This new publication analyzes sales and rental prices, yields as well as the type of store and the trends of the main retail cores of the city. It is intended as a response to the current absence of detailed research on this sector, positioning itself again as a reference.
According to Forcadell’s new report of main cores of retail activity in Barcelona, the Catalan Capital offers a wide range of retail activity distributed in 22 basic zones, from which Forcadell highlights 10 for their singularity. Each one of them has its own identity, comprised by its commercial supply, consumer habits, socio-economic status, prices of premises, etc.For instance, just as Passeig de Gràcia has become a worldwide showcase of luxury, Sarrià stands out for its local retail premises linked to a long-standing tradition legacy. There are two major lines which identify these retail cores: the 1st Line, with high-density developments and higher prices and 2nd Line with local stores and higher yields for investors.
Eixample is a landmark retail core with wide streets and sidewalks, together with modernist architecture buildings and a large concentration of neighbours, tourists, and professional servicers working in the zone. This area has a high rate of occupancy, comprised mainly by premises belonging to the Services and Hotelier, Restaurant and Bars sectors. These sectors represent more than half of commercial fabric of this zone. Yields in the 2nd Line of Cor Eixample are among the highest in City of Barcelona.
This main core starts in the Creu Coberta street and continues further on until it reaches a part of Sants street. Its commercial tradition dates back 200 hundred years and it is considered one of the most dynamic areas of Barcelona. The majority of its premises are active, and grouped by sectors, belonging mainly to Services (27, 5%) Hotelier, Restaurant and Bars (22%) and Personal Facilities (16%) according to data published by the Fundació Barcelona Comerç. The zone has also plenty of franchises.
The Eix Clot retail core is located around the Clot Station, and has pedestrian zones and pleasant areas to go for a walk. The commercial zone, which is currently in an expansion phase, has a high activity rate with 80% of its retail premises working fully. This area has a large supply of local stores and a smaller percentage of franchises and shopping chains. The 2nd Line of the Eix Clot offers very attractive yields for investors.
The retail core of Sagrada Familia is based in the surrounding area of the Temple, and has a great affluence of neighbours as well as of tourists. The zone has an activity rate of over 83%, of which almost 50% work in the Service and Hotelier and Restaurants and Bars sectors, according to data supplied by the Fundació Barcelona Comerç. Compared to the rest of the zones in Barcelona, it has the highest rent average of the 1st Line, €55/sqm/month in the H1 2018.
The Sant Andreu retail core stands out for its high percentage of premises destined to the Services and Personal Facilities sectors. Compared to other zones of Barcelona, the rate for Restaurant and Bars premises is lower than in other areas, less than 15% according to the Fundació Comerç Bcn. To avoid neighborhood gentrification, in some of its streets licenses to open new retail premises have been currently suspended, specifically for certain type of businesses like souvenir shops.
The transformation of the Sant Antoni neighborhood, as a result of the reform and upgrade of the local Fresh Foods Market has led to an increase in demand for retail premises in the area. Investors, and specifically those of local origin have augmented their interest in the zone regardless of limits posed by the suspension of new licenses to open new stores. The Sant Antoni retail core has registered the highest increases in the last fiscal years, although rents are still affordable: €25/sqm/month.
The retail core in Sant Gervasi stands out for having a very high activity rate: 88% of its premises are occupied, according to the Fundació Comerç Barcelona. The zone has multiple establishments in the Services and Personal Facilities sectors, and it is a well-known neighbourhood for offering high quality products and the best customer service. The area presents high yields, in the 1st and 2nd Lines of 5,7% and 6,7% respectively.
The retail core Sants–Les Corts has a very low index of franchises that does not exceed a 1,8% of the retail supply, due to the great acceptance of the local stores and proximity small business trade. More than 55% of the establishments of the zone are destined to the Service sector and Hotelier and Restaurant and Bars sectors. The 2nd Line offers the highest yields in Barcelona, 6, 7%.
Sarrià has a very dynamic commercial fabric with an extremely high occupancy rate, 94, 6%. This main core is characterized for its proximity stores of traditional style that aim for customer loyalty. The zone has multiple pedestrian streets and ample spaces, a fact which enables a great affluence of people, essentially from the neighbourhood and the close vicinity. According to sectors, 1 of every 3 establishments belongs to the Services sector and 1 of every 10 to the Restaurants and Bars sector.
Vila de Gràcia
The commercial fabric of the retail activity in the Vila de Gràcia is focused in 2 main cores: the Gran de Gràcia street and a combination of streets that surround the Plaza del Sol. The area presents a variety of sectors, with a high presence of franchises in the area of Gran de Gràcia, and of proximity small business stores which are found in the area of the centre of the neigh-bourhood. After Sagrada Familia, it is the retail core with the highest price per sqm in the first Lines, €45/sqm/month.