Location Group Research: New Prime Rents in Excess of CHF 15,000 for Watch Stores on Zurich's Bahnhofstrasse
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The sixth Retail Market Study carried out by the Location Group covers more than 1,500 pages and reviews a total of 150 international cities and jet set resorts in the fashion world. The study analyses over 3,000 store openings, 1,000 retailers, 800 shopping streets and 500 shopping centres. So far, the research has reached more than 100,000 readers.
Prada pays Burger 23 million
In Zurich, Prada has managed to buy out Olivier Burger from the lease of his eponymous flagship store on the Bahnhofstrasse, located between Burberry and Chopard. The amount of key money remains secret, but according to insiders it can be assumed to be around 23 million Swiss francs, because at around 650,000 francs a year the rent amounts to only a fifth of the achievable market rent.
The Trois Pommes store glitters once again in the former Alfred Day store. Trudie Götz has taken over Bruno Bencivenga's store, located next door to Tiffany, and transformed the dusty Alfred Day into a glittering jewel, The Store by Trois Pommes. The opening was attended by more than 800 guests.
Jewellers move into the Bahnhofstrasse and pay record amounts. Van Cleef & Arpels have convinced the Gschwend and Bindella families to give up the Zett Meyer business and replace the multi-brand concept with a mono-brand store.
EFG Bank is pleased that the visual image of its reception hall has been enhanced by the presence of glittering diamonds thanks to Graff Diamonds, but it is even more pleased with the annual rental income of more than a million francs.
Finally, after more than a year of negotiations, Hublot has convinced Les Millionaires to move out two years before the end of the lease. The store will open in the spring. The privilege will cost a premium of over 15,000 francs per square metre.
In the former Douglas perfumery in the Clariden Leu building, Bucherer celebrated its opening on the Bahnhofstrasse, together with Audemars Piguet and Jaeger-LeCoultre, last autumn.
Previously, these premiums have been paid by Piaget to buy out the florists, Blumen Krämer, Rolex to move into the "Eidgenoss" building and IWC to take over Juwelier Gut. Again, these transactions involved several million francs of key money.
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