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Foreign retail – upward trend Prepared by Petr Palicka, Managing Director CONTENT Retail market overview Europe x Czech Republic Market situation overview – generally, year 2005 Property investments Retail market expectation in the next 2-3 years Retail market analysis & research

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foreign retail upward trend

Foreign retail – upward trend

Prepared by Petr Palicka, Managing Director

content
CONTENT
  • Retail market overview

Europe x Czech Republic

Market situation overview – generally, year 2005

Property investments

  • Retail market expectation in the next 2-3 years
  • Retail market analysis & research
  • Bovis Lend Lease retail projects
retail market overview europe
Retail market overview - Europe
  • The area of Shopping Centres in 34 European countries in continuous

growth

Total shopping area 100 mil sqm

average 166 sqm / 1,000 inhabitants

New shopping area 2005 - 5,5 mil sqm

2006 - 7 mil sqm

  • Countries with the largest shopping area

UK 14 mil sqm (232 sqm / 1,000 inhabitants)

France 13 mil sqm (220 sqm / 1,000 inhabitants)

Germany 11 mil sqm (132 sqm / 1,000 inhabitants)

  • Countries with the lowest standard of shopping

Bulgaria, Malta, Bosnia

retail market overview cr general overview
Retail market overview - CR – General overview
  • Market situation is strongly influenced with hyper & supermarket chains

High amount of hypermarkets & supermarkets on the market

Highly competitive atmosphere, price increase stagnation

  • Continuous increase of shopping malls´ popularity

10 SCs with more than 100 tenants, over 30 SCs with over 50 tenants

Hypermarket tenant in CS still as the main attraction for the customers

Increase trend of entertainment area in shopping malls (Cinemas, wellness, ice-rings, pools, etc.)

  • Customers´ behavior

Insist more on goods´ quality and comfort during shopping, shopping becoming a time of enjoyment and connected with entertainment, more time spent in individual BU than in hyper & supermarkets

  • Significant modification of the suppliers´ structure

Goods imported from EU countries  Czech producers export to EU countries

retail market overview cr year 2005
Retail market overview - CR- year 2005
  • The area of Shopping Centres increased up to 20% (212,000 sqm)

Total shopping area is 1,35 mil sqm = 132 sqm / 1,000 inhabitants

CR is still behind c. 20% in comparison to EU countries

Prague itself over-rises the EU average of 40% (32% of total area in CR)

  • Each regional City has at least one SC in EU standard
  • New Shopping Centres opened, others undergone area enlargement

3 new SCs in Prague (OKC Eden, Galerie Butovice, Centrum Chodov)

Not all of them must be successful – location is an important factor

  • New trend in SCs placement

Instead of cities´ periphery (to attract also non-city inhabitants) the City centres

again wanted (eg. new SCs Vankovka in Brno, Palladium in Prague to be

opened in 2007)

property investments in retail cr 2005
Property investments in Retail – CR - 2005
  • The retail property market continues to be very active
  • Retailer demand remains strong, in particular for key high street locations, increasing demand for new Shopping Centre space – especially for BU in Shopping malls
  • A number of new in-town SC developments are due for completion in the next two years. Out-of-town SC to be modernized to compete.
  • High demand on investment funds, yields 7-6,5%
  • Region investment split

Investments are not targeted only to Prague region

Prague – high street, wider city centre, borders of City centre

Regions – Bohemia (Middle, North, West), Moravia (North, South)

property investments in retail cr major investments deals 2005
Property investments in Retail – CR - Major investments/deals 2005
  • Sestka, Prague 6-Ruzyne size 32,000 sqm

price € 70 mil

yield 7,50%

  • AGY Centrum, Ceske Budejovice size 30,000 sqm

price > € 45 mil

yield 7,50%

  • Arcady Pankrac, Prague 4 size 36,000 sqm

price c. € 72 mil

yield confidential

  • Nove Butovice, Prague 5 size 46,000 sqm

price € 100 mil yield 8,25%

retail market expectation for the next 2 3 years
Retail market expectation for the next 2-3 years
  • Expectation of the new international retail chains entering the market
  • Successful penetrations to the market expected

a) Non-food segments fashion, shoes, furniture, etc.

b) Food segment mostly in small cities, non Prague region

  • Expansion strategy option new products & formats

sensitive approach with local modifications

  • Increase of shopping area to achieve EU average

New SCs to be build and opened – up to 160,000 sqm in 2006

number of retail units in sc in cr top 12
Number of retail units in SC in CR – Top 12

Books

Clothes / fashion / textile

Shoes / leather goods

Sport / Toys

Jewellery / Watches / Presents

Electronics / PC tech

Food

Flowers

Furniture / carpets / soft furnishing

Tobacco / newspapers

Hypermarkets

Drugstore / cosmetics

Product category split,data from January 2006

customers visit of bu at the shopping centre
Customers´ visit of BU at the shopping centre

Hypermarket

Mall

Restaurants

Cinemas/Fitness

Services

slide11

Raising popularity of the Shopping Centres

>5 hrs

3-4 hrs

2-3 hrs

1-2 hrs

< 1hr

Time spent in the favorite shopping centre during the last visit (hours)

slide12

The most visited Shopping Centres in Prague

often

rare

Myslbek

Globus Zlicin

OC Letnany

Metropole Zlicin

Novy Smichov

C. Cerny Most

Hypernova Pruhonice

Avion Zlincin

Palac Flora

Park Hostivar

Share of Prague households (%), Explanation – rare x often visits

slide13

Top 10 Retail chains

In terms of turnover, data from 2004)

slide14

Area in sqm / 1,000 inhabitants

50

70

90

110

130

Hypermarkets´ Shopping area - Regional split

slide15

Development of hypermarkets in CR

Number of super and hypermarkets, data from January 2006

slide16

Bovis Lend Lease –Retail & Leisureprojects

Olympia Shopping Centers-€162 mil. total for 6 centers

Asko Furniture – Brno, Teplice

MIXED USE

Slovansky Dum, Prague - € 36.7 mil.

SC Centrum Chodov – € 106 mil.

slide17

Bovis Lend Lease –Retail & Leisure projects

Tesco Stores , 4 stores, Czech Republic

Ster Century Cinemas, 6 projects, Czech Republic

CentroZlin SC, Zlin

Ahold Hypermarkets – 7 stores, Czech & Slovak Republic

bovis lend lease centrum chodov
Bovis Lend Lease – Centrum Chodov

Completion 06/04 - 11/05

Lease-able area 55 000 m2

# BU 210

Parking    2 509 spaces

BLL role Project Management