Prague,
22
May
2018
|
09:00
Europe/Amsterdam

Shops of seven new premium brands have appeared on Prague’s high street Pařížská - Céline, Brunello Cucinelli, Hogan, Philipp Plein, Valentino, Elisabetta Franchi and Furla

Pařížská Street remains the most expensive street in Central and Eastern Europe, with prime rents going for 225 EUR/m2/mth and prime rents of 220 EUR/m2/mth being seen on Na Příkopě Street

According to a study performed by CBRE, the world leader in commercial real estate services, the Céline, Brunello Cucinelli, Hogan, Philipp Plein, Elisabetta Franchi and Furla brands have opened in Pařížská Street in the last six months. Due to the lack of retail space, Prague’s high street has expanded to the adjacent streets such as Na Příkopě.

Tomáš Beránek, Associate Director, High Street Retail and Tenant Representation, CBRE
Pařížská Street still pulls in the highest rent in the Czech Republic and interest of premium brands to open shops there isn’t declining. A number of new stores were opened over there last year. However, there haven’t been many changes carried out in terms of real estate itself, with long-term tenants frequently only changing the concept in their space. Pařížská Street attracts only the strongest players. Aside from premium and world-renowned brands, only strong local groups, that have luxurious fashion brands in their portfolio.
Tomáš Beránek, Associate Director, High Street Retail and Tenant Representation, CBRE

CBRE expects this stable trend to continue in 2018. Luxury brands previously located elsewhere are trying to move their shops to Pařížská Street. CBRE has also been monitoring the market and is registering aserious demand of several high-profile brands to open a shop in the prestigious area.

And how do rental rates look in other markets around the world?

Top 10 global high streets ranked by rental rates in premium locations:

Market

EUR/sq m/mth

New York

2,291

London

1,436

Hong Kong

1,290

Paris

990

Tokyo

915

Sydney

823

Beijing

740

Zurich

696

Singapore

601

Guangzhou

591