Dublin has made the top five markets for the fastest growing prime retail rents in the world, according to the recently published CBRE’s half yearly research report Global Prime Retail Rents.
The research is based on the retail rent per square foot that retailers reportedly have to pay every year to occupy a shop in a prime location.
Ireland's capital was one of the EMEA cities to experience a 'higher than average increase in high street retail rents' in the year to the end of Q1 2017, up 10.5% in the period.
Bernadine Hogan of CBRE Retail said, "Demand for quality retail space in Dublin remains robust and the arrival of brands such as Victoria’s Secret and & All Other Stories onto Grafton Street has further underlined the importance of these prime shopping destinations."
Hogan advises that the retail sector is rapidly evolving and is a highly competitive market, therefore, retail brands must focus on targeting consumers across multiple channels.
"The physical store remains an important part of the consumer journey and retailers will continue to target prime bricks-and-mortar locations to grow their brand." She said.
London’s New Bond Street has taken the top spot for the fastest growing prime retail location in the world.
© 2017 - Checkout Magazine by Donna Ahern