swatch Store
5
ssage
Levantehaus Pa
7
ge
f Passa
Barkho
Massimo Dutti
7
Schuhbeck‘
Schuhbeck‘s Gewü
Gewürze
Mac Kosmetic 10
7
Petit Bateau 10
7
Princesse tam tam
Compagnie Coloniale
Zara 10
N
Mö-City Apotheke
3
ße
aß
Mönckebergstra
raße
lerst
Spita
3
Peek &
Cloppenburg
Monsoon Accessorize 10
Dorle Nielsen Blumen 12
Franco Francesco 12
Görtz 12
Straßenlauf
Mönckebergstraße
Hamburg
Trader Plan Mönckebergstraße Eastern Part
ge
Levantehaus Passa
7
7
7
Rösterei Hamburg
Calvin Klein
Marc O‘Polo
Swarovski
9
C&A
7
Barkhof
Schuhhaus Elsner
11
Esprit
11
Ditsch
11
Mango
11
Wiesenhavern Foto/Hifi/Video
11
11
11
11
H&M
Adidas
Fossil
13
a
WMF
Page 19
November 2009
Starbucks
The Mönckebergstraße has profited particularly through the opening of the so-called “Levantehaus”. In the
City East, the “Levantehaus” is an enriching opposite pole to the large flagship stores on the Spitaler- and
Mönckebergstraße. Together with the very attractive architecture of the overall ensemble, the small but special shops invite people for a stroll, so that the duration of stay in the “Levantehaus” can be seen as relatively long. Additionally, this is supported by the Hotel Park Hyatt, a five stars plus hotel which is connected
to the “Levantehaus”.
Dietmar Hamm from Kontorhausverwaltung Bach reports on the significance of the City East and the “Levantehaus” for retail in Hamburg.
Dietmar Hamm, Kontorhausverwaltung Bach – Levantehaus Hamburg explains:
Despite the large-scale cubature of the buildings, there are not only flagship stores and department stores
but also many smaller units to be found here, so that every solvent national and international retailer can
find a starting point for expansion with concepts of all sizes.
“Hamburgs inner city as we see it today when we move from the main station
towards the city hall will be 100 years old this year. The area around the Mönckebergstraße and Spitalerstraße was once built as an old office quarter with
mostly ground-floor sales areas.
Today, Hamburg’s inner city core covers this area. No matter which parameter
one uses to measure this (size of sales areas, turnover or footfall frequency), this
city quarter shows that the attractiveness of Hamburg’s inner city has not only
held its ground for the past 100 years, according to the current Brandmeyer study, it has also increased compared to other European inner cities.
This is pleasing, because the investments of the property owners were substantial, particularly in the last
15 years, and have contributed massively to giving Hamburg the reputation as a shopping metropolis.
The quarter Mönckeberg– and Spitalerstrasse stands exemplary for the changes in our retail landscape
like hardly any other quarter in Germany. Previously, our tenants were customer magnets with formerly
fine-sounding names such as Penndorf, Dykkoff, Sportlepp and Brinkmann.
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November 2009
Today, however, it is international companies that present their most attractive brands within the classic
architecture of our houses. However, this does not mean a loss of individuality for the small scale owner-run retail. Here, Barkhof and in particular the “Levantehaus” which was built 12 years ago are saving the coexistence of trade and brands under the sign of quality. This duality of classic locally bound
retail with international competence will dominate our actions within the properties maintained by us
also in the future, with the result of an attractive Hamburg inner city.”
The “Levantehaus” belongs to a multitude of inner city shopping passages and galleries which are clearly a special feature of Hamburg’s retail market. The branch and brand mix is
diverse and one can find mainly upmarket and top level genres. Often there are traditional Hamburg retailers in the shopping passages and galleries, who mainly attract target audience due to their supply and product range.
In addition, however, shopping passages and galleries offer
an effective option for national and international retailers who
want to test their concepts in the German market without having to take on a risk of high rents. The rent levels of the sales
areas in the passages differ in parts clearly from the locations
in the upper price range of the Hamburger City. The following
table shows an overview of the relevant inner city shopping
passages and galleries of the Hamburger City.
Impression Levantehaus
Quelle: Foto: www.mediaserver.hamburg.de/C.O. Bruch
Einkaufspassagen und –galerien in der Hamburger City
Shopping passages and galleries in the Hamburger City
Name
Sales area (in m²)
Year of construction/opening
Number of stores
Europa Passage*
30,000
2006
130
Hanse-Viertel*
10,000
1980
62
Gänsemarkt-Passage
6,400
1976, mod. 2001
30
Levantehaus
6,000
1997
46
Hamburger Hof
5,700
1881, mod. 2000
24
HSH Nordbank Passage
5,200
1974, mod. 2002
35
Bleichenhof
3,500
1990
32
Kaufmannshaus
3,500
1907, mod. 1978
20
Galleria
1,800
1983
25
Source: HK Hamburg, CB Richard Ellis GmbH
* Due to their size, these objects belong per definition to the shopping centres. For the sake of completeness and due to their significance, they are also mentioned in this table.
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November 2009
The Spitaler- and Mönckebergstraße are also the most highly frequented shopping locations in the Hamburger City. In a paneuropean comparison of footfall frequencies undertaken by CB Richard Ellis in April
Die Top 20 der höchst frequentierten Einkaufsstraßen in Europa
TOP-20 Footfall in the pan-European Com parison
Average Hourly Frequency on tw o Saturdays betw een 12:00 am und 3:00 pm
Germany, Cologne - Schildergasse
17,196
UK, London - Oxford Street (West)
16,148
Germany, Hamburg - Mönckebergstraße
15,521
Germany, Munich - Kaufinger Straße
14,163
Germany, Frankfurt - Zeil
13,378
Spain, Barcelona - Portal de l´Angel
13,042
12,020
Ireland, Dublin - Grafton Street
Ireland, Dublin - Henry Street
10,988
10,116
UK, London - Covent Garden-James Street
UK, London - Oxford Street East
9,853
Belgium, Antw erp - Meir
9,726
Germany, Cologne - Hohe Straße
9,020
Denmark, Copenhagen - Amagertorv / Niels Hemmingsensgade
8,701
Denmark, Copenhagen - Østergade / Amagertorv
8,436
Austria, Vienna - Mariahilfer Straße
7,881
Sw eden, Stockholm - Drottninggatan
7,817
Germany, Hamburg - Spitalerstraße
7,813
Germany, Dusseldorf - Schadow straße
7,710
Austria Vienna - Graben
7,624
Denmark, Copenhagen - Vimmelskaftet/Skoubogade
7,387
0
Source: CB Richard Ellis GmbH, Status April/Mai 2008
and May of last year, the Mönckebergstraße was ranked third, which clearly underlines its top position
among the European shopping streets. The Spitalerstraße still managed a very respectable rank among the
top 20 of the most highly frequented shopping streets in Europe. Generally, the analysis showed the high
and what is more important continuous potential of the German inner cities as most important (retail) trade
locations in the European retail market.
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
What needs to be mentioned here additionally is that any measurement of footfall frequency in the German
as well as the European prime locations can only ever be a snapshot. However, the very good performance
of the German shopping streets shows that the German consumers accept the inner cities as their central
retail locations. The sales potential that is connected to this makes the locations particularly attractive for
national and international retailers. The prime locations therefore belong to the most attractive expansion
goals.
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November 2009
The outstanding footfall frequencies in both pedestrian zones are supported by the very good connection to
public transport. Central underground and tram stations, but also the Hamburg main station contribute to
this. In the East, both streets are connected to the Hamburg main station, as a rail junction for the local,
regional and international railway services. In comparison with other cities analysed by CB Richard Ellis, no
other main station is connected to the prime locations as well as the Hamburg main station, apart from the
Cologne main station. However, the Hamburg main station lags behind other comparable objects such as
Cologne, Berlin, Hannover or Leipzig, concerning the use of its own retail potential.
“The City East is positioned as a clear mass market location. Due to the high
density of flagshipstores and the highest footfall frequencies in the city, the City
East presents itself as almost entirely safe against crises, which is particularly important nowadays.
The demand for attractive retail spaces in the prime locations remains unbroken
and has even increased concerning national and international concepts. The
demand clearly exceeds the supply, so that stable rent levels can be assumed in
the prime locations.“
A city district location which is developing dynamically follows to the East of the station: the Lange Reihe in
St. Georg. The area is a mixture of amusement and trend location, coupled with local supply for the residents of the quarter (Kiez). Here, mainly small boutiques and unusual concepts dominate the streetscape. In
the future, the Lange Reihe can certainly also be an expansion goal for individualist pioneers.
Philipp Hass, Head of Retail Agency in Hamburg for CB Richard Ellis clarifies:
Due to the underground station “Barkhof”, named after the street and shopping gallery, both the Spitalerstraße and the Eastern Mönckebergstraße receive additional footfall frequencies from the West. The gastronomy competence of the location has been increased due to the reopening of the historical pavillon at
the Mönckeberg fountain, the former “Volkslesehalle”. The American coffee shop concept Starbucks have
rented the pavillon. The increase in quality of stay is welcome because now it is not only up to the wellknown Mö-Grill and the old-established fish shop Daniel Wischer anymore to feed the hungry shoppers in
the City East.
The entrance to the “HSH-Nordbank Passage” is situated in this area of the City East. The passage offers
mainly mass market and local supply concepts. In addition to the “Levantehaus” and the “Europa Passage”,
it is the third shopping passage of the City East.
From the Distinguished Mass Market Location to the Trendsetter – The Western Mönckebergstraße
The Western part of the Mönckebergstraße between the entrance to the “Europa Passage” and the Rathausmarkt, the main tourist attraction in Hamburg, was known as a distinguished shopping location in the
City East up until now. Compared to its Eastern sisters, the much less hectic Western Mönckebergstraße is
shaped by tourist or mass market target customer concepts such as Hirmer, Jack Wolfskin and Sport
Scheck.
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November 2009
The St. Petri church, one of the many important churches in the Hamburger City, also has a “decelerating”
effect on the location. Due to the building, the Western Mönckebergstraße “loses” a major part of the Southern street front as sales area, but due to the large tourist and historical importance of the church, it attracts yet another audience.
Since this November, the “distinguished” location has changed and become a “trendsetter” on the retail
market of Hamburg. In the former “Sporthütte” (Intersport) in the Mönckebergstraße 22, the first high street
stores of the trendy young fashion concept Monki as well as the very first Weekday store outside of Sweden
have opened up in Hamburg.
Impressionen
Impressionen Storefront Monki und Weekday (Mönckebergstraße 22)
Quelle: CB Richard Ellis GmbH
Monki and Weekday – New Colours for the Hanseatic City
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November 2009
Both concepts belong to the Swedish fashion group Hennes & Mauritz; Hennes & Mauritz now present
themselves with all seven concepts in the German market (H&M, H&M Women, H&M Men, H&M Lingerie,
COS, Monki, Weekday).
The dynamics of the shopping location on the Western Mönckebergstraße will increase in the medium term
due to the opening of Monki and Weekday, because the whole location will become younger and more
trendy thanks to the two new concepts. The rejuvenation started with the street wear label Snipes and the
young, sportive Italian jeans label “Miss Sixty”, who both run a store on the opposite side of Monki and
Weekday. This development offers other national and international retailers new starting points for expansions, because a “new” location is in the making which would not have come into consideration for every
retailer until now. Hennes & Mauritz were advised by CB Richard Ellis concerning the rentals for Monki and
Weekday.
A further highlight on the Western Mönckebergstraße from another genre is the solitary concept store of the
Thomas-i-Punkt retail company. In a high-class surrounding, the local Hamburg retailer brings new, innovative brands exclusively to Hamburg and thus strengthens the brand competence of Hamburg’s retail market sustainably.
The Swedes have chosen Germany as pilot market for the European roll-out of both concepts, which yet
again underlines the trust of international (fashion) retailers in the constant German retail market. Hamburg
thus strengthens its position as an entry market for international concepts, a good year after the US American urban wear label Urban Outfitters opened up their first pilot store in Hamburg. Further newcomers will
be following in the near future: the young and sportive brand Hollister of the US American fashion group
Abercrombie & Fitch will be opening their second German store in the “Elbe Einkaufszentrum”.
“Europa Passage” – Urbanistic Integration through Retail
The construction and opening of the “Europa Passage” was an overall positive factor for the entire development of the City East, in particular from an urbanistic viewpoint. The Paulstraße, which was until then
rather struggling from a retail point of view, was successfully urbanistically integrated through the construction of the “Europa Passage” which also involved superstructuring, making the City East and City West grow
together more closely and also offering an appropriate escape from the changeable Hamburg weather.
In the meantime, the passage seems to have become an integral part of the Hamburger City. The management still paints a positive picture after two and a half years, despite the fact that a final branch and
brand mix seems to have not yet been found for the centre. One can still observe quite a high rate of fluctuation among the tenants.
With the additional 130 stores and approximately 30,000 m² of new sales area, the City East could however clearly improve their position against the City West. Particularly the supply of small surfaces has clearly
increased; a “privilege” which was previously reserved for City West due to the urbanistic and constructional
structure as well as the larger proportion of shopping passages and galleries.
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November 2009
On the following page, we would like to introduce the trader plan of the Western Mönckebergstraße.
Trader Plan
Plan Western Mönckebergstraße
Ida--EhreEhre-Platz
Ida
Hauptmann-Platz
GerhardGerhard-Hauptmann-
15
AppelrathAppelrath-Cüpper
aße
bergstr
Möncke
Straßenlauf
Karstadt 16
17
Herrenausstatter Braun
17
Bonita
17
Yves Rocher
ehem. Passage Kino
17
17
Mönckebergstraße
Hamburg
Foot Locker
19
Tchibo/Hansebä
Tchibo/Hansebäcker
19
Bärenren-Treff
Apanage
Vodafone
19
19
Kreuslerstraß
Kreuslerstraße
21
Eingang Europa Passage
ThomasThomas-i-Punkt
Bei der Petrikirche
Benetton
Salamander
Christ
18
BIBA
18
St. Petrikirche
N
Sport Scheck 18
e
straß
Berg
O2
27
T-Punkt 20
Café
Café Brunilandia 20
Miss Sixty
e
traß
ergs
b
e
k
c
Mön
27
Ara Shoes 20
Fielmann
29
Monki 22
Weekday 22
SMS Michel
Snipes
22
Tchibo 22
te
ertwie
enhau
Kn o c h
31
31
E-Plus
Neckermann Reisebü
Reisebüro
31
Jack Wolfskin
31
AnzugAnzug-Outlet
31
a
Hirmer
Page 26
November 2009
25
In the slipstream of the Mönckeberg- and Spitalerstraße and, more recently, around the “Europa Passage”
lies the quarter around the Bergstraße with the crossroads Hermannstraße, Plan and Ballindamm. The
branch and tenants mix presents itself as varied, ranging from fast gastronomy and/or tourist concepts such
as Jim Block, the Schlemmermarkt or Dat Backhus to upmarket concepts such as the men’s outfitter Braun
and SØR Rusche or the Hamburg ladies wear label Closed. Due to the shortness of the street and the relatively high footfall frequencies between the City East and the City West, the Bergstraße will be further developing its function as a local supply location of the Hamburger City and will continue to play an important
role for specific concepts in the City East.
Trader Plan Bergstraße and Crossroads
Straßenlauf
Mö
nck
ebe
rgs
tra
ße
Bergstraße
Hamburg
Sport Scheck
12
Apotheke
14
Görtz 17
14
Budnikowsky
26
S ØR
26
Hermannstarße
Sparda Bank 22-24
Malvin 22-24
Debitel/mobilcom
Balzac
Milano
Mö
nck
ebe
rgs
tra
ße
T-Punkt
Bergstra
Bergstraß
ße
Starbucks
Europa Passage
More than just Parallel and Crossroads – Between Mönckebergstraße and Ballindamm
26
11
Dat Backhus
11
Closed Jeans
rße
starß
Hermann
17
Hagel Hair Company
17
Schlemmermarkt
17
Maggie Kochstudio
17
Herrenausstatter Braun
26
26
a
Block House
Haspa
Page 27
November 2009
Binnenalster
Jim Block
N
Ballindamm
Jungfernstieg
Plan
Around the Rathausmarkt and to the West – Tourism and Office Location
Aerial View Hamburg City Hall and Nikolai Quarter
Source: Photo: www.mediaserver.hamburg.de/C. Spahrbier
Rathausmarkt – The Tourist Heart of Hamburg
For many visitors and tourists, the central meeting point of the Hamburger City is the Rathausmarkt. It is
dominated by the imposing city hall in which the Hamburg city-state parliament meets and is a meeting
point and venue for various events. The hustle and bustle is accordingly high, generating the footfall frequency which is necessary for retail. The Rathausmarkt is also an important connection between the two
sub-markets, due to its bridges over the Alsterfleet leading to the Alsterarkaden and the City West.
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November 2009
From a retail perspective, the Rathausmarkt is clearly to be seen as a tourist location which, however, does
not only count on gastronomy and tourist concepts such as in the two pavilions on the square, but also offers attractive and high class mass market and upmarket opportunities. Among other reasons, this is due to
the direct proximity to the quarter around the Bergstraße, but also due to the Western Mönckebergstraße
which leads directly to the Rathausmarkt, which has a similar branch and brand mix. The Rathausmarkt by
all means offers national and international retailers expansion goals. Due to the small number of buildings
around the square, however, one can assume that there will be little movement on the letting market. The
following graphic shows the trader plan of Hamburg’s Rathausmarkt.
Puma
Straßenlauf Hamburger Rathausmarkt
Hugo Boss
Schleusenbr
Schleusenbrü
ücke
Alsterarkaden
Alsterfleet
Bucerius Kunstform
1
Alsterfleet
Hamburger
Ehrenmal
Alter Wall
Reesendamm
Fast
Bogner
5
Food
N
Rathausmarkt
Eis
Rathaus
Lotto
5
Starbucks
5
Pal Zileri
Toto
Plan
Kupper
7
Schlemmermarkt
7
Marissal Bücher
Souvenir
Rügis
Snack
Hermannstarße
Groß
Große Johannisstraß
Johannisstraße
Tchibo
31
Mö
nck
ebe
rgs
tra
ße
Jack Wolfskin
Fielmann
E-Plus
Anzug Outlet
31
31
Rathaus Apotheke
Hirmer
Kamps
1
31
19
Haspa
19
Ra
th
au
ss
tra
ße
Straßenlauf
Rathausmarkt
Hamburg
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November 2009
In the medium term, however, a positive development of the so-called “Nikolai-Viertel” around the Hamburg Nikolai church is to be expected, because here owners and business people have joined together to
form another BID (Business Improvement District), the “BID Nikolai Viertel”, in order to continuously upgrade the district. Only the future will show whether a new tourist walking route from the inner city to the
HafenCity will develop here, because the projects that are already being developed in the HafenCity are still
too young to be able to tell whether they will be able to develop into magnets or not. For reasons of completeness, we will present the trader plan of the Großer Burstah.
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Page 30
The rest of the streets to the West of Hamburg’s Rathausplatz must be seen as clear B locations. The Große
Johannisstraße is still influenced by tourism, while the retail spread of the Große Burstah is clearly influenced by owner-run specialised stores as well as (gastronomy) concepts which are specialised in serving the
many office workers in this area during lunch time. Therefore, regional and national retailers with precisely
these concepts can find starting points for an expansion here
November 2009
“Nikolai Viertel” – Große Johannistraße and Großer Burstah – Office and Hotel Location
ke
üc
br
1
en
rs
Bö
Straßenlauf:
Großer Burstah
Hegrat‘
Hegrat‘s Asienhaus
1
Sylter Milchbar
ee
Fl
3
t
Segway
3
Haspa
Ihr Schneider Atelier
3
Lotto 10
Backwerk
3
Parfü
Parfümerie am Groß
Großen Burstah
h
s ta
ur
rB
ße
ro
G
Kamps 10
Straßenlauf Großer Burstah
MCI Reiseservice
3
Hahnentrapp
City Backhaus
2
19
TUI
23
DAK
25
Schü
Schütt Optik
27
Eggers for women
29
Rahmenart
31
Edeka
31
Lenffer
N
Umbau 3232-34
Großer Burstah
Groß
Galerie Rose 36
Hilde Leiss 38
Umbau fü
für Butlers 42
Kleiner Burstah
Stoffdealer 44
Optik Renken 4646-48
53
Heymann Bü
Bücher 50
Blumen 50
53
53
HDI
Schlecker
Prima Pane
Starbucks 52
53
Rö
din
gs
-
55
Tobacco Point
Böhmers Backshop
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November 2009
ma
rkt
The last retail report on Hamburg says “Hamburg is upcoming and growing” and this
brief statement has proven to be true even during the crisis. Even if Hamburg’s retail market can not shake off all the effects of the overall economic downtrend, it can, however,
hold its ground much better than the national average.
This is also true for the City which finds itself on the growth path, as a result of the
last two years of diverse commercial renewal processes, accompanied by creative urbanistic improvements. In a rough estimation, the private investments in retail properties and business equipment as well as public space in the past three years have clclearly exceeded the value of ½ bn Euros. The good starting basis which has thus been created must,
however, not be mistaken for a reason to rest on one’s laurels. Great challenges are waiting to be mastered by Hamburg’s City:
With a proportion of sales areas of less than 12 % and a proportion of the total Hamburg fixed retail turnover
of 17 %, the Hamburger City takes on a relatively modest position compared with other large cities. Munich,
for instance, concentrates approximately 30 % of its retail turnover in the city and, with almost 3 bn. Euros,
exceeds Hamburg’s City turnover by 2/3. The historically grown polycentrality of Hamburg poses a development restraint for inner city retail, which has to be thwarted in two ways. First, the city’s urban policy needs to
consider the negative backlash of the additional sales areas outside the city more strongly and, apart from
that, mutual urban policy and private investors need to utilize shared expandabilities more forcefully, particularly in the Western inner city.
Heinrich Grüter, Geschäftsführer des Trägerverbund Innenstadt e. V. über die Herausforderungen
an Hamburgs City:
It seems that this challenge has recently been accepted. The developments in the Hohe Bleichen and particularly along the crossroads Gänsemarkt / Stephansplatz and Gänsemarkt / Valentinskamp are important
inner city expansion areas with thoroughly diverse potential focal points for usage.
The Eastern inner city also holds potential for development to the South of the Steinstraße in the “Kontorhausviertel”. The future use of the Domplatz, the revitalisation of the Burchardplatz and the rearrangement of the
Kontorhausviertel which is now dominated by city highrises, offer opportunities also for retail. In order to raise
these potentials, however, elaborate urbanistic developments will become necessary. The development possibilities need to be made use of in order to at least stabilise the Hamburger City retail situation in its absolute
and relative position compared to competing locations.
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November 2009
A developmental leap in City retail might be achieved with the help 40,000 m² of sales area that have been
predefined for the “Überseequartier” in the HafenCity. Compared to the already existing 309,000 m² sales
area, this would mean an increase of almost 15 %. However, the necessary urbanistic integration of the existing City with the HafenCity has turned out to be a challenge which is not going to be met easily. A commercial development of the “Überseequartier”which will strengthen the entire inner city retail can only work if
mainly innovative retail formats (apart from the necessary local supply for the people who live and work in
the quarter) settle here, which become an accepted amendment to the inner city offers, in parts also tourism
orientated. The aspired urbanistic integration of the “Überseequartier” with the “classical” City, which will not
be realised in the short term, has to be commercially highlighted by means of a highly attractive utilization
concept, whose realization is a special challenge considering the current economic situation.
In the City West, historical Kontors, classic trade houses, shopping passages and galleries as well as modern office building developments dominate the cityscape. They create a special urban flair which invites
consumers to stroll and shop in this area and with which many visitors identify Hamburg: A distinguished
shopping experience in an international city.
Due to the structure of the buildings, a large part of the sales areas is small or medium sized; large flagship
stores like the ones on the Mönckebergstraße or the Spitalerstraße are rather rare. The City West also clearly differs from the City East concerning the positioning. While the City East is clearly directed towards the
low- and medium-priced consumption, the City West offers the interested customers more upmarket and
luxury concepts. This is not only supported by the many single stores, but also by shopping passages and
galleries such as the “Hanse-Viertel”, the “Hamburger Hof”, the “Galleria” and the “Kaufmannshaus” as
well as the luxury department store “Alsterhaus”. Thus, the visitors of the City West get the opportunity to
remain in the area for a longer period of time and to go on extensive shopping tours. The duration of stay
in the City West is thus clearly longer than that of the City East.
City West – High Class Retail between Kontors and Trade Houses
The City West basically consists of a multitude of different shopping streets, the Neuer Wall, the Jungfernstieg, the Große Bleichen, the Bleichenbrücke, the Poststraße, the Gerhofstraße, the Gänsemarkt as well as
the ABC quarter with the ABC-Straße and the Neue ABC-Straße, and the Hohe Bleichen. A further closed
and retail relevant street are the Collonnaden. For each street, we would like to make a newly designed
trader plan available and inform you about the newest and most outstanding developments in these streets.
Impression
Impression City West - Jungfernstieg and
and Alsterarkaden
a
Page 33
November 2009
Source: CB Richard Ellis GmbH, Spring 2009
The branch and tenants mix between the “Alsterarkaden” and the Gänsemarkt presents itself in the upmarket area up until now. René Lezard, Wempe, Chopard, Geox, Gerry Weber and the shoe store Prange can
be named as anchor tenants. An outstanding position is taken by the “Alsterhaus”, even from an architectural perspective alone, due to the classic Gründerzeit facade which reminds of the “golden times” of the
department stores. Despite the turmoil concerning the parent company, the “Alsterhaus” will remain the
anchor of the Jungfernstieg and the City West. A special characteristic as representative branch of the local
economy is the “Nivea-Haus”, which is situated in a prominent location on the corner of the Neuer Jungfernstieg. Here, the Hamburg Beiersdorf group presents the entire product range of its brand Nivea.
In the meantime, however, also clearly younger concepts have settled down on the Jungfernstieg. The
youngest new entry is the US American jeans label Levi’s, the succeeding tenants of the Italian jeans label
GAS. But also Bestseller and American Apparel have contributed to the rejuvenation of the location. The
demand for spaces on the Jungfernstieg remains unbroken. The missing street front at the Binnenalster,
which reduces the sales areas as such, has a limiting effect on faster expansions. The two trader plans of
the Jungfernstieg can be found on the following pages.
a
Page 34
The Jungfernstieg, one of Hamburgs most famous magnificent streets, stretches out along the Binnenalster.
The street belongs to the most frequently photographed motives of the city and enjoys international fame.
The “Alsterhaus” as well as the “Hamburger Hof”, the oldest shopping passage in Hamburg’s inner city,
shape the architectural picture of the area.
November 2009
Jungfernstieg – The Classic Upmarket Location in Upheaval
Trader Plan
Plan Jungfernstieg (between Neuer Wall and Große Bleichen)
Groß
Große Bleichen
Bucherer
25
Straßenlauf
Robbe & Berking
22
Donna Leder
22
Dresdner Bank
22
Alsterhaus
16-20
14
Beutin Modehaus
12
Brahmfeld & Gutruf
12
Beutin Modehaus
endae
Alsterprom
Salamander
N
Binnenalster
ieg
Jungfernst
Jungfernstieg
Hamburg
12
Geox
D.O.C.
Neuer Wall
Binnenalster
Wempe
Douglas
Umbau
Tee Gschwendner
7
7
7
7
Ballindamm
Alsterarkaden
Kleine Alster
1
Block House
Jim Block
1
ssage
Haspa
Pa
Europa
Reesendamm
1
Plan
a
Page 35
November 2009
rkt
ma
nse
Gä
Gänsemarkt Passage
Mieter u. a.:
Schlemmermeyer
Jun
Block House
T-Punkt
Butlers
Elb
traße
Gerhofs
47
Stegmann Hü
Hüte & DOB
46
Dat Backhus
45
Douglas
44
Langhagen & Harnisch
44
Alligator Lederwaren
43
Schuh Kay
41
Vero Moda,
Moda, Jack & Jones
40
Zwilling Jeand‘
Jeand‘Heur
Aust
Ciro Juwelen
Streit‘
Streit‘s Filmtheater
Prange Schuhe
38
48
48
Roth‘
Roth‘s Alte Englische Apotheke
House of Trend
49
49
Alster Änderungsschneiderei
Deutsche Bank
50
C&M Friseur
51
American Apparel
51
Optiker Bode
51
Nivea Haus
Jungfernstieg
Hamburg
N
g
Neuer Jungfernstie
38
38
38
38
34
René
René Lezard
34
30
Hamburger Hof Passage
Alsterpromendae
Chopard
Levis
Jungfernstieg
O2
Straßenlauf
Trader Plan
Plan Jungfernstieg (between Große Bleichen and Gänsemarkt)
Binnenalster
Gerry Weber 26-30
Restaurant
a
Alex
Page 36
November 2009
Groß
Große Bleichen
Hamburg’s prominent luxury location is the Neuer Wall. Here one can find the highest density of branches
of international luxury labels; however, this does not imply that the Neuer Wall is not also undergoing constant changes in retail.
The Neuer Wall stretches out parallel to the Alsterfleet from the Jungfernstieg in the East to the Stadthausbrücke in the West. The relatively long trader plan of the Neuer Wall is crossed by the Poststraße and the
Bleichenbrücke. Thus, the street can be divided into three parts which differ in value and positioning. The
“Alsterarkaden”, an arcade construction which is highly frequented by tourists runs parallel and is connected to the Neuer Wall via the “Mellin-Passage”, which also supplements the area with restaurants and
high class boutiques.
The first part between the Jungfernstieg and the Poststraße is positioned in the upmarket mass market and
luxury area. The brands and/or branches of Bottega Veneta, Longchamp, Montblanc and Tiffany & Co can
surely be regarded as belonging to the luxury genre. But more mass market labels such as Mango, Görtz or
also Douglas and COS, the higher priced label of Hennes & Mauritz, can also be found here. The most
recent opening in a prominent corner location to the Jungfernstieg is the flagship store of the Italian shoe
retailers Geox. As a result, this part of the Neuer Wall is turning more and more into an upmarket location,
which means that it is also a new expansion area in the City West for national and international retailers
from this segment.
Neuer Wall – Well-established Luxury Location and Most Successful BID in Germany
Impression Neuer Wall / Poststraße
a
Page 37
November 2009
Source: Photo: www.mediaserver.hamburg.de/C.O. Bruch
Both segments but also the Neuer Wall as a whole have clearly gained quality of stay and even footfall
frequencies through the recently completed BID “Neuer Wall 1”. Even though it was not the first BID in
Hamburg, it was surely the one that has gained international attention, particularly due to its central location in the City West. The uniform street scene with the attractive furnishing and lighting as well as the distinguished cobble stones has given the entire street a new outer appearance. This has led to a further increase in market value and in expansion interests for national and international retailers in the location.
Once again, the BID development on the Neuer Wall shows the far-sightedness of Hamburg’s businessmen
and owners, who support active urban developments with their retail and retail property and who thus sustain and further increase the value of their properties. After the outstanding success of the measure, the BID
“Neuer Wall 2” is now in planning as of 2010, which will mainly focus on the management of the quarter.
A more detailed overview of the further BID measures in Hamburg will be outlined in a following part of the
report.
The middle part between the Poststraße and the Bleichenbrücke is the clear luxury location on the Neuer
Wall. The names can be read as the Who-is-Who of the international luxury scene and give this part its
special character. The most recent new entry of the Neuer Wall on the corner to the Bleichenbrücke are the
well-established men’s outfitters SØR Rusche, who were advised by CB Richard Ellis in their expansion.
a
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November 2009
In the following, we present the newly designed trader plan of the Neuer Wall between the Jungfernstieg
and the Bleichenbrücke.
Jungfernstieg
Geox 2-6
1-5
Juwelier Wempe
1-5
Douglas
1-5
Porsche Design
Omega 2-6
Hoffmann DOB, Dessous 10
Nespresso 10
Neuer Wall
Vertu 8
Thomas Sabo Schmuck 8
Görtz Schuhe 10
7
M. Frey
9
Mango
11
Ladage & Oelke
13
Jud Buchhandlung
Straßenlauf
Alsterarkaden
Jungfernstieg
Trader Plan Neuer Wall (between Jungfernstieg and Bleichenbrücke)
Neuer Wall
Hamburg
(zwischen Jungfernstieg und
Bleichenbrücke)
Durchgang zu Alsterarkaden
Longchamp Taschen
Campbell Optiker
Mac Kosmetik
Montblanc
18
13
18
15
18
15
18
17
Windsor 20
17
Bottega Veneta 2-4
Cartier 2-4
19
19
Poststraß
Poststraße
Budapester Schuhe 30
Neuer Wall
N
Porzellan W.Weitz 26-28
COS Hugo Boss
Schleusenbrü
Schleusenbrücke
Bulgari 24
Juwelier Waß
Waßmann 26-28
Tumi
Eterna
Calida
Neuhaus Schokolade
Palmers
Tiffany & Co.
25
Wäsche Möhring Puma
25
Max Mara
31-35
Modehaus Unger
ESCADA 32
SØR 36
Massimo Dutti 38
Hermè
Hermès 40
Cravatterie Hamburg 42
Ewige Lampe, Beleuchtungshaus 42
Ermenegildo Zegna 44
Juwelier Sönnichsen 44
Loro Piana 46
Mientus Herrenausstatter 48
La Perla 50
Liz Malraux Design 50
SØR 50
Bleichenbrü
Bleichenbrücke
a
Louis Vuitton
39
Akris
41
Lauré
Laurél
41
Tod‘
Tod‘s
41
Neuer Wall
Neuenwallfleet
37
Salvatore Ferragamo
Neuenwallfleet
43
Jil Sander
43
Wolford
43
van Laack
43-49
Juwelier Mahlberg
Adolphsbrü
Adolphsbrücke
Page 39
November 2009
Gucci 34
In this part of the Neuer Wall, one can still see the original alignment of the Neuer Wall. In the past, it was
known as inner city furniture location. Remembering this “history”, one can still find some national and
international furniture concepts, above all the British-Swedish design furniture concept Habitat. But also
other international furniture retailers can be found here, for instance the French furniture store Ligne Roset
or Bo Concept. A further increase in furniture competence occurred with the opening of the Dutch living
accessories and furniture retailer Rivièra Maison, who are running their first store outside of the Netherlands
here. CB Richard Ellis were advisors in the rental process.
Impressions Outside and Inside the New Rivièra Maison Branch Neuer Wall
Source: Both Pictures: Runway PR GbR
The building structure of the Western part of the Neuer Wall between the Bleichenbrücke and the Stadthausbrücke is clearly dominated by large-scale surfaces. Thus, the tenants and branch mix of this part also
differs from that of the other two micro locations of the Neuer Wall.
a
Page 40
November 2009
It would, however, be unfair to suggest this part of the Neuer Wall concentrates on furniture alone, because
the street has much more to offer. An increase towards more fashion and clothing competence has surely
The Hamburg project developer Momeni is currently developing the mixed-use property Neuer Wall 63 in a
joint venture with its partners Ellwanger & Geiger under the project name “NW 63°”. The Building was purchased by the consortium in spring 2008. The project has a GLA of approximately 9,000 m² and on its
ground floor, three representative retail stores are going to be developed. A glass front of 200 to 400 m² is
planned. The total project volume amounts to approximately 80 million Euros. It is Momeni’s second project
in the Neuer Wall, beside the object Neuer Wall 84.
A Medium-Term New Impulse for the Quarter “Stadthausbrücke”?
Despite the suburban railway station of the same name “Stadthausbrücke”, the outbound Western part of
the Neuer Wall has always suffered from a clearly lower footfall frequency than the Eastern part, which is
situated in the middle of the City West shopping route. The location lacks the necessary urbanistic integration, because a large part of the Northern street front is missing. It is occupied by the large office building
“Stadthausbrücke” and is currently still being used by the department for urban development and environment (Behörde für Stadtentwicklung und Umwelt).
been made due to the so-called “Bornhold-Haus”, with the designers JOOP! and St. Emile opening flagship
stores on the ground floor. The building was developed by the Hamburg project developer Newport and
comprises a total of 10,500 m² of office and retail space.
In the medium term, however, new dynamics could develop particularly in this area, because a Hamburg
project developers, the Quantum Immobilien AG, have purchased the 10,000 m² area from the city of
Hamburg for an estimated 54 million Euros in order to turn it into an attractive city quarter once the public
authority have moved out in 2012. In this project, the historical structure of the building from 1913 should
be maintained in large parts.
The plans for the “Stadthöfe” concept have so far been varied. Thus, the approximately 40,000 m² should
provide room for retail, gastronomy and residential space. In order to liven up the entire quarter, a permanent weekly farmers’ market similar to the Viktualienmarkt in Munich should be established. Additionally,
13,000 m² of residential space, a boutique hotel, and a disco or club should be built. A constructional integration with the “Bleichenhof” passage is also being planned.
The project “Stadthöfe” will not only be appreciated from an urbanistic perspective but also from a retail
perspective, because it will create the necessary urbanistic integration for the entire City West. The affinity
towards retail use will also have a medium-term cumulative effect on footfall frequencies for the Western
Neuer Wall, so that a target customer location might turn into a highly frequented retail location. The same
applies to the opening of the front for retail, because this will create new expansion areas for national and
international retailers.
a
Page 41
November 2009
Concluding, we would like to introduce the trader plan of the Western Neuer Wall.
La Perla 50
Liz Malraux Design 50
SØR 50
Wolford
van Laack
Juwelier Mahlberg
Adolphsbrü
Adolphsbrücke
Neuer Wall
Habitat 54
Interior Bornhold
43
43-49
Marc Cain 52
Tempel
Jil Sander
43
Bleichenbrü
Bleichenbrücke
Ligne Roset
43
Trader Plan Neuer Wall (between Bleichenbrücke and Adolphsbrücke)
64
64
55
Umbau Pomellato
55
55
Alessi
Pashmina
57
Fahnen Fleck
59
Umbau Stefanel
61
Marlies Mö
Möller
63
Umbau
63
Steinbrü
Steinbrück Pelze
63
Umbau
Straßenlauf
Neuer Wall
Hamburg
72
Joop!
80
St. Emile
80
Umbau
80
Neuer Wall
N
(zwischen Bleichenbrücke und
Stadthausbrücke)
Gerda Gregor Brautmoden 84
69
Hästens
BHW
71
Bo Concept
75
A+B+C Moden
Dedon
69
75
Stadthausbrü
Stadthausbrücke
a
77
Samina
77
Riviè
Rivièra Maison
Grasbrü
Grasbrücke
Page 42
November 2009
Baubehö
Baubehörde 86
Neuer Wall
Bürgermeisterplatz
In the North of the Jungfernstieg the Gänsemarkt follows as a central square in the City West. Due to its
triangular shape, the Gänsemarkt has several fronts. In the past, the branch mix was young and mixed with
lots of gastronomy, but has gained a more trendy touch due to the opening of Urban Outfitters in the newly
designed “Opernhof” as well as the new flagship store of the Italian jeans label Replay. Further mass market concepts can be found in the Gänsemarkt Passage. Here, the young fashion concept Elb (Kölner Görgens Gruppe) rented a store of 1,800 m² recently and is therefore supporting the “rejuvenation” of the entire location.
Ju
ng
fe
rn
sti
eg
Gänsemarkt
Hamburg
S
c
hle
mm
5
0
e
rm
Gä
ey
er
n
se
ma
rkt
50
p
a
sa
M
ge
e
rce
50
de
h
T
e
S
le
ch
M
uh
ed
e
ia
O2
en
ad
akl
T ab
e
aß
fstr
rho
e
G
50
Straßenlauf
Trader Plan Gänsemarkt
Bü
s
chs
tra
ße
Ur
ba
nO
u
tfitt
e rs
Gä
nse
ma
rkt
t
ar k
em
s
n
Gä
19
er
eck
rB
e
i
l
e
Juw
cks
bu
tar
S
0
24
00
21e2
m
u
Bl
i
24
ald
21Rin
a
r in
Ma
24
21-
45
44
24
21-
Sta
d
t
b
äc
ker
ei
To
n i&
Gu
y
Fri
seu
r
44
24
te
T a de
Mo
ße
tra
-S
C
AB
33
land
North
ms
T ho nk t
I-Pu
N
y
Repla
ay
Subw
36
ion
il Fsh
Kelw
Valentinskamp
fone
Vo d a
36
36
35
43
Pizza
Ponti
C
o
m
m
e
r
zb
an
k
rkt
sema
Gän
1
30-3
21-
traße
Dammtorstraß
Gänsemarkt – Central Square with Attractive Tenants
a
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November 2009
ABC- and Neue ABC-Straße – Well-Established Upmarket Location in the Heart of the City
West
The ABC-Straße and its “little sister”, the Neue ABC-Straße, are moving in the upmarket area with a touch
of luxury, presenting international names such as Polo Ralph Lauren, Strenesse, BCBG and Chanel beside
well-established local Hamburg retailers in this sub-market. The branch mix of both streets mainly focuses
on high class clothing; however, some international art galleries and antiquaries have also settled here,
clearly enriching the entire location. The street has dominantly small surfaces; many retailers vend on several floors in the historical town houses.
Considering the positioning, both streets can be seen as target audience locations which receive additional
footfall frequencies from the close-by Marriot Hotel. Recently, the re-opening of the Polo Ralph Lauren store
has strengthened the profile of the location. In the following, we introduce the new trader plan of the ABCStraße and the Neue ABC-Straße.
a
Page 44
Generally, the ABC-Straße, the Neue ABC-Straße and the Hohe Bleichen can be subsumed under the name
“ABC-Viertel”. All three streets are an inherent part of the City West and can be seen as clear upmarket
locations.
November 2009
ABC-Quarter – Interesting Quarter and Well-Established Upmarket Location
Straßenlauf
Morgantini 10
N
Neue ABCC-Stra
aß
ße
BCBG 12
Die Hamburger Galerie 10
Nailja Razai Couture
The ABC
ABC--Shop
5 Feldkirchen Outlet
7 Lexington
51
Euro Hypo 13
4
1
Lumas
Cabinet Möbel 19
bocconcino 19
5
Geuen Outlet 19
2-3
Marktex 21
2-3
ABC-Starße
(fü
ür B. Schoenbach)
Umbau (f
Umbau 21
Chanel
Antiques B.c
B.c.. Blume
ABC-Straße
Neue ABC-Straße
Trader Plan
Plan ABCABC-Straße and Neue ABCABC-Straße
Vorplatz
Marriott Hotel
Mariott
Derenbach 9
Hotel
ichen
Hohe Ble
Polo Ralph Lauren 4-8
Strenesse 2
52
e
Starß
ABC-
Unü
Unützer Schuhe 4-8
Koko v. Knebel 4-8
Geuen
52
Uli Schneider 1
52
Huelsmann
Frank Rudolf
52
Couture & Cheap
52
Cutman
Gänsemarkt
Opticon 1
Hohe Bleichen – Project Developments and BID Initiative Bring New Impulses
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November 2009
The third street in the ABC quarter is the Hohe Bleichen, whose extension Heuberg belongs to it from a
retail perspective. The street used to be seen as the access road to the multi-storey car park of the “HanseViertel”, the central shopping gallery of the City West, and was thus not able to attract many national and
international retailers.
“Due to the numerous BID initiatives, the streetscape of the City West has clearly
changed. The Neuer Wall, and in particular the Hohe Bleichen, have clearly gained quality of stay and flair through these measures.
Rentals from Rivièra Maison (Neuer Wall), Etro or Gosche show that the new image is being received positively. We are experiencing an increased demand for
this location from retailers. In the end, this also inures to the benefit of project developers and/or property owners.”
However, by means of various initiatives, the streetscape of the Hohe Bleichen has clearly changed in the
recent past. This has turned the street into a serious alternative in the City West particularly for national and
international retailers who have not yet been able to open a store in the neighbouring streets Neuer Wall
and Poststraße.
Jens Wehmhöner, Senior Consultant und Prokurist in Hamburg bei CB Richard Ellis unterstreicht:
The upgrading of the Hohe Bleichen was initiated through a series of project developments. The project
development companies gradually revitalized the partially historical “Kontorhäuser”. Their starting point was
the revitalization of the commercial building Hohe Bleichen 10, in which the first restaurant of the German
restaurant chain Vapiano opened up. Through this “jump start”, a constant change of tenants was triggered. Around 2/3 of the original tenants in the Hohe Bleichen were “replaced” by regional or international
concepts, which have clearly upgraded the location.
Further project developments were the commercial buildings 17 and 19, which were revitalised by several
project developers between 2006 and 2008. The Italian bag manufacturer Brunello Cucinelli has recently
rented a branch in the “Kontorhaus” Hohe Bleichen 17 which was built by Cogiton.
The currently active project development is the commercial building Hohe Bleichen 7, which is being developed by the international investor Carlyle Group. The object with an investment volume of around 80 million Euros celebrated its topping out ceremony and was able to bring three new tenants at once into the
street. The exclusive Hamburg outfitter Gosche, the Italian accessories and leather goods dealer Etro as well
as the Hamburg shoe retailer “der gesunde Schuh” moved into the so-called “Freshfields-Haus”, a further
engagement of Carlyle in the City West apart from the “Opernhof” at the Gänsemarkt. Etro started a shop
concept with two parts for the first time worldwide, offering ladies’ as well as men’s fashion separately. The
“Freshfields-Haus” got its name from the international law firm which is set as the main tenant of the office
spaces, and has recently been sold by the Carlyle Group to the Deka Immobilien GmbH.
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November 2009
The project developments and the connected rentals of well-known international and strong regional concepts (Linette, Dibbern) have clearly increased the quality of the Hohe Bleichen. In parallel with the project
developments, local businessmen and property owners joined to form the BID “Hohe Bleichen – Heuberg”,
which has transformed the street from an “access road” into a commercial boulevard with broadened
pavements, attractive street furniture and greening (evergreen arbor vitae). In the following, we would like
to give an impression of the Hohe Bleichen.
Impression Hohe Bleichen
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Page 47
November 2009
In the following, we present the new trader plan of the Hohen Bleichen.
Straßenlauf
Polo Ralph Lauren
ABC-Straße
Porzellan Derenbach
Poststraße
25
25
Marco Hops
23
Prada
21
Dibbern
19
Ludwig Reiter
19
Brunello Cucinelli
17
17
Die Bank - Brasserie
17
Huelsemann
15
Petra Teufel
13
Neubau
11
aße
Amelungstraß
28
Filippa K.
26
Oschä
Oschätzchen
24
Flamant
22
Hohe Bleichen
Waltraud Bethge
Linette
N
Hohe Bleichen
Hamburg
Steen Antiquitä
Antiquitäten
ABC Buchladen
Einfahrt Parkhaus
12-16 Büro
10
Etro Woman
7
Etro Man
7
Trader Plan Hohe Bleichen
1
Vapiano
Felix Restaurant
Broscheks Restaurant
Secondella
a
He
ub
er
g
Renaissance Hotel
5
Page 48
November 2009
Argentum
5
Hamburg is “Home of the BID” – no other city analysed by CB Richard Ellis comes up with such a high density of BID initiatives as Hamburg. The BID initiative “Sachsentor” in Hamburg Bergedorf, the first BID on
German grounds, and the BID “Neuer Wall”, the BID with the most national and international attention,
were the jump start for the retail-based urban development, which has up until now led to an upgrading of
the respective quarters in every case.
And further BIDs will follow. The already mentioned BID “Nikolai-Quartier” should make the historical
quarter around the Nikolai church and the Große Burstah shine in new splendor. The BID “Hohe Bleichen –
Heuberg” has also had the desired effects.
From a retail perspective as well as from a real estate perspective, the quarter developments are highly
appreciated because they improve the quality of stay as well as the potential increase in footfall frequencies.
Due to the improved entrée to a property a new value enhancement potential is created, particularly in the
course of a systematic project development before or during a BID initiative.
Business Improvement District – Not Only the City West is getting a New Image
Heiner Schote, Assistant General Manager for the area of trade in the chamber of trade Hamburg will give
an overview of the current BID in Hamburg, as was already done in the report from 2008. In the following,
we will provide an extensive list of the current BID developments in Hamburg.
Heiner Schote – Assistant General Manager for trade in the chamber of trade Hamburg underlines:
“The Neuer Wall has demonstrated how one can turn a very good retail location into an excellent one. The Hohe Bleichen are following this example by
also founding a Business Improvement District (BID). Further BIDs are being
prepared in the Nikolai-Quartier, at the Opernboulevard and in other inner city
locations, so that we will be able to present an entirely new City West within a
few years.
a
Page 49
November 2009
We are observing a very strong interest from retail, real estate and the property owners in the new instrument of Business Improvement Districts (BIDs) in the whole of Hamburg with the result that private
funds for the design of the public space and thus for the strengthening of the City and the city district
locations are being spent on a large scale.”
BID
Alte Holstenstraße
Hohe Bleichen
Lüneburger Straße
Neuer Wall
Budget
(in Euro; only
private funds)
Duration (start)
Operator
330,000
3 years
(2009)
WSB Wirtschaft und Stadtmarketing für die
Region Bergedorf e.V.
1,947,500
2 years
(2009)
Zum Felde GmbH, Hamburg
548,000
3 years
(2009)
Konsalt Gesellschaft für Stadt- und Regionalanalysen und Projektentwicklung mbH
5,966,000
5 years
Otto Wulff Bauunternehmung GmbH & Co KG,
Hamburg
(2005)
Sachsentor I – completed
150,000
3 years
(2005)
Sachsentor II
600,000
5 years
(2009)
Wandsbek Markt
3,990,000
5 years
(2008)
Otto Wulff Bauunternehmung GmbH & Co KG,
Hamburg
Alte Holstenstraße
330,000
3 years
(2009)
1,947,500
2 years
(2009)
Zum Felde GmbH, Hamburg
Hohe Bleichen
Source: Chambre of Commerce Hamburg, Stand: 5.11.2009
Overview BID Developments in Hamburg (Nov. 2009)
Gerhofstraße – The Young Mile in the City West
The Gerhofstraße, the interconnection of the Gänsemarkt and the Poststraße, can be seen as the “young
mile” of the City West. Along its curved route, mainly mass market and upmarket labels such as Mexx,
Karen Millen, Marc O’Polo, Hennes & Mauritz or Esprit are strung together. The latter run a flagship store
here in an exposed location to the Poststraße. Thus, the street clearly differs from the positioning of the City
West as a sub-market with top level and luxury orientation and thus strengthens the young fashion and
casual wear competence of the City West.
Attracted by the radiance of the street, the British accessories and costume jewellery label Monsoon Accessorize have recently rented in the Gerhofstraße. Despite its shortness, the street offers quite a varied range
of spaces so that all sizes are available. National and international retailers can find interesting starting
points for an expansion here.
a
Page 50
November 2009
In the following, we present the trader plan of the Gerhofstraße.
t
ark
sem
n
Gä
Peters Tabak
40
Häaganagan-DazsDazs-Eis
40
Goldene Zeiten Juwelier
Becker Juwelier 29-31
e
r aß
t
s
f
rho
Ge
40
Mobilcom 29-31
40
Lolli Geschenkartikel
E-Plus
36-38
36-38
Gerhofstraße
Hamburg
Monsoon Accessorize
The Phone House
36-38
L‘Tur Reisen 25
Straßenlauf
T-Punkt
40
Tchibo 19
Karen Millen
32
N
Cioccolata
1-3
Eiscafé
Eiscafé
Mexx
Trader Plan Gerhofstraße
La Prego Ristorante
32
1-3
16-18
Benetton
16-18
Marc O‘Polo
Esprit
Po
sts
tra
ße
1
Gerhofstr
aße
Hallhuber 1-3
10-12
Hennes & Mauritz
2-8
The Body Shop
2-8
Vodafone
2-8
Eye Catcher Brillen
Poststraße – The Trendy Location in the City West
a
Page 51
November 2009
Apart from the Jungfernstieg, the Poststraße is the only street which stretches out through the entire City
West from the North to the South. Therefore, the street is of particular significance. Due to its length there is
no clear positioning, even though the streetscape is dominated by retailers from the upmarket and top level
area. Trend and fashion labels that can be found here are, among others, Diesel, Tommy Hilfiger and also
COS and Hugo Boss.
The least frequented part of the Poststraße is to date the part to the North of the Gerhofstraße. Here, the
street has not been able to achieve a clear positioning, so that frequently changing tenants dominate the
streetscape. Due to the continuous upgrading of the ABC-Viertel, however, this part of the Poststraße has
now also gained importance and will probably be geared to the branch mix of the ABC-Viertel and continue to develop positively.
“Alte Post” – New Magnet for the Poststraße?
A new magnet effect in the Poststraße will arise from the redevelopment of the so-called “Alte Post” (old
post office). The former post office building and telecommunications office is currently being reconstructed
and has been bought by an investor consortium consisting of the alstria office REIT-AG, the Stenham Property Ltd. and the Hamburger Quantum Immobilien AG.
The two strongest parts of the Poststraße are located around the Neuer Wall and the crossing to the Große
Bleichen. Around the Neuer Wall, the Poststraße places itself particularly in the upmarket area; around the
Große Bleichen, one can find rather young and trendy labels. The entrances to the “Hanse-Viertel” are also
located in the latter part.
The historical building comprises approximately 4,600 m² rental space which should be used for retail and
offices. According to the plans of the consortium, a total of four to eight stores should be created which will
significantly increase the sales spaces of the Poststraße. Thus, an additional magnet effect is being created
for the Poststraße.
The prominent tower which is typical of the building, as well as the historical façade should be preserved,
because they always have and still are attracting tourists due to their architectural value. According to
statements of the investors, the investment volume is set at approximately 75 million Euros. In order to enable the visitors to stroll along the street and to create additional urbanistic flair, the historical balustrades
will be reconstructed and will be completed by the end of 2011.
In the recent past, international shoe concepts have been discovering the Poststraße. First the mallorcan
shoe manufacturer Camper (young, trendy) opened up a concept store. In the near future, the Swiss shoe
label Navy Boot (classic, conservative) will follow and open up a store. Camper were advised by CB Richard
Ellis on the opening of their first flagship store in Hamburg.
Due to the length and the varied branch mix, the Poststraße offers an attractive expansion goal for national
and international retailers. Due to the development of the “Alte Post”, new sales area will be on the market
in the medium term, which will strengthen the entire street. A change towards a clear luxury location is currently unlikely, but trendy and more top level orientated concepts have multiple starting points for expansions and representation in this area.
a
Page 52
November 2009
On the following page, you will find the current trader plans of the Poststraße.
Straßenlauf
Poststraße
Hamburg
Feldenkirchen 51
Kunst & Antiqitä
Antiqitäten Korte 51
Area 51 Feldenkirchen 51
20
Feldenkirchen
Esprit
39
Antonio Friseur
N
Umani
39
noon Friseur
37
Closed
37
Timberland
35
Falke
33
G
er
ho
fst
ra
ße
Speak EasyEasy-The Denim Bar
22
Schmoeller
Poststra
Poststraß
ße
H
oh
e
36 Barbiere Friseur
36 Antiquitä
Antiquitäten Dr.
36 Umbau
Po
sts
t
r
aß
e
Bl
ei
ch
en
Polo Ralph Lauren
Filippa K. 53
AB
CSt
ra
ße
Trader Plan Poststraße
Eingang Hanse Viertel
Optiker Carl
29
Heldmann
Charlotte
Prignitz Boutique
25
25
25
The Body Shop
Eye Catcher
Vodafone
14-16 Diesel
14-16 Graphik
Kabinett
Comma 21-23
14-16 Tommy
Hilfiger
Eingang Hanse Viertel
Tom Tailor 13-15
Groß
Große Bleichen
a
12
Réza Accesoires
Eingang Hamburger Hof
12
Görtz 17
Groß
Große Bleichen
Page 53
November 2009
Roeckl 13-15
Poststra
Poststraß
ße
Stefanel 17-19
Groß
Große Bleichen
Groß
Große Bleichen
Projektentwicklung Alte Post
Straßenlauf
H&M
8
Poststraße
Hamburg
Camper
8
19
Alsterhaus
8
Eye Catcher
Trader Plan Poststraße
Bei der Stadtwassermü
Stadtwassermühle
Zara
6a
N
Fleet
Fleet
Florence Moda
1-7
Paulsen Süß
Süßwaren
üßwaren
1-7
Bulgari Juwelier
24
2-4
Juwelier Niessing
2-4
Annikki Karvinen
2-4
Rosenthal Studios
2-4
Cartier
Neuer Wall
Möhring Wäschehaus 25-31
Puma
1
Poststra
Poststraß
ße
Neuer Wall
19
COS
19
Hugo
19
Hugo Boss
Alsterarkaden
a
Page 54
November 2009
The Großen Bleichen are an example of the change in retail. In the past, the street that runs parallel to the
Neuer Wall used to be the first address in Hamburg for luxury retailers. But because concepts are usually
not made to last forever and underlie the change of consumer buying habits, this location has also
changed its streetscape.
Today, the location presents itself rather in the mass market, upmarket and top level area which, however,
is typical for the City West. The area between the Jungfernstieg and the Poststraße is rather orientated
towards mass market with its casual wear retailers, the part between the Poststraße and the Hohe Bleichen
has a rather top-level retail supply.
The brand mix is rather varied. It ranges from the young fashion retailer Olymp & Hades, a concept of the
Kölner Görgens Gruppe, Tom Tailor and Hennes & Mauritz to top level retailers such as Uli Knecht or
Golfino. The highlight of the street is certainly the monolabel store by Stuart Weitzmann, the US American
shoe label which runs its only store in Germany here. The Große Bleichen could win the Japanese department store Muji as its youngest new entry, who will be opening a store on 360 m² here.
Große Bleichen – Varied Branch Mix between Jungfernstieg and Hohe Bleichen
Due to the diversity in the branch mix, regional, national and international retailers can find starting
points here in the described genres. In the medium term, the described development of the “Alte Post” will
also result in an impulse effect for the Große Bleichen.
a
Page 55
November 2009
On the following page we will present the new trader plan for the Große Bleichen.
g
Jungfernstie
Juwelier Bucherer
Gerry Weber
Jo Malone
8
Hansen Schmuck
8
Basler Mode
8
Golfino 10
1
Schuh Bä
Bär
3
Dresdner Bank
Olymp & Hades
5-7
Mephisto 12-14
1.2.3. 12-14
Cha Chà
Chà Restaurant
Straßenlauf
Große Bleichen
Hamburg
12
Trader Plan Große Bleichen
Alsterhaus
12
Poststraß
Poststraße
Tom Tailor 13-15
H&M
oß
ße Bleichen
Gro
Görtz 17
Poststraß
Poststraße
Projektentwicklung Alte Post
Thalia Bü
Bücher
19
N
Eingang Hanseviertel
Enoteca Spitituosen 13-15
21
Liedloff
21
Aveda
Eingang Galleria
Steen Damenmoden
Neubau
32
34
23-27
Lubner Duft & Seife
23-27
Ohnsorg Café
Café
23-27
Ohnsorg Theater
Hanse CD
36
23-27
Stuart Weitzmann
Schacht & Westerich
36
23-27
Uli Knecht
Eingang Hanseviertel
31
Apotheke
Duske & Duske
36
31
Umbau Muji
Restaurant Broschek
36
31
Butlers
Eingang Kaufmannshaus
Heuberg
a
36
Haus Hamburg
31
Crabtree & Evelyn
31
Kuczkowsky Pelze
Bleichenbrücke
Page 56
November 2009
Renaissance Hotel
31
The relatively short Bleichenbrücke between the Große Bleichen and the Neuer Wall is a clear target audience location which moves in the top level branch mix. Recently, CB Richard Ellis advised the local optician Böcker & Schursch as well as the men’s outfitter SØR Rusche in the interchanging of their stores. Due
to the small number of sales areas, the overall amount of rental activities is rather small, but the location
establishes itself more and more as a connection between the Neuer Wall and the positively developing
Hohe Bleichen, which will bring additional footfall frequencies into the location.
Straßenlauf Bleichenbrücke
Straßenlauf
Bleichenbrücke
Hamburg
Groß
e Ble
ichen
Bleichenbrücke – Target Location between Große Bleichen and Neuer Wall
11
Schatulle
11
Kosmetik
11
Kaiserwetter
11
Flori Cultura Blumen
11
Kamps
11
Walter Steiger
11
Bleichenbr
Bleichenbrü
ücke
Groß
Große Bleichen
Wohngefü
Wohngefühl
10
Kukzkowski Pelze
10
Galerie Mensing
10
Spanien Import
10
Balzac Coffee
10
Acne Jeans
10
Florsheim Schuhe
10
Böcker + Schursch
Fleet
N
Fleet
G-Star
7
Taschen
5
Belle Vue Optiker
Marc Cain
2
Bang & Olufsen
2
Jacadi Kindermoden
3
52
50
SØR
Neuer Wall
a
Page 57
November 2009
The Colonnaden lie behind the hotel Vier Jahreszeiten. They have been named after the historical arcade
alleyway which stretches out along the entire street. Due to the attractive building structure and the traffic
calming, this is a city quarter that is second to none in the Hamburger City.
The streetscape is dominated by small specialized stores and owner-run boutiques, supplemented by appealing gastronomy as well as small local supply concepts. Therefore, the proportion of multiples is relatively low, which makes this street unique in Hamburg’s city.
The Colonnaden are divided into two parts. The Southern part between the Neuer Jungfernstieg and the
Große Theaterstraße is dominated by small specialized stores which generally attract target customers. The
Northern part between the Große Theaterstraße and the Esplanade is dominated by gastronomy. Outdoor
seating is possible in the pedestrian zone, which can be seen as a distinctive characteristic in Hamburg’s
city.
Despite the proximity to the Jungfernstieg, the Colonnaden have preserved an attractive kind of seclusion
because the arcades and the calmness in the street give the impression of a closed quarter which seems to
lie outside the hustle and bustle of the remaining City West.
Colonnaden – Attractive Arcade Alleyways as Interesting Alternative
Despite the “tranquility”, interesting rentals and openings have taken place in this area, particularly in recent times. The latest new entries are the men’s outfitter Cove & Co as well as an exclusive shoe store of the
Hamburg fashion retailer Ladage & Oelke. Additionally, a store by Brigitte von Boch has recently opened
up here. The Lüneburg retailer Outdoor König has also settled here and is strengthening the outdoor competence of the location and drawing new target customers into the Colonnaden.
The highly attractive urbanistic ensembles as well as the small surfaces in the buildings give the Colonnaden
as a city quarter a high potential for a positive future development. Due to the varied surroundings, it is
possible that a very attractive quarter will develop here.
Therefore, the Colonnaden are an interesting option in the City West, which offer regional, national and
even international retailers a possibility for expansion, particularly against the background of the still clearly
lower rent level compared to the remaining City West.
a
Page 58
November 2009
In the following, we would like to introduce the trader plans of the Colonnaden.
Esplanade
Straßenlauf
Esplanade
Colonnaden
Hamburg
51
Schilder, Schlü
Schlüssel, Messingwaren
Senzera
104 Papier & Feder Schreibwaren
104
104
Schuhmacherei Colonnaden
45
Stadtkrug
45
43
Café
Café Pasteleria Caravela
43
41
Black Bean Coffee Company
39
Colonnaden Teekontor
39
Linnhus Natural Fashion
37
Theaterkasse Schuhmacher
37
Restaurant Tiffany
37
Gr
oß
eT
he
ate
rst
ra
ße
a
104
Vergolderei Rüsch
96
Bücher Coló
Colón
96
Sabine Wiedenhaus
96
Foto Colonnet
72
Trittmacher Blumenbinder
72
Kosmetik Studio Permanente
72
American Boots
72
Restaurant Il Castello
72
Reisebü
Reisebüro Weissenborn
72
Vitalotheke
N
47
Anke Baumgarten
Fischgeschä
Fischgeschäft
47
Ristorante Da Donato
Cup & Cino
104
70
Porzellanmalerei
70
Briefmarken/Mü
Briefmarken/Münzen
70
Goldwaren
68
Schere & Schnitt Schneiderei
Mitra Schmuck
Antiquitä
Antiquit
äten
68 Tabak Corner
68
68
Fe
hla
nd
tra
ße
Pronta Moda
49
Colonnaden
Hamburger Fischerstube
Page 59
November 2009
Bosch Lifestyle & Services
Trader Plan Colonnaden (between
(between Esplanade and
and Große Theaterstraße)
Trader Plan Colonnaden (between Große Theaterstraße and Jungfernstieg)
Straßenlauf
Gr
oß
eT
he
ate
rst
ra
ße
Große Theate
rstraße
1
Trekking Kö
König
Kresse Damenmode
Crossfords
25
19
Colori Stoffe
Butlers
Games Workshop
15
15
Classico Due
13
Brigitte von Boch
9
2001 Bü
Bücher
9
Sushi Circle
5
Wein Zwei Drei
5
Lepolds
3
KA Internationale Stoffe
3
Pfandkredit Johannsen
58
Weinhandel Der Bocksbeutel
54
Tantus Photo Galerie
54
Choco Monde
46
Schattenschneider Bandagen
36
36
Abrahams
Colonnaden Apotheke
30
Auktionshaus
26
Juwelier E. Arnold
15
Hanseatische
Schmuckbö
Schmuckbörse
a
Colonnaden
Eiscafé
Eiscafé
58
21
21
Optiker Bode
Bäckerei Allwö
Allwörden
Franziskaner Restaurant
9
29
X-tratra-Art
N
14
1
Bü
sc
hs
tra
ße
Sushi Factory
Balzac
24
Briefmarken Barthel
22
Goldstü
Goldstück
18
Lunge Sportschuhe
18
Cove & Co.
10
Pfeifen Tesch
5
Starbucks
1
1
Page 60
November 2009
Balzac Coffee
Colonnaden
Hamburg
Philipp Hass, head of retail agency in Hamburg for CB Richard Ellis clarifies:
“In 2008/2009, the Hamburger City has proved itself as virtually resistant to crises and could clearly come up with more rental activity than in the previous
years. The most recent proof for the confidence in Hamburg’s retail market is the
trade fair MAPIC in Cannes which has just taken place. New applications of new
concepts are on hand for Hamburg (market entry in preparation).
A constant rental business in the prime locations of the City East and City West
can also be expected in the future, because the demand for spaces clearly exceeds the supply. Due to the overall economic market environment, however,
significant increases in rentals are not to be expected.”
Hamburg – Constant Demand on an Active Rent Market
Hamburger City – Active Rental Market despite Signs of Crisis
Hamburg’s rental market can look back on a very good year. In the reference period (nov. 08 – nov. 09), a
total of 33 rentals and openings were counted in Hamburg’s city centre. A total of 23 completed contracts
occurred within the prime locations, while the 1B locations received 10 rentals.
Taking a closer look at the rentals, you can see a clear concentration of rental activity in the City West.
Here, a total of 16 completed contracts could be counted, more than twice as many as in the City East,
where 7 rentals and openings were reported.
In the City West, the rentals concentrated on the Neuer Wall and the Hohe Bleichen. With 5 rentals, the
Neuer Wall heads the list of the most active streets. The most recent rental of the Kölner Taschen Verlag,
who opened a concept store on the ground floor of the mixed-use property Neuer Wall 52/Bleichenbrücke
5 should be highlighted. The luxury competence of the Neuer Wall was once more strengthened by the
opening of the Italian jeweler Pomellato (Neuer Wall 55).
With four rentals, the Hohe Bleichen comes second. The opening of Etro, who are selling men’s and
women’s fashion in separate stores as well as the opening of Brunello Cucinelli are certainly highlights
here. Both openings underline the importance of the Hohe Bleichen as an up-and-coming top level location
which has clearly gained quality of stay through the BID.
In the City East, the Mönckebergstraße has clearly taken the lead. This applies not only for the number of
rentals (four contracts were closed here), but also for the enrichment of the retail landscape. The city has
gained new, trendy highlights with the openings of the Hennes & Mauritz concepts Monki and Weekday.
a
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November 2009
Due to the multitude of sales areas and project developments, the City West was clearly more dynamic than
the City East. A part of the demand in the City East was also partially absorbed by the “Europa Passage”.
With the “newcomers” on Hamburg’s retail market, the proportion of multiples is also rising in the respective locations in the Hamburger City. Due to the high rents in the prime locations of the Hamburger City,
local and owner-run retail concepts find it increasingly hard to present themselves in these locations. Solvent
national and international chains clearly have the advantage of the “masses”. In the following table, the
current proportion of multiples in selected locations of the Hamburger City is shown.
Proportion of Multiples Hamburger
Hamburger City
Street
Sub-market
Number of stores
Of which non-
Proportion of multip-
multiples
les in %
Mönckebergstraße
City East
69
2
97
Spitalerstraße
City East
47
1
98
Neuer Wall
City West
84
11
87
Jungfernstieg
City West
44
5
89
Gerhofstraße
City West
23
3
87
Poststraße
City West
56
3
95
Hamburger City – The Proportion of Multiples is Rising
Hamburger City = Fashion in the City – Fashion Retailers are the Largest Group of Expansionists
In Northern Germany, the Hamburger City is the clear competence for all fashion genres. This position
could even be strengthened during the reference period. In the past year, the fashion dealers were the largest group of expansionists on Hamburg’s rental market.
Thus, this group managed to achieve a total of 8 contracts in the prime locations of Hamburg’s city centre.
If one counts sectors with an affinity to clothing, such as accessories, luxury goods (in most cases clothing)
and shoes, the number even rises to 15 contracts. This is a clear indication for the high significance of the
Hamburger City for national and international fashion retail.
a
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November 2009
Expansionist groups such as telecommunication providers or also gastronomy chains, which used to be
strong in the past, have played a rather subordinate role in the last year. In the case of telecommunication
and mobile phone providers, the “gold rush” of 2007 and 2008 seems to have started to decline for the
first time. Central stores (Advertising space) were already occupied by own concepts and/or the competitors,
so that the small amount of available spaces is decelerating the demand and the expansion pace.
Nachfolgende Graphik zeigt noch einmal die gesamten Nachfragergruppen im Überblick.
Running
Running Deals nach Branchen Hamburger City 2008/2009
O pti ci ans
1
Bake r y
1
Juw l e r y
1
Erfreulich ist die Wiedererstarkung des Buchhandels, einem Nachfragesegment das in 2008 nicht nur in
Hamburg eher durch Zurückhaltung auf dem Vermietungsmarkt aufgefallen war. Im Falle der Hamburger
City waren vor allem ein lokaler Buchhändler und ein neues Verlagsbuchhandlungskonzept die Nachfrager
auf dem Markt, ein Zeichen dafür, dass nicht nur Flagship-Buchhandlungen auf dem Markt bestehen können.
Inte r i e ur s
1
F ashi on
8
S hoe s
2
A cce ssoi r e s
2
Lux ur y
3
Bookshops
2
The high level of activity on the rental market in Hamburg’s city centre shows once again that the expansion
of national and international retailers depends on long-term strategic location decisions rather than current
economic insecurities. Due to the limited availability of spaces and long-term tenancy agreements, the possibilities for rentals in the prime locations are rare so that many retailers cannot pass up a golden opportunity to rent a vacant space that meets their needs and expectations.
a
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November 2009
The following table presents an overview of the previously mentioned running deals.
Running Deals Hamburger City 2008/2009
Name
Street
Size
concept
Böcker & Schursch
Bleichenbrücke 10
130
Optician
Taschen
Bleichenbrücke 2
100
Bookstore
Elb (Görgens Group)
Gänsemarkt (Gänsemarkt-Passage)
Monsoon Accessorize
Gerhofstraße 36-38
100
Accessories
Muji
Große Bleichen 31
360
Fashion
Boysen + Mauke oHG
Große Johannisstraße 19
390
Bookstore
Brunello Cucinelli
Hohe Bleichen 17
130
Luxury
Etro
Hohe Bleichen 7
380
Luxury
Gosche
Hohe Bleichen 7
250
Luxury
Levi's
Jungfernstieg 26
400
Fashion
Monsoon Accessorize
Mönckebergstraße
100
Accessories
Monki (Hennes & Mauritz)
Mönckebergstraße 22
860
Fashion
Weekday (Hennes & Mauritz)
668
Fashion
Calvin Klein (Warnaco)
250
Fashion
SØR Rusche
Neuer Wall 50
490
Fashion
Pomellato
Neuer Wall 55
230
Jeweller
Rivièra Maison
Neuer Wall 77
520
Living accessories & furniture
St.Emile
Neuer Wall 80
460
Fashion
Camper
Poststraße 8
60
Shoes
Navyboot
Poststraße 2-4
500
Shoes
Chiquita Fruitbar
Spitalerstraße
25
Gastronomy chain
1,800
Fashion
Hamburger City – Constant Demand on a High Level
The current demand for retail spaces in the prime locations of the Hamburger City is unchanged. Currently,
solvent national retailers in particular form the largest expansionist group. However, international retailers
also selectively show large interest in the German and Hamburg market.
a
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November 2009
A will to expand at any cost, however, cannot be seen as strongly as in the previous year anymore. This also
affects the readiness to pay key money (compensation payments to previous tenants). This has clearly ceased, because national and international retailers test the locations and the rentals of shops longer and more
One can still assume stable rents in the prime locations of Hamburg due to the fact that the constantly high
demand does not meet the according (space) supply. At the same time, the value enhancement potential in
the prime locations seems to be exhausted in the current market environment, so that one should not expect
an extraordinary increase in rent levels.
Wie im Hamburg Report von 2008 verzichten wir auch an dieser Stelle auf die Angabe einer Spitzenmiete,
da die empirische Grundlage für die Erhebung einer solchen Zahl meist fragwürdig ist. Die vermieteten
Objekte unterscheiden sich nach Lage, Objektqualität und Zuschnitt mitunter deutlich. Die jeweiligen Nutzer
kalkulieren ihre Standorte jeweils unterschiedlich (sei es als reine Verkaufs-, Präsentations- oder Werbefläche), so dass die Angabe von Mietspannen sinnvoller scheint. Die genannten Mietspannen beziehen sich
auf ein „ideelles“ Ladenlokal mit einer Verkaufsfläche von 100 m² und einer Schauerfensterfront von fünf
Metern in einer absoluten Top-Frequenzlage.
intensively. The readiness to willingly pay key money is only given when the specific concept is under a considerably high expansion pressure and/or a 100 % sales area is available for the concept.
Mietspannen Einzelhandelslagen in der
der Hamburger City
Street
Location
Rent in €/m²
Type of Location
Mönckebergstraße
City East
200 – 220
Mass market
Spitalerstraße
City East
200 – 220
Mass market
Jungfernstieg / Gänsemarkt /
Alsterarkaden
City West
120 – 150
Mass market / upmarket
ABC-Straße / Neue ABC
City West
60 – 90
Neuer Wall
City West
180 - 200
Luxury
Poststraße / Gerhofstraße
City West
130 - 160
Mass market
Große Bleichen
City West
130 - 160
Upmarket
Colonnaden
City West
50 - 60
Upmarket
Rathausmarkt / Bergstraße
City East
60 - 100
Mass market
Bleichenbrücke
City West
90 - 120
Upmarket
Upmarket
Straße / Hohe Bleichen
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In Hamburg the Karolien-Viertel with the Marktstraße and the Schanzenviertel with the Schanzenstraße and
the Schulterblatt have established themselves as alternative locations with small to medium sized designer
shops, sportswear concepts, goldsmiths and other creative retail which reflects the trends of tomorrow to a
certain extent. The monthly rents lie between 20 and 30 € per m².
Trends in the Sponti-Viertel – Trend Location in Development?
The Schanzenviertel is currently being monitored by chain concepts. The first international chain settled here
in 2007; American Apparel opened a store in an exposed corner location (Schanzenstraße/Schulterblatt).
Two further mono brand stores are situated on the Schanzenstraße: one store from Hummel and a shop of
the bag retailer Crumpler.
Die zunehmende Popularität des Quartiers spiegelt sich auch in den dezidierten Anfragen von internationalen Filialisten wider, die gezielt mit ihren Konzepten solche Szene-Locations suchen. Jüngster Neuzugang ist
ein Franchise-Store von Adidas Originals. Weitere Stores dieser Art werden im Bereich des Schanzenviertels
folgen. Hier schreckt man auch nicht vor eventuellen Protesten der leicht reizbaren Anwohner zurück, die
sich regelmäßig gegen die Kommerzialisierung des Viertels zur Wehr setzen.
The Schanze and the Karolien-Viertel – Trend or Colour Bomb – That is the
Question
Impression KarolienKarolien-Viertel
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Source: Photo: www.mediaserver.hamburg.de/C.Kalk
Apart from the Hamburger City, Hamburg also offers a variety of lively and attractive city district locations.
In total there are eight city district locations in Hamburg, moving mostly in the mass market and local supply area. The city district locations in Eppendorf and Winterhude are exceptions, as they also move in the
upmarket area.
The city district locations serve customers in the respective city districts. However, due to the high density of
population and the catchment area of Hamburg, the city district locations can also be seen as “efficient”
medium-sized or large cities form a retail perspective. As an example, 280,000 people live in the district
Hamburg Nord. Similar facts count for the municipalities Bergedorf (approx. 119,000) and also Altona
(approx. 245,000).
We would like to introduce three city district locations as positive examples and show you the characteristics
of the locations.
The City District Locations Hamburg – Traditional Market Places with Chances
Eppendorfer Baum / Eppendorfer Landstraße – The Distinguished Location in the Centre of
Hamburg
Only approximately 6 kilometres outside the Hamburger City lies the probably most distinguished and also
most friendly and familiar city district location of Hamburg. Hamburg Eppendorf belongs to the municipality
Hamburg Nord. The city district location Eppendorf encompasses a total of two streets, the Eppendorfer
Baum and the Eppendorfer Landstraße. The so-called “Eppendorf Centrum” also lies on the Eppendorfer
Landstraße, which was developed on the grounds of the former Karstadt department store and whose main
tenants are, among others, TKMaxx, Christ, Fielmann, the Hamburg drugstore Budnikowsky as well as Starbucks.
The city district location is situated in the wealthiest middle- and upper-class district of Hamburg, which can
also be seen when looking at the branch and tenants mix. As opposed to other Hamburg city district locations, Eppendorf has developed a well-established upmarket location in addition to the usual local supply
mix. This is a clear unique selling point in the city district location. Similarly positioned city district locations
in the cities analysed by CB Richard Ellis can be found, for instance, in Cologne (Dürener Straße) or in Dusseldorf (Luegallee).
The Eppendorfer Baum and the Eppendorfer Landstraße are remarkably long for a city district location.
Both streets together encompass a total length of 2.5 km. Thus, there is plenty of space in which an intact
and attractive retail landscape could develop.
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The Eppendorfer Baum can be seen as the upmarket location of the quarter. In the small stores, owner run
boutiques, delicatessen shops as well as national and international fashion chains are strung together and
are canvassing the wealthy customers. The Hamburg fashion label Closed, which was founded in Eppendorf, is represented twice on the Eppendorfer Baum. The German upmarket casual wear label Marc O’Polo
is also represented at the location with a branch. Cafes and restaurants loosen up the streetscape and invite
the customers to stay.
The newest rentals in the city district location were the two living accessories and decor providers Butlers
(Eppendorfer Baum) and Das Depot (Eppendorfer Landstraße). Both concepts have recognised the (turnover) potential of the street and thus are adding to the entire retail supply in Eppendorf.
Eppendorf offers regional and national and, with reservations, also international concepts a variety of starting points for expansions because, due to the small sections in the buildings, enough spaces are available.
Depending on the genre and/or positioning of the concept (mass market/upmarket), both streets offer the
possibility to present products to a wealthy audience. Due to the relatively high rent level, considering the
fact that it is a city district location, both streets can also be interesting for specific project developments. The
redevelopment of the old Karstadt department store into the “Eppendorf Centrum” can be called on as a
positive example.
The Eppendorfer Landstraße, on the other side, is rather orientated towards local supply, but owner run,
high class boutiques can also be found here. They take turns with supermarkets, organic food shops and
drugstores, the classic local supply segments. The proportion of multiples is comparably low. German
chains such as Douglas or Tchibo but also coffee shop concepts such as Balzac or Starbucks, however, can
also be found here.
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In the following, we would like to introduce the current trader plans of the Eppendorfer Baum and the Eppendorfer Landstraße, in order to clarify the differences of the two streets as shopping locations.
Trader Plan
Plan Eppendorfer Landstraße I
108 Edeka
106 Millions & Millions
102 Otto F. Koch
102 Samt & Sonders
102 Obst & Gemü
Gemüse
Straßenlauf
Eppendorfer
Landstraße
Hamburg
100
100
Balzac
Bio Markt
98 La Cigale
98 Kamps
96
Lotto Toto
96
96
Eis Schmidt
Shop 96
Juwelier Thor Straten
Top Top
Linus
90 Obst & Gemü
Gemüse
92
92
92
Epp
end
orfe
r
La n
dstr
aße
N
90
88
88
Aliqua
Karstadt Reisebü
Reisebüro
Café
Café Lindtner
Schrammsweg
Kümmellstraß
mmellstraße
Starbucks
Christ
Fielmann
Budnikowsky
86
Umbau
TK Maxx
Bü
ücher
Heyman B
86
Das Depot
Dat Backhus
Lidl
EppendorfEppendorf-Centrum
Haspa
Optik Köpke
84 Aquarius Apotheke
84 Lampen Wetter
84 Springer BioBio-Backwerk
82 Dat Backhus
80 Balzac
80 Schlü
Schlüsselzentrum
80 SOL Café
Café & Restaurant
Goernestra
straß
ße
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November 2009
Trader Plan
Plan Eppendorfer Landstraße II
II
Straßenlauf
N
67
67
67
67
Europa Eiscafé
Eiscafé
65
Masoud Schuhe
65
Katharina Horman
Mooi
63
Klosterhof Apotheke
61
Wall Street Institute
61
DB Mobility Center
Flower Point
C&M Company Friseur
Lindemann
59
59
59
59
Home & Body
55
Cantus
Ryf
a
53
59
76
Blume 2000
76
Juwelier Anneli M. Rieck
76
Reisebü
Reisebüro
76
Annabel
74
74
74
74
74
70
Queen for a day
Franco
Masoud Schuhe
Römer Einrichtungen
Allegria Due
Deutsche Bank
Gustav--LeoGustav
Leo-Stra
Straß
ße
64
Milliways Schuhe
64
Meister Camera
64
Änderungsatelier Hasan
62
Reformhaus
62
Nils Borstelmann Teppiche
60
Anita Hass
60
Gigi‘
Gigi‘s Modeschmuck
58
Anita Hass
Page 70
November 2009
Eppendorfer
Landstraße
Hamburg
67
Douglas
Von Allwö
Allwörden Bäckerei
Budnikowsky
Vom Fass
Eppendorfer Land
straße
Schuhhaus Schü
Schüttfort
Backwerk 45
Bio Bä
Bäckerei Springer 45
Violas Delikatessen
43
Vodafone
43
Umbau
43
Teehandelskontor Bremen
43
Alster Acoustics
Tabak/Zeitschriften
Dat Backhus
41
41
41
Budnikowsky
39
Tchibo
39
44
42
42
42
31
Feen Apotheke
31
Friseur Peter Polzer
31
Bettenhaus Bü
Bürger
31
Hegestra
ße
Rebsaal Weinladen
Lilien Apotheke
Paulina Mode
Umani
Die BabyBaby-Etage
38
38
34-36 Pyjama Royal
34-36 T-Punkt
34-36 Café
Café Fleur
34-36 Schuhknecht Mode
Eppendorfer Baum
B.A.D.
Haspa
32
32
RiekhofRiekhof-Galerie
Palmers
30
Gundlach Schuhe
N
Hegestra
ße
27
28
Rolf & Bernd Friseur
E. Wisse
25
28
28
The Body Shop
Blume 2000
Umbau
23
Prima Reinigung
Butlers
21
21
Eppendorfer
Baum
Hamburg
Double Four
44
Edeka 35-37
Buchhandlung
Heymann
Straßenlauf
Trader Plan Eppendorfer Baum I
26
Görtz 17
26
Foto Partner
24
24
O2
World Coffee
Isebe
kkana
l
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November 2009
Kirsch
Creperie
Allwö
Allwörden
Joss
l‘espresso
22
Linette
19
22
Friseur W. Decker
19
22
22
Trader Plan Eppendorfer Baum II
II
22
Isestraß
Isestraße
Isestraß
Isestraße
Ho
ch
al
lee
Straßenlauf
Isest
raße
20
Wohlsdorff Tabak
20
Dahler & Company
20
GO Schuhe
20
House of Fitz
20
Engelke
Nobile
20
Spielwaren Lienau
13
Closed
13
Engel & Vö
Völkers
11
Milano
Optik Carl
Aust
11
Glenfield
Dössel & Rademacher
Scala
Reformhaus Engelhardt
9
11
11
18
18
18
18
Fischgeschä
Fischgeschäft Schmidt
Pepita
Umbau
Struwe Lederwaren
16
Labels for less
16
Prinz Eisenherz
14
Hapag Lloyd Reisebü
Reisebüro
Herbolzheimer Schmuck
14
9
9
14
Immobilien Meissler & Co.
9
14
Closed
Weinhaus Groehl
7
Flebbe
7
Hagel Haircompany
5
Gosche
5
Joseph & Josephine
3
NikolaiNikolai-Apotheke
3
Grossmann & Berger
1
Haspa
1
12
Eppendorfer Baum
Eppendorfer
Baum
Hamburg
Eppendorfer Baum
N
Parfü
Parfümerie Meister
10
Feinkost Lindner
8
8
Dat Backhus
Classico
Paula
6
d‘or
6
Marc O‘Polo
4
4
4
Gleitzmann Frü
Früchte
Metzgerei Beisser
Evelyn Brandt
8
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November 2009
Klosterstern
The Ottenser Hauptstraße is the city district location of the municipality Altona. Altona has a total of
280,000 inhabitants and the Ottenser Hauptstraße belongs to the most developed city district locations of
Hamburg. The from a retail perspective strongest part of the Ottenser Hauptstraße lies around the shopping
centre “Mercado” and the station Altona. The “Mercado” was recently sold by the owner Pirelli RE to an
open property funds of the Union Investment. The shopping centre “Mercado” is a well-established city district shopping centre with a permanent covered market and a mass market and upmarket tenants mix.
As already mentioned, the Ottenser Hauptstraße is one of the most established city district locations in
Hamburg. This status could be preserved by means of a whole row of project developments which have
influenced the image of the district sustainably, which was known to be politically rather alternative. In addition to the “Mercado”, the “Geschäftshaus Ottensen” (today also known as the “Mercado 2”) was developed by the then DGAG (DGAG Deutsche Grundvermögen AG), which was later bought by Pirelli RE. The
third object that was opened for retail, also by the then project developers DGAG, was the station Altona.
Media Markt were acquired as the main tenant for the project, which also brought new footfall frequencies
into the city district location. Apart from Media Markt, the tenants’ mix of the object is rather orientated towards local supply and quick turnover, with further anchor tenants such as Lidl, Rossmann and McDonald’s.
Ottenser Hauptstraße – Interesting Location between “Mercado” and “Frappant-Gelände”
Due to the project developments, the Ottenser Hauptstraße has also become interesting for national and
international retail concepts. Therefore, the Spanish fashion retailer Zara, the Hamburg fashion label Tom
Tailor as well as Görtz 17, the young concept of the Hamburg shoe retailer Görtz, opened up in the street.
Consequently, in this street one can find a concentrated retail supply within 500 metres walking distance,
which is comparable to many a German metropolis. The French ladieswear retailer Promod will also be
opening a branch in spring 2010.
However, the quarter also experienced shifts due to the project developments. The Western part of the Ottenser Hauptstraße which always has been rather dominated by small surfaces and is the trendy part of the
street was much less affected than the Große Bergstraße which follows in the East.
The Große Bergstraße had lost its magnet, a Karstadt department store, already before the “Mercado” was
developed. This triggered a continuous trading-down-process. The street lost more and more of its high
class and owner-run retail mix, so that the streetscape now is mainly dominated by takeaways, call and 1euro-shops as well as interim usages.
Hope in Yellow and Blue – Curse or Blessing for the Große Bergstraße and Altona?
However, a couple of months ago things have started to move again in the Große Bergstraße and thus in
the entire city quarter, because the so-called “Frappant-Komplex” (vacant Karstadt property) has attracted
the attention of the Swedish home store IKEA. After the demolition of the “Frappant Komplex”, IKEA wants
to open up the first German inner-city furniture store here. In this connection, a new concept for small furniture and living accessories should be tested, which will differ from the well-established home stores of the
group.
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Following the grass-roots democracy tradition of the quarter, two citizen initiatives have been formed in
Altona, the “Contra IKEA” and the “Pro IKEA”, those who are against and, respectively, in favour of the
project. The situation of interests is difficult, because people are afraid that the district will be overstrained
by the additional traffic. At the same time, the trade-off between the IKEA and the Ottenser Hauptstraße is
Currently, opponents of the project have managed to obtain a planning pause of six months by means of a
petition for a referendum. Overall an increasing commercialization of Altona is being feared. The current
owner, however, is of a different opinion and has withdrawn the contract from the artists that are currently
using the Frappant building. Whether IKEA will still be interested in a continuation of the project after expiration of the time limit of six months is not yet clarified. Thus, the situation in Altona remains captivating.
From a retail perspective, Altona is an interesting city district location which has been strongly influenced by
the “Mercado” and the two project developments. The sales space of the city district location has almost
doubled through these developments. Particularly local supply and gastronomy concepts (also chains) can
find starting points for an expansion here, because the street is a central hub in Hamburg due to the “Mercado” but also due to the station Altona (ICE terminal stop) and therefore receives good footfall frequencies.
However, the shortness of the street has a limiting effect, because there are only few mixed-use properties
outside the centre. Therefore, one has to expect little activity on the rent market of the Ottenser Haupstraße,
also because the new project developments have only entered the market a couple of years ago and are
still occupied by long-term tenancy agreements.
being doubted by the opponents of the project because both market places attract different target groups.
The opponents argue that due to the average longer stay in the home store, the customers will not go
shopping in the Ottenser Straße after they have just had a long shopping experience. Thus, they assume
that the Große Bergstraße as connecting street between the two retail magnets will not profit from the additional footfall frequencies.
The following years will be decisive in how the Große Bergstraße will develop, because one cannot tell yet
whether the IKEA home store will bring the desired trading up process with it or whether the current status
quo will only be maintained. The Western Ottenser Haupstraße will remain rather trendy and individually
orientated also in the future and might attract national pioneers, as has been shown by the German skater
wear label Titus.
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Finally, we would like to show the current trader plan of the Ottenser Hauptstraße around the Altona station.
Bahrenfelder Straß
Straße
24
Obst & Gemü
Gemüse
Salman Imbiss
24
T-Punkt
27
F.O.N. Friseur
25
Eiscafé
Eiscafé Venezia
23
22
Dat Backhus
Toxx Schuhe
21
20
Tom Tailor
M-Hairfactory
21
Balzac Coffee
19
20
Zara
10
Görtz 17
Umbau fü
für Promod
17
Optik Bode
13
BackBack-Factory
g
Eingan
11
Dat Backhus
Metzgerei Beisser
ße
aß
auptstra
Ottenser H
ße
gstra
Stan
Straßenlauf
Bahrenfelder Straß
a ße
10
9
9
lde
Am F e
Bagel Brothers
7
BahnhofsBahnhofs-Apothek
5
Alligator Lederwaren
10
10
10
10
do
Merca
Ottenser
Hauptstraße
Hamburg
Mercado Einkaufszentrum
CATE
Noris Bank
Trader Plan Ottenser Hauptstraße
Debitel/Mobilcom
H&M
Tally Weijl
Eingang
Mercado
3
Fielmann
3
8
Schweinske
1
BOK
1
Görtz
2-6 Esprit
2-6 Vero Moda/Jack
2-6 s.Oliver
2-6 Avanti
Burger King/Conrad Elektronik
Ba
ang
Eing
f
hnho
2-6
& Jones
MediaMarkt
Bahnhof
Altona
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November 2009
The city district Bergedorf, after which the municipality Bergedorf with approximately 119,000 inhabitants
was named, lies in the Eastern urban area of Hamburg in an almost solitary location. Bergedorf is about
20 kilometres away from Hamburg’s inner city and has thus a central supplying function, not only for the
inhabitants of the district, but also for the neighbouring districts in Hamburg’s wealthy outskirts, among
which are the wealthy towns Reinbeck, Wentorf, Wohltorf and Aumühle.
The city district location of Bergedorf is the pedestrian zone Sachsentor, a lively city district location with a
central market place, small shops and an attractive architecture. The branch mix of the street is clearly orientated towards local supply. Some fashion highlights such as H&M, Gerry Weber or Esprit can, however,
also be found at the Sachsentor. The anchor tenant of the street is a Karstadt department store; however, its
future here is rather unclear due to the commotions within the parent company.
Despite its established location, Bergedorf has rather lost significance in the past compared to its surroundings and, in particular to the Hamburger City. Well-established owner-run stores were closed down and the
Eastern anchor tenant, the so-called “Mohnhof” and former Penndorfhaus, could not bring the expected
footfall frequencies into the district, so that buildings were vacant for longer periods of time or had to be
used for interim tenancies.
BID, “Neuer Monhof” and “Neue Mitte Bergedorf” – Strong Impulses for Bergedorf
In order to stop the decrease in significance, three parallel initiatives were started, which advanced the development of the city district location. The first development was the foundation of the BID “Sachsentor I”,
the first Business Improvement District in Hamburg. The aim of the BID is to improve the streetscape of the
Sachsentor by means of new street furniture and a systematic quarter management. The action was
planned to last three years and received private means in the amount of 160,000 €; it has now been completed and has been extended by another five years with the BID “Sachsentor II”. The total budget of the
new BID amounts to 600,000 € taken from private means. The individual measures are already starting to
show an effect.
Within the second initiative, the vacant “Mohnhof” was comprehensively renovated and newly positioned as
the “Neuer Mohnhof”. The owner has managed to win five interesting tenants for the object. Thus, the organic food store Bio Company, Esprit, Hennes & Mauritz, Das Depot and Kult, a young fashion concept of
the Kölner Görgens Group will be opening in the “Neuer Mohnhof” at the beginning of 2010.
The third positive development is the revitalization of the former “City Centre Bergedorf”, an object of the
Dürener Fundus Group. The somewhat aged centre is currently being developed into the “Neue Mitte
Bergedorf” in three development phases, of which the first one has already been completed. The multifunctional centre will comprise 29,000 m² of space when all the construction works have been completed and it
will also contain the bus station of Bergedorf as a central footfall generator.
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Jens Wehmhöner, Head of Retail Agency for CB Richard Ellis in Hamburg, gives information about the positive effects for the city district locations.
“Due to the BID ‘Sachsentor1’ and the future BID ‘Sachsentor2”, Bergedorf will
get the opportunity to strengthen and develop its position and the centra city district location in the East of Hamburg.
The Sachsentor as connecting route will profit from the two magnets ‘Neuer
Mohnhof’ and ‘Neue Mitte Bergedorf’. Due to the attractive structure of the buildings and the BID initiatives, the footfall frequency will increase, which brings with
it a profit for the retailers but also for the owners.”
Bergedorf and the Sachsentor will belong to the most important city district locations of Hamburg’s retail
market also in the future. Particularly regional and national chains will find starting points for an expansion
here. Due to developments such as the “Neuer Monhof” and the “Neue Mitte Bergedorf”, large surface
retail properties are also available now.
Jens Wehmhöner, Head of Retail Agency for CB Richard Ellis in Hamburg clarifies:
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November 2009
Concluding, we would like to present the new trader plan of the Sachsentor in Hamburg Bergedorf.
Trader Plan Sachsentor
Straßenlauf
86
Kup
ferh
of
Haspa
ße
ßstra
Schlo
r
e
f
edor
Berg
e
straß
nden
Vierla
Jim Block
2
Block House
Schramm Moden
1
Schramm Moden 6
Juwelier Koch 6
8
Bonita 10
r
sento
Sach
T-Punkt
First Reisebü
Reisebüro
3
mobilcom 12
Juwelier Zieroth
5
5
7
Les Dessous
Apollo
Aurel Parfü
7
Parfümerie
O2
Hagel Hairshop
11 Sachsentor Buchhandlung
13 Schuhhaus Bode
9
11
Konditorei Erdmann 14
latz
elm-P
r-Wilh
Kaise
Blume 2000 16
Linden Apotheke
Eiscafé
Eiscafé Ciprian 3
E Plus 4
2
21
5
Bergedorfer
Marktplatz
27
Willhoeft
a
23-25 H
22
Gerry Weber
24
Alligator
Umbau
26
26
Douglas
28
Deichmann
30
Weinkellerei von Have
32
CULT at Home
34
Sachsentor
N
Karstadt
15 Timm Kaffee
Klier Friseur
Show Cut Friseur
Fielmann
17
19
&M
SilverSilver-Art
29
Buddelei
31
Apotheke
33
BackBack-Shop
33
Mister Minit
33
Karstadt
Page 78
November 2009
Starbucks
Sachsentor
Hamburg
Alte Holst
enstraß
raße
City Center
Bergedorf
Himterm Graben
Ditsch
47 XL Cut Company
49 The Phone House
49 Grossmann & Berger
49 Nails Art
Christ
36
Ronamobil.com
38
Amplifon
Henkmann Kiosk
Tamaris
38
40
Sachsen
tor
47
53
Tchibo
Optiker Bode
53
Theves Geschenkartikel
49
42
Hude
Mobilcom
Fée
Blumeninsel
44
46
Backwerk
48
Twisty
Juwelier Dwenger
50
63
Bücher Heymann
52
65
67
Papyrus
Cantus
69
Vodafone
69
2000 Reformhaus
71
Tom Tailor
73
Friseursalon Horn
75
Schü
Schüttfort Schuhe
55
Sachsentor
Das Depot
58
H&M, Esprit, Kult
Spielforum 2000
Lolli Geschenkartikel
e
raß
erst
d
n
ysa
Chr
3
Merletto Mode
4
Umbau
N
54
Umbau fü
für
Sachsentor
Hamburg
Passage
Sachsentor
Rossmann
Straßenlauf
Volksbank Stormarn
61
46
Trader Plan Sachsentor
5
Berg
edor
fer St
raße
6
Photo Dose
6
Hifi Studio Bergedorf
Berg
edor
fe r S t
raße
a
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November 2009
Rental Spreads Hamburg City District Locations
Locations
Street
Rent in €/m²
Type of Location
Wandsbek
Wandsbeker Marktstraße
50 - 60
Mass market
Eppendorf
Eppendorfer Baum/Eppendorfer Landstraße
65 - 80
Bergedorf
Sachsentor
65 - 75
Mass market
Altona
Ottenser Hauptstraße
50 - 60
Mass market
Othmarschen
Waitzstraße
50 - 60
Mass market
Eimsbüttel
Osterstraße
40 - 50
Mass market
Winterhude
Mühlenkamp
40 - 50
Blankenese
Blankeneser Bahnhofstraße
50 - 60
Mass market
a
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November 2009
City District Location
Last but not least we would like to introduce the rental spreads of Hamburg’s city district locations. We refrain from giving prime rents also at this point. The described rental spreads refer to a shop unit with an
ideal cut and 100 m² sales area. The window front of this “ideal” shop unit is five meters wide.
A further decisive factor on Hamburg’s retail market are the shopping centres. Hamburg can be ranked
second amongst the German cities concerning the number of shopping centres, after Berlin. A total of 35
shopping centres (including shopping passages and galleries) are vying for the attention of the customers in
Hamburg and its close proximity, whose alignment reaches from theme centres (Stilwerk) over large shopping centres (Alstertal Einkaufs-Zentrum) to retail parks (Marktkauf Center 1 and 2).
Marcus Neumann, Head of Shopping Center Management for CB Richard Ellis:
“The numerous inner-city passages and centres, such as the Hanse-Viertel and the
Europa Passage, fit in with the local retail market and are integrated in the cityscape both from an urbanistic point of view as well as from the perspective of the
visitors.
A clear targeting and definition of unique selling points are becoming more and
more important tasks for the owners and centre management due to the multitude
of centres and the increasing competition resulting from revitalizations (as was the
case with the shopping centre Hamburger Straße).
Shopping Centres in Hamburg – The Cranes are turning
Prominent openings such as Apple in the “Alstertal Einkaufs-Zentrum” or Hollister in the “Elbe Einkaufszentrum” show that shopping centres are additional expansion and distribution channels for national
and international retailers, beside the prime locations.”
Inner City Passages and Centres – Essential Part of the Hamburger City
The majority of the inner city passages can be found in the City West. In these passages, one can still find
many individual stores which, in combination with the chains, offer the masses of tourists and inhabitants of
Hamburg a varied branch mix. Apart from the charm of the branch mix, many passages also offer an attractive architecture, which is one of the reasons for the popularity that the passages and centres have been
enjoying for decades and are still enjoying today. The following table and map show the locations and the
essential basic data of the shopping centres and shopping passages in the Hamburger City.
Shopping Centr
Centres, Passages and Galleries in the Hamburger City
Name
Retail Space (in m²)
Year of Construction/Opening
Number of Shops
Europa Passage
30,000
2006
130
Hanse-Viertel
10,000
1980
62
Gänsemarkt-Passage
6,400
1976, mod. 2001
30
Levantehaus
6,000
1997
46
a
Page 81
November 2009
Shopping Centres, Passages and Galleries in Hamburg’s City
Hamburger Hof
5,700
1881, mod. 2000
24
HSH Nordbank Passage
5,200
1974, mod. 2002
35
Bleichenhof
3,500
1990
32
Kaufmannshaus
3,500
1907, mod. 1978
20
Galleria
1,800
1983
25
Quelle: HK Hamburg, CB Richard Ellis GmbH
Shopping Center und Einkaufspassagen und –galerien in der Hamburger City
1 Europa Passage
2 HanseViertel
3 Gänsemarkt Passage
4 Levantehaus
5 Hamburger Hof
6 HSH-Nordbank Passsage
7 Bleichenhof
8 Kaufmannshaus
9 Galleria
3
Shopping Centres, Passages and Galleries in Hamburg’s City
5
2
9
8
7
1
6
City West
4
City Ost
Quelle: HK Hamburg, CB Richard Ellis GmbH, Kartengrundlage: MapPoint 2009
City district Shopping Centres – A Welcomed Supplement to the City District Locations
Most shopping centres fit in with the supply structure of the local surroundings complementarily and have
taken over the function of a city district location where from a retail perspective no such thing existed before.
The “Billstedt-Center”, the “Quarree Wandsbek” and also the “Mercado” in Altona can be given as examples here. The previously mentioned centres could even increase the centrality of their city districts. Hamburg-Harburg is the only place where the development must be seen critically because here, a multitude of
centres has led to a cutthroat competition and a crowding out among the centres, but also in the city district
location, the Lüneburger Straße.
a
Page 82
November 2009
A further distinctive feature is the “Alstertal Einkaufs-Zentrum”, because it has a remarkably high proportion
19
20
26
21
7
18
6
13
14
24
3
2
8
25
15
5
22
10
27
4
23
11
16
Page 83
28
November 2009
9
Center im Hamburger
Stadtgebiet
Center im Hamburger
„Speckgürtel“
Marktgebiet Hamburg
Quelle: CB Richard Ellis GmbH, Ehi, IfG Kartengrundlage: MapPoint 2009
of luxury orientated brands, which is mainly due to the wealthy customers from the neighbouring districts.
1
17
Shopping Cent
Centres in Hamburg and it
its Surroundings
a
12
1 Alstertal Einkaufs-Zentrum
2 EKZ Hamburger Straße
3 Elbe-Einkaufszentrum
4 Billstedt-Center
5 Quarree Wandsbek
6 Stadtzentrum Schenefeld
7 Einkaufs Treffpunkt Farmsen
8 Mercado
9 Phoenix-Center
10 Europa Passage
11 "Neuen Mitte Bergedorf"
12 Herold Center
13 Rahlstedt Arcaden
14 Eppendorfer Centrum
15 Bahnhof Altona Shopping
16 Marktkauf-Center 2
17 Krohnstieg Center
18 Nedderfeld-Center
19 EKZ Langenhorn
20 Tibarg Center
21 Eidelstedt Center
22 EKZ Jenfeld
23 Marktkauf-Center 1
24 EKZ Tondo
25 HanseViertel
26 City Center Steilshoop
27 stilwerk Hamburg
28 Harburg Arcaden
Name
Year
Total Space
1
Alstertal Shopping Center
2
1970/2006
69 000
247
EKZ Hamburger Straße
2010
53 000
160
3
Elbe Shopping Center
1966/2010
43 000
115
4
Billstedt Center
1977/1996
40 000
106
5
Quarree Wandsbek
1988/2010
40 000
84
6
Stadtzentrum Schenefeld (Schenefeld)
2011
36 200
110
7
Einkaufs Treffpunkt Farmsen
1980
36 000
72
8
Mercado
1995
32 500
79
9
Phoenix-Center
2004
31 500
110
10
Europa Passage
2006
30 000
117
11
"Neue Mitte Bergedorf" former City Center Bergedorf (CCB)
+ "CCB Fachmarktzentrum"
1991/2010
29150
90
12
Herrold Center (Norderstet)
1971/2004
29 000
116
13
Rahlstedt Arcaden (former Rahlstedt-Center)
1983/2010
22 500
70
14
Eppendorfer Centrum (Offices + Retail)
2009
21 000
n/a
15
Bahnhof Altona Shopping
2005
21 000
33
16
Marktkauf Center 2
1983
18 500
34
17
Krohnstieg Center
2004
17 000
13
18
Nedderfeld Center
1989/2006
16 900
24
19
EKZ Langenhorn
1997
16 000
55
20
Tibarg Center
2002
15 000
48
21
Eidelstedt Center
1986
14 000
47
22
EKZ Jenfeld
1972
13 910
49
23
Marktkauf-Center 1
1987
13 440
27
24
EKZ Tondo
2006
13 000
18
25
Hanse-Viertel
1980
12 000
62
26
City Center Steilshoop
1974
11 550
45
27
stilwerk Hamburg
1996
10 765
32
28
Harburg Arcaden
2002
10 342
48
Source: CB Richard Ellis GmbH, EHI, IfG Falk
a
Shops
Page 84
No.
November 2009
Shopping Centres in Hamburg and its Surroundings
Shopping Center in Planung und Erweiterung
Erweiterung in Hamburg
Neue Shopping Center auf dem
Markt
1 Überseequartier
2 EKZ Brahmfeld
3 Stadteilzentrum
Rothenburgs Ort
2
3
5
6
1
Shopping Center Revitalisierung
oder Erweiterung
1 EKZ Hamburger Straße
2 Quarree Wandsbek
3 Rahlstedt Arcaden
4 „Neue Mitte Bergedorf“
5 Stadtzentrum Schenefeld
6 Eidelstedt Center
2
1
3
The revitalisation of the shopping centre Hamburger Straße can currently be seen as promising, as it is situated in the midst of the densely populated districts (Uhlenhorst, Winterhude, Barmbek, Eilbek, Wandsbek).
In Hamburg Bramfeld, a new centre will be opening in 2011 which will mainly be orientated towards the
local supply. The Überseequartier in the HafenCity (53,000 m²) will also be opening up in 2011.
Marktgebiet Hamburg
4
Quelle: CB Richard Ellis GmbH, EHI, IfG Falk, Kartengrundlage: MapPoint 2009
Concluding, we would like to introduce outstanding, exemplarily chosen rentals and openings in Hamburg’s shopping centres. Due to the owner driven rental market of shopping centres, we cannot make
statements about prime and average rents of the mentioned centres.
Selected Running Deals from the Hamburg Shopping Centr
Centres 2008/2009
Shopping Center
Mieter
Alstertal-Einkaufs-Zentrum
Strenesse (Blue)
125
Fashion
Alstertal-Einkaufs-Zentrum
Apple
500
Computer
Elbe-Einkaufszentrum
Hollister
660
Schuhe
Europa Passage
Rewe
1,500
Supermarkt
Gänsemarkt-Passage
Elb (Görgens Gruppe)
1,800
Fashion
a
Konzept
Page 85
November 2009
Größe ca.
The business location and retail market Hamburg have proven to be relatively resistant to crises in the past
year. Particularly the alignment towards continuous and sustainable growth, which builds on innovative
future branches and a very good demographic potential, makes Hamburg particularly interesting for national and international investors.
Despite the currently small supply of absolute prime objects, Hamburg’s real estate investment market offers
interesting approaches in a constant and clearly less volatile manner than other European metropolises in
the ongoing phase of crisis. This applies particularly for institutional investors with sufficient equity such as
insurances or pension funds. By means of a fore-sighted city development policy, the HafenCity was created
as a new sub market in Hamburg and the largest waterfront development in Europe, which has established
itself as sustainable investment location among the investors.
Hamburg’s retail real estate market must be seen as an absolute core market for institutional as well as
wealthy private investors. Despite the overall uncertainties on the international capital markets, there is no
decline in demand to be seen in this segment, which is due to the extraordinary market potential (population, purchasing power), the attractive branch and brand mix, the solvent retailers and the constant prime
rents in the prime locations of the City East and City West.
Retail Investment – Good Perspectives, Little Supply
Michael Mikulicz, head of investment Hamburg for CB Richard Ellis clarifies:
“In addition to the classical institutional investors such as pension funds and insurances, we currently see private equity which focuses on the prime locations of
the city.
Thus, so-called trophy assets with renowned addresses are currently being negotiated at top conditions, particularly when these investments are positioned in the
range between 10 and 20 million Euros.”
This demand of the investors, however, is currently meeting a small supply of available objects, because the
proprietors and owners are aware of the constant value of their properties and are currently rather cautious
when it comes to selling. Due to the excess demand, one can thus further expect constant yields on Hamburg’s retail real estate market.
a
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November 2009
Nevertheless, some renowned single objects have been traded in the past one and a half years. The most
prominent transaction in this segment was certainly the selling of the internationally famous “Alsterhaus” at
the Jungfernstieg, which was sold to an institutional fund of the IVG for approximately 96 million Euros. The
Hamburg branch of CB Richard Ellis was the exclusive advisor of the seller in this transaction.
Nevertheless, some renowned single objects have been traded in the past one and a half years. The most
prominent transaction in this segment was certainly the selling of the internationally famous “Alsterhaus” at
the Jungfernstieg, which was sold to an institutional fund of the IVG for approximately 96 million Euros. The
Hamburg branch of CB Richard Ellis was the exclusive advisor of the seller in this transaction.
Additionally, Hamburg’s inner city could register some selected transactions in the prime locations in the
middle segment between 10 and 20 million Euros. These transactions concern renowned objects in renowned locations, which were bought by Hamburg private investors with the almost exclusive use of equity,
who relegated the institutional bidders to the low ranks.
It also becomes clear that Hamburg’s city district locations with their high and constant rent levels are further interesting options particularly for these wealthy private investors. Hereby, the interest focuses particularly on small retail properties and investment properties with a comparably lower investment volume and
better yields than in the prime locations in the city centre of the hanseatic city.
This demand of the investors, however, is currently meeting a small supply of available objects, because the
proprietors and owners are aware of the constant value of their properties and are currently rather cautious
when it comes to selling. Due to the excess demand, one can thus further expect constant yields on Hamburg’s retail real estate market.
The most recent significant retail transaction was the selling of the shopping centre “Mercado” in the pedestrian zone of Hamburg’s district Altona. The owner, Pirella Real Estate, sold the object to an open property
funds of the Union Investment for approximately 164 million Euros.
However, apart from this investment that can be described as the core, we have also registered several
other future orientated engagements on Hamburg’s retail market.
The Hamburger Quantum Immobilien AG, for instance, bought the ensemble of Hamburg’s department for
urban development and environment on the corner Neuer Wall/Stadthausbrücke for approximately 54
million Euros. Among other things, a new retail- and gastronomy-orientated city quarter should be developed here as of 2013. Only a few metres away, Momeni Projektentwicklung are currently developing the
project “NW 63°”, which is going to provide further high class retail space in an office and business building. Both projects will upgrade the upper part of the Neuer Wall from a retail perspective and will thus
clearly enrich the micro location as well as Hamburg’s property market.
Furthermore, investments are also being undertaken in the area of existing stock of properties. With these
partially substantial strategic investments, the owners are preparing their properties for the competition on
the retail market, in order to remain competitive also in the future, and also in order to participate in the
further growth in the locations. The redevelopment of the shopping centre “Hamburger Straße”, the extension of the “Quarree Wandsbek” as well as the “Elbe Einkaufszentrum” can be given as examples here.
a
Page 87
November 2009
In the first three quarters of this year, a total of 743 million Euros were invested in Hamburg’s real estate
market, of which 26.6% (197.4 million Euros) were allotted to the asset class retail. Hamburg’s investment
market for retail properties will undoubtedly remain one of the most coveted investment locations in Germany and Europe also in the future. However, due to the fact that the objects are only very rare and then
only offered at very high prices, the market will also remain dependent on buyers with high equities, and
will denote a stable rate of return. The current prime yield for retail properties in the prime locations of the
Hamburger City is 4.5% and for shopping centres it is 5.75%.
a
Page 88
November 2009
Source: Foto: www.mediaserver.hamburg.de/C.Spahrbier
Nighttime Impression: The silhouette of the “Speicherstadt”
For further information:
Philipp Hass
Associate Director, Head of Retail Agency North
CB Richard Ellis
Neuer Wall 77
20354 Hamburg
t: +49 40 80 80 20 41
e: [email protected]
Jens Wehmhöner
Associate Director, Prokurist
CB Richard Ellis
Neuer Wall 77
20354 Hamburg
t: +49 40 80 80 20 39
Sven Buchsteiner
Senior Consultant
CB Richard Ellis
Bockenheimer Landstrasse 24
60323 Frankfurt am Main
t: +49 69 17 00 77 66 2
DISCLAIMER 2009 CB RICHARD ELLIS
a
Page 89
November 2009
Information contained herein has been obtained from sources believed reliable. While we do not doubt its accuracy, we
have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are example
only and do not represent the current or future performance of the market. This information is designed exclusively for
use by CB Richard Ellis clients, and cannot be reproduced without prior written permission of CB Richard Ellis.

Retail Report Hamburg - 11.01.10 - Finale Version - Englisch

Transcription

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