International chain stores are flocking to Berlin like bees to honey, according to a new report by independent property advisor Winters & Hirsch. When the current revamp of Alexanderplatz is complete, the city's central square and public transport hub will boast some 165,000 m[sup]2[/sup] of sales floor, twice its pre-transformation figure. The extent to which chain stores occupy prime city centre locations has already reached 80%, and covers both ends of the market, from Versace, Gucci and Louis Vuitton to H&M and Benetton.
International chain stores are flocking to Berlin like bees to honey, according to a new report by independent property advisor Winters & Hirsch. When the current revamp of Alexanderplatz is complete, the city's central square and public transport hub will boast some 165,000 m2 of sales floor, twice its pre-transformation figure. The extent to which chain stores occupy prime city centre locations has already reached 80%, and covers both ends of the market, from Versace, Gucci and Louis Vuitton to H&M and Benetton.
Philipp Tabert, managing director at Winters & Hirsch, put the city's popularity amongst international chain stores and single label stores down to the 'comparatively inexpensive rents and the city's positive image'. 'Chain stores,' he adds, 'are also seen as good tenants by investors because they can act more independently to economic fluctuations in the individual countries'.
