European Shopping Centre Market Reaches Maturity as Growth in New Space Slows

New research from Cushman & Wakefield has revealed European retail park floorspace increased by 2.2% in 2018, reaching a total of 50.1 million square metres (sq.m), with France and Spain leading the way in terms of new schemes.

The rate of shopping centre development in Europe is slowing, with completions down 23% year-on-year at 3.8 million sq m 2017, according to Cushman & Wakefield’s latest European Shopping Centres report.

As shopping centre markets reach maturity in most European countries, there will be growing polarisation between successful prime schemes and struggling secondary sites which are having to diversify to survive, according to new research from Cushm

Increased repurposing expected of existing secondary retail space to office, residential and other uses. A total of 2.6 million square metres of new shopping centre space was completed in 2018, 28% below the 2017 figure.

European retail guide 2013: Shopping centres

European retail guide 2014: Shopping centres

In a world being increasingly driven by digital and automation, the retail and logistics sectors are becoming blurred. This is having a significant impact on their respective real estate sectors.

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