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Retail Destination BELGIUM 2019 - 2020


“WHERE TO GO NEXT?”


Cushman & Wakefield

INTRODUCTION

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Retail Destination Belgium

“Where to go next?” This is actually the most challenging question for both national and international retailers in the setting up of their future strategy. Should we expand the physical store network, or should we invest even more in new online markets. Will the market go up, or will it continue to slow down? All of these questions are geared towards the difficulties retailers are facing today, due to the fundamental change and transformation the market has gone through. Without critical guidance and specialist investigation, retailers seem to be required to take big risks and face possible failures in their aim for future growth.

Both landlords and retailers are forced to invest large amounts of time and money in getting a handle on these important elements, in order to make the right decisions.

Distractions from their core business are huge, and impact the final results. Therefore, Cushman & Wakefield is a unique partner in the retail landscape. With a colossal track record in deal making, topnotch professionals, and unique data and research departments/tools, Cushman & Wakefield is able to be the one stop shop advisor for both retailers and landlords, in the shift from pure physical retail towards omnichannel retail business, with a focus It’s true, running a successful brand is not on creating quality instead of quantity for an easy game anymore. It takes knowledge all stakeholders. We hope you will enjoy of marketing, online, real estate, financials, taking a further look in this brochure. legislation, data… Jean Baheux Head of Retail Agency

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Cushman & Wakefield

KEY FIGURES BELGIUM

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Retail Destination Belgium

21,5%

1.6 sq m

CONSUMPTION GROWTH OVER THE LAST TEN YEARS

RETAIL SPACE PER INHABITANT IN BELGIUM

74%

67.000

% CROSS-BORDER RETAILERS, AMONGST THE HIGHEST IN EUROPE (SOURCE: CODATA)

EXTRA INHABITANTS PER YEAR OVER THE LAST TEN YEARS: THE SIZE OF A NEW REGIONAL TOWN EVERY YEAR!

11.4

NR 3

MILLION INHABITANTS

IN THE KOF INDEX

(OPENNESS OF THE COUNTRY FOR INTEGRATION INTO WORLD ECONOMY)

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Cushman & Wakefield

S T R O N G P O P U L AT I O N G R O W T H

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Retail Destination Belgium

BELGIAN POPULATION FORECAST* Over the last ten years the number of inhabitants grew on average by 67,000 people per year; this means that the size of regional town is added to the Belgian market every year. The total population actually amounts to 11.4 million but according to the federal Planning Bureau Belgium will have some 11.8 million inhabitants by 2030. This is due to a healthy natural growth, but migration is also very important: a stable economy and the capital of Europe are attracting a growing number of foreigners to Belgium. 12 11.8

11.4 11.2 11 10.8 10.6 10.4

30

29

20

28

20

27

20

26

20

25

20

24

20

23

20

22

20

21

20

20

20

19

20

17

18

20

20

20

15

16 20

20

14

13

20

20

12

11

20

20

10

10.2 20

Millions

11.6

*Federal Planning Bureau Belgium 9

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Cushman & Wakefield

HOUSEHOLD CONSUMPTION HEALTHY Between 2008 and 2017, household consumption in Belgium grew by 21.5%. According to Eurostat the average for the EU-28 counties was 13%; only Luxembourg (30.2%) has a higher figure than Belgium. In Belgium salaries are linked with the cost of living through an indexation mechanism of wages; this certainly helped to underpin consumption in the post-2008 recession when consumption was dropping in many neighbouring countries. Belgium has a high taxation level but this is also resulting in a relatively fair redistribution of wealth. Household consumption growth 2008-2017* Belgium Luxembourg Germany EU-28 France Euro Area Netherlands Italy Spain

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

* Source: Eurostat 10


Retail Destination Belgium

CONSUMPTION

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Cushman & Wakefield

O P E N A N D I N T E R N AT I O N A L M A R K E T

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Retail Destination Belgium

BELGIUM, WIDE OPEN TO THE WORLD Belgium is located in the heart of western Europe, with 80% of Europe’s purchasing power within 500 miles. Its is a major gateway to 500 million european consumers with important ports like Antwerp, Ghent and Zeebrugge. The capital Brussels is also the capital of the European Union with large numbers of expatriates and hosting many other international organisations like NATO. No wonder that Belgium scores high in indexes of globalisation; according to the KOF index Belgium is the third most globalised country in the world after the Netherlands and Ireland. 92 91 90 89 88 87 86 85 84 83

U K en m ar k A us tr ia G er m an y Fr an ce Fi nl an d N or w ay Sp C ai ze n ch R ep H . un g ar y D

Sw

itz

er la N et nd he rla nd s B el gi um Sw ed en

82

KOF Index measures 25 variables indicating degree of integration into world economy. KOF stands for Konjunkturforschung (Business cycle research) 13


Cushman & Wakefield

INTERESTING RETAIL TEST MARKET Belgium has three official languages: French, Dutch and German. And in many business environments English is the main third language. The country is located at the crossroads between three major European cultures: Germanic, Anglo-Saxon and Latin cultures.Many international retailers have used Belgium as a entry test market for Europe. Codata figures show that Belgium has on average 49% of cross-border retailers, one of the highest figures in Europe.

Belgium

Germanic

Latin

14

Anglo-Saxons


Retail Destination Belgium

TEST MARKET

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Cushman & Wakefield

LO G I ST I C R E TA I L H OTS P OT

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Retail Destination Belgium

LOGISTIC HOTSPOTS NEARBY 80% of Europe’s purchasing power and 500 million european consumers live within 800km from Brussels. With major ports like Antwerp and Rotterdam nearby, Belgium and the southern part of the Netherlands are logistic hotspots for retailers. Many of them, like Nike, have important distribution centres in or nearby Belgium

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Cushman & Wakefield

PHYSICAL RETAIL BELGIUM MORE RESILIENT Belgium is in the top-ten of the most densely populated countries in the world. All categories of retail are well developed including an out-of-town segment where all categories of goods can be purchased (in the Netherlands it is prohibited to sell fashion products in out-of-town retail locations, not in Belgium). As a result, physical retail is available for most Belgians within a very limited distance.

4.88%

3.88%

3.23%

3.15%

2.89%

2.53%

2.43%

2.33%

2.28%

2.16%

2.13%

2.12%

2.08%

2.07%

1.98%

C

Po l

a ze Po nd ch rt -R ug ep al ub lic Sp ai n R us si Ire a la nd B el gi u G m re ec e A us G tria er m a Sw ny ed N et en he rla n N ds or w ay Fr an ce Fi nl an U D ni en d te m d a K in rk gd om

1.88%

7.16%

This is probably the main reason why in Belgium physical retail seems to be more resilient versus the growth of e-commerce than in other neighbouring countries: in Belgium online sales now represents 2.16% of the GDP, versus 2.43% in Germany, 2.89% in the Netherlands, 3.23% in France, and in the UK even 7.16%.

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Retail Destination Belgium

PHYSICAL STORES VERSUS E-COMMERCE

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Cushman & Wakefield

E-COMMERCE

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Retail Destination Belgium

E-COMMERCE SALES VOLUME GROWTH BELGIUM* Like everywhere else in the world e-commerce is growing rapidly in Belgium, although yearly growth figures are slowing down from 18.5% in the period 20102013 to 14% in the period 2014-2017 (Source: www.eurocommerce.eu)

Higher educated people shop online more regularly: some 75% of them shopped online in the previous twelve months, whereas of other social categories only 50% bought via internet. 12 10 8 6 4 2 0 2010

2011

2012

2013

2014

2015

2016

2017

2018

*In Billion Euros

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Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter..

CONFIDENTLY GLOBAL, EXPERTLY LOCAL

COUNTRY COVERAGE Argentina Australia Austria Bahrain Belgium Botswana Brazil Bulgaria Canada Chile China Colombia Costa Rica Croatia Czech Republic Democratic Republic of Congo Denmark Estonia

Finland France Georgia Germany Ghana Greece Hungary India Indonesia Israel Italy Japan Kazakhstan Kenya Korea, Republic Of Latvia Lesotho Lithuania Luxembourg

Macedonia Malaysia Mexico Namibia Netherlands New Zealand Nigeria Northern Ireland Norway Pakistan Peru Puerto Rico Philippines Poland Portugal Qatar Ireland, Republic of Romania Russia

Saudi Arabia Singapore Slovakia South Africa Spain Swaziland Sweden Switzerland Taiwan Thailand Turkey Ukraine United Arab Emirates United Kingdom United States Vietnam Zambia Zimbabwe

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400

OFFICES

70+

COUNTRIES

51,000

EMPLOYEES

â‚Ź8.2B

2018 REVENUE

3.6B

SF MANAGED


Retail Destination Belgium

W E L C O M E T O T H E C E N T R E O F W H AT ’ S N E X T.

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Cushman & Wakefield

C U S H M A N & WA K E F I E L D R E TA I L T E A M B E LG I U M

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Retail Destination Belgium

BRINGING IDEAS INTO ACTION Our retail team provides services for occupiers, landlords and investors. We commercialise market retail properties on a local and global basis. We are a one-stop-shop for retailers looking to grow their business internationally, from new market entry and location strategy to international agency. From shopping centres and retail parks, to high streets and factory outlets, our retail specialists leverage their vast industry knowledge, expertise and global perspective to meet your goals.

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Cushman & Wakefield

HIGH STREETS RETAIL BELGIUM

Tommy Hilfiger - Koophandelsplein 1 - Ghent - ± 363 sq m

Esprit - Vinave d’Ile 21-23 - Liège - ± 419 sq m

Weekday - Leuven - Diestsestraat 100-104 - ± 1,302 sq m

Burger King - Ghent - Korenmarkt 17 - ± 725 sq m 26


Retail Destination Belgium

Pearle - Antwerp – Meir 105 - ± 390 sq m

Van Haren - Antwerp - Meir 35 -

Primark - Brussels - Chaussée d’Ixelles 63 - ± 8,839 sq m

± 1,324 sq m 27


Cushman & Wakefield

SHOPPING CENTRES RETAIL BELGIUM

Wijnegem

Médiacité

60,000 sq m, 250 units

48,000 sq m, 125 units

City 2 28

51,000 sq m, 105 units


Retail Destination Belgium

Primark

Meir - Antwerp Âą 6,723 sq m

Rive Gauche

Docks

39,000 sq m, 90 units

49,000 sq m, 100 units

Waasland

47,000 sq m, 134 units

Tournai Les Bastions 29

42,000 sq m, 102 units


Cushman & Wakefield

OUT OF TOWN RETAIL BELGIUM

Shopping Cascade - Drogenbos (28,000 sq m)

Crescend’eau

Malinas

be-Mine Beringen, 15,000 sq m

- Mechelen (27,500 sq m) 30

Verviers, 1,000 sq m


Retail Destination Belgium

Primark

Meir - Antwerp Âą 6,723 sq m

Shopping Hognoul Hognoul, 14,000 sq m

Shopping Park Waterloo Richelle

Wavre, Parc de l’Europe - (11,000 sq m)

The Leaf Retail Park 31

Waterloo, 28,000 sq m

Ternat, 28,000 sq m


Cushman & Wakefield

SERVICE LINES RETAIL BELGIUM

Lease Advisory

Investment

Asset Management

We advise on the value and occupational implications through marketing, lease drafting, rent reviews, lease renewals and re-gearing.

We advise on how best to maximise the returns of either a single asset or a portfolio through sale, acquisition, or sale and leaseback.

We assist clients with strategy, benchmarking and the creation of secondary income through property & asset management.

Tenant Representation

Valuation

Experience and Resources

We help tenants identify and align strategic business, financial, and operational objectives with real estate requirements.

Our valuation & advisory department is market leader in retail valuations. We have an unrivalled track record in all retail markets for major clients.

Our retail teams are active in the United States, Asia and Europe and work together through a global team based in London to share market knowledge.

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Retail Destination Belgium

RESEARCH SUPPORT PROFESSIONAL CONSULTANCY BY AN EXPERIENCED TEAM

MARKET-LEADING REAL ESTATE INFO

CATCHMENT AREA ANALYSIS

> Rents and yields data and history

> Socio-Demographic and spending data for drivetime catchments

> Leasing transactions data and analysis > Investment data and volumes

> Model-driven catchment forecasts for new developments and enlargements

MARKET ENTRY SUPPORT

COMPETITOR ANALYSIS

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Cushman & Wakefield

I N T E R N AT I O N A L R E TA I L E R S

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Retail Destination Belgium

International retailers that have opted for Belgium after guidance from Cushman & Wakefield

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Cushman & Wakefield

C U S H M A N & WA K E F I E L D MARKET PRESENCE R E TA I L B E LG I U M

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Retail Destination Belgium

2018 RETAIL BELGIUM

MARKET SHARES ALL SEGMENTS

33,5%

On a total take-up of 434,000 SQ M HIGH STREETS

28%

SHOPPING CENTRES

OUT OF TOWN RETAIL

29%

38%

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Cushman & Wakefield

TEAM

Jean Baheux

RETAIL BELGIUM

M: +32 478 96 08 61

Head of Retail Agency T: +32 2 546 08 61 jean.baheux@cushwake.com

High Streets

Brussels/Wallonia Nicolas Diercxsens

Jonathan Delguste

Victoria Tanret

Partner

Senior Account Manager

Account Manager

T: +32 2 510 08 30

T: +32 2 510 07 05

T: +32 2 510 07 06

M: +32 479 78 08 30

M: +32 491 34 77 33

M: +32 478 35 30 75

jonathan.delguste@cushwake.com

victoria.tanret@cushwake.com

nicolas.diercxsens@cushwake.com

Guy Rietens

Philippe Kenens

Julie De Bruyn

Partner

Associate

Senior Account Manager

T: +32 2 510 08 24

T: +32 2 514 40 00

T: +32 2 510 08 20

M: +32 476 83 58 24

M: +32 468 56 79 00

M: +32 473 69 02 55

guy.rietens@cushwake.com

philippe.kenens@cushwake.com

julie.debruyn@cushwake.com

Flanders

Simon de Vooght Account Manager T: +32 2 546 08 88 M: +32 492 22 70 05 simon.devooght@cushwake.com

Nicolas Diercxsens Account Manager T: +32 2 510 07 06 M: +32 478 35 30 75 nicolas.diercxsens@cushwake.com

Shopping Centre Kurth Marissens

Boris van Haare Heijmeijer

Niels Busschots

Associate

International Partner

Senior Account Manager

T: +32 2 510 08 21

T: +32 2 546 08 53

T: +32 2 510 07 14

M: +32 478 90 08 21

M: +32 475 25 79 03

M: +32 491 90 87 70

kurth.marissens@cushwake.com

boris.vanhaareheijmeijer@cushwake.com

niels.busschots@cushwake.com

Dogan Delmoitie Account Manager M: +32 499 92 17 75 dogan.delmoitie@cushwake.com

Sarah De Pauw Account Manager T: +32 2 512 04 42 M: +32 496 26 29 31 sarah.depauw@cushwake.com

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Retail Destination Belgium

Out of Town Retail Kenneth Verloo

Jean Baheux

Xavier van Delft

Partner

International Partner

Associate

T: +32 2 510 08 13

T: +32 2 546 08 61

T: +32 2 510 08 25

M: +32 478 81 08 13

M: +32 478 96 08 61

M: +32 473 74 88 25

kenneth.verloo@cushwake.com

jean.baheux@cushwake.com

xavier.vandelft@cushwake.com

Jeroen Charlier Associate T: +32 2 546 08 74 M: +32 479 75 58 79 jeroen.charlier@cushwake.com

Renaud Slegers Account Manager M: +32 479 21 02 37 renaud.slegers@cushwake.com

Research Services CĂŠdric Van Meerbeeck

Shane O’Neill

Nigel Beller

Head of Research Belgium & Luxembourg

Senior Research Analyst

Research Analyst

T

T

T

+32 2 629 02 86

+32 2 510 08 33

+32 2 510 08 18

M +32 477 98 11 83

M +32 473 26 68 31

M +32 473 94 36 30

cedric.vanmeerbeeck@cushwake.com

shane.oneill@cushwake.com

nigel.beller@cushwake.com

Arnaud de Bergeyck

Kris Peetermans

Haike De Vogelaere

Retail Investment

Valuation & Advisory

Asset Services

T

T

T

Professional Services +32 2 546 08 77

+32 2 546 08 76

+32 2 629 02 50

M +32 475 42 32 70

M +32 475 73 67 07

M +32 475 83 52 17

arnaud.debergeyck@cushwake.com

kris.peetermans@cushwake.com

haike.devogelaere@cushwake.com

Retail Agency Luxembourg Virginie Chambon

Marine Fetique

Cynthia Mitidieri

Partner

Senior Account Manager

Junior Consultant

T: +352 27 21 33 04

T: +352 27 21 33 06

T: +352 27 21 33 32

M: +352 661 799 406

M: +352 661 799 407

M: +352 661 758 931

virginie.chambon@cushwake.com

marine.fetique@cushwake.com

cynthia.mitidieri@cushwake.com

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Cushman & Wakefield Belgium Avenue des Arts-Kunstlaan 56, 1000 Bruxelles-Brussel Belgium info.brussels@cushwake.com www.cushmanwakefield.be +32 02 514 40 00

Profile for Cushman & Wakefield Belgium

Retail Destination Belgium  

This is actually the most challenging question for both national and international retailers in the setting up of their future strategy. Sho...

Retail Destination Belgium  

This is actually the most challenging question for both national and international retailers in the setting up of their future strategy. Sho...