Overview

European Retail Profile 2011
Istanbul
Overview
Despite the growing importance of shopping centres, Istanbul’s
retail culture is still dominated by the high street. Istiklal Street is
the dominant pitch on the European side, along with Nişantaşi
district which caters for upmarket brands. On the Asian side,
Bagdat Street is the most well known and popular area, featuring a
range of local and international brands. The Kadikoy district also
continues to perform well.
Location/ 30-Minute Drive Time Study Area Information
Istanbul
City Profile
Ranking*
9,456,196
2nd
Study Area Purchasing Power / Capita
€8,179
50th
GDP Forecast 2010 to 2015 (% pa)
5.39%
4th
Consumer Spending Forecast
2010 to 2015 (% pa)
5.49%
3rd
134
7th
Study Area Population
Cross-Border Retailer Attractiveness Index*
(Average = 100)
*based on analysis of 55 European cities
GDP & Consumer Spending source: Oxford Economics 2011. Study Area source: MBI 2010.
Key Retail Entrants
During 2010 / 2011
High Street Prime Rental
Information for Nişantaşı
İstiklal Street
High Street: Istanbul has until recently seen strong rental growth
on the high street, largely due to the limited supply of prime units
which has been augmented by a rise in international retailer
demand. Key monies have increased drastically as a result.
In addition, the market has seen a strong demand for flagship
stores on the main streets. For example, one of the major
transactions has been undertaken by Zara for a flagship store on
Istiklal Street, with an annual rent of €2.3 million, while Mango has
bought a building to open its second flagship store on the Istiklal
Street.
Jacadi
Prime Rent
(€/sq m/year)
€2,040
Prime Rent
(TL/sq m/year)
TL4,798
Rituals
Carl’s Jr
Uterqüe
Short-Term
Rental Forecast
Stable
Prada
Shopping Centres: Akmerkez is one of the oldest (1993) and best
performing schemes in the heart of the CBD. Kanyon is a high-end
scheme with a strong entertainment component, though it arguably
falls short in its current fashion line-up. Conversely, İstinye Park
combines luxury and mass-retail brands to excellent effect and has
been successful in attracting the first stand-alone luxury brands to
Istanbul. Zorlu shopping centre will open with 120 stores in early
2012 and will provide a major new fashion destination in the centre
of the city. The 163,000 sq m Mall of Istanbul is due to open in
2013 and is likely to change the retailing landscape in Istanbul.
Istinye Park
Opening
Year
GLA
(sq m)
Location
Forum İstanbul
2009
175,000
City Centre
Ikea, Real, Praktiker, Bimeks, Teknosa, Boyner, H&M, Zara, C&A
-
Marmara Forum
2011
137,000
City Centre
Carrefour, Bauhaus, LCW, Zara, Saturn, Teknosa, TepeHome
-
İstanbul Cevahir
2005
111,000
City Centre
Migros, Koçtaş, Debenhams, TepeHome, Massimo Dutti, Topshop
Torium
2010
95,000
City Centre
5M Migros, Boyner, YKM, C&A, Zara, H&M, Mango, Marks & Spencer, Sephora
12
Shopping Centre
Key Anchors/Tenants
Annual Visitors
(Million)
18
-
İstinye Park
2007
85,000
City Centre
Darty, H&M, Beymen, Vakko, C&A, Louis Vuitton, Gucci, Hugo Boss, D&G,
Paul Smith, Armani, Burberry, Ralph Lauren, Zegna
Via/Port Outlet
2008
64,000
Edge of Town
Tesco Kipa, Beymen, LCW, Tommy Hilfiger, Mango, Mudo, Cacharel, Vakko
-
Optimum Outlet
2008
46,000
City Centre
3M Migros, Koçtaş, LCW, Mudo, Beymen, Koton, US Polo
-
Kanyon
2008
38,000
City Centre
Macrocentre, Harvey Nichols, Vakko, Network, Max Mara, Tiffany
-
54
Cd
Market Profile – Istanbul 2011
Eth
em
Sk
Ba
gd
at
St
ree
t
M&S
Co
Cd
Kom u Firin
lak
Beymen
il S
Godiva
Cd
Ism
a
Tommy Hilfiger
ltay
una
T op
uzlu
B ay
ar C
d
nG
mil
ma
m
etti
ms
Se
Por
. Ce
Ha
Efe
ndi
€1,800
k
Em
in A
Facconable
li P
asa
Cd
Zara 1
lu
yo
an
0Y
E8
Boyner
Burberry
Mango
GAP
Vakko
ey
lipb
Ga
Benetton
Cd
Zara 2
Louis Vuitton
Sk
hme
t
Va
d
Eytam C
t Cd
Cd
su
t Cd
S ay
Refik
Macka Cd
d
sen C
Bershka
ks
Eytam Cd
Vakko
Defacto
azke
Bogg
Camper
Y
ci
ara
mb
Ku
Cd
Cu m
huri
ye
d
New Balance
Cd
iye
i
kc
Herme
s
Nordsee
Mango
Darty
k
svi
Te
Ipe
Chanel
Nike
iC
ars
Beymen
Collezione
€2,040
di
Ab
€
Lacoste
Mango
ni C
Ye
Massimo Dutti
M&S
Prada
et
tre
Colin’s
dam
Zara
1
Louis Vuitton
lS
ik a
Is t
2
nci
M es
rutiy
e
Cd
Starbucks
Godiva
Benetto
n
Six
li K
on
ag
i
Cd
Bay
tar
A
Cafe Nero
me
li
Converse
new
concept
store
Nordsee
d
si C
Halaskargazi Cd
Ru
Mango
alba
Ha m
Ru m
eli Cd
Shopping Centre/
Department Store
Railway Station
1
City’s SC
Prime Rent
Metro Station
2
Demirören SC – Construction
Jones Lang LaSalle Contacts
Nilgun Dil Erman, Head of Retail Agency Turkey
James Dolphin, Head of EMEA Retail Agency
Julie Collins, EMEA Retail Research
+90 212 350 0812
+44 20 7852 4623
+44 20 7399 5940
€1,920
Topshop
Polo Garage
asi Blv
Tarlab
Siraselviler Cd
Stradivarius
Oysho
Starbucks
Adidas
Nisantasi
Pull & Bear
De f
terd
ar Y
oku
Nişantaşı
[email protected]
[email protected]
[email protected]
COPYRIGHT © JONES LANG LASALLE IP, INC. 2011. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means
without prior written consent of Jones Lang LaSalle. It is based on material that we believe to be reliable. Whilst every effort has been made to ensure its accuracy, we
cannot offer any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them.
55