IP03

82 // iberian.propery / 2017

dossier// ISSUE: TOP IBERIAN cities

Retail

High street retail:

191

191.000 m² of GLA in stock

in the city of Porto’s prime

locations (Baixa, Clérigos, Boavista & Cedofeita

,50

Prime rent: 57.50€/m²/month

(Rua de Santa

Catarina, in the Baixa district), while the average rent

varies between 25-30€/m²/month

.200

Rua de Santa Catarina (Baixa)

is the street with the

greatest footfall in Portugal: 4.200 people/hour at the

busiest period (+20% than in 2007). Source: CBRE

Shopping Centres:

780

780.000 m²

of GLA in stock

Increase

in supply should remain stagnant over the

next years

Zone

Average Rent

(€/m²/month)

Boavista

12-14

Baixa

8-11

Oriental

8-10

ZEP

10-12

Maia

8-10

Matosinhos

8-10

Vila Nova de Gaia

8-10

source: Cushman & Wakefield / Predibisa – Q1 2016

OFFICES

Extremely dynamic demand:

Greater Porto Area is an increasingly popular

destination to set up companies

40.000 m² taken up in 2016,

and this

number is expected to increase in 2017

(Source: CBRE)

1.5 million m² in stock

in the Greater Oporto

Area, distributed across 400 projects. Only 13%

of the stock is owned by institutional investors,

representing little more than 200.000 m² (source:

Confidencial Imobiliário - Porto Business Location

Plataform (PBLP), Cushman & Wakefield/ Predibisa)

11.8% - Vacancy Rate 2016

(source: Confidencial Imobiliário - Oporto Business

Location Plataform (PBLP), Cushman & Wakefield/

Predibisa)

Leading occupants (2015/16):

Natixis Bank (12.000

m²), Blip (5.000 m²), Euronext (3.000 m²), Farfetch

(6.000 m²), Webhelp (2.200 m²)

16€/m²/month

–

prime rent Q1 2017

(source: Cushman & Wakefield)

Opportunities & Challenges:

Affirming Oporto as a destination for large

multinationals to set up BPO and shared services

centres, with an increase in demand for areas

measuring 1.000 m² or more

Only 10% of the stock on offer is considered high

quality, thereby limiting the immediate satisfaction of

more stringent requirements by demand

Prospects

: in a near future, the Greater Oporto Area will consolidate

its growing attractiveness among the international market of office

demand. The increase of supply in quantity and quality will happen,

with regeneration as the principal driver. The market’s level of

professionalismwill also increase, as well as its transparency and

liquidity, which will give it an even more attractive profile to capture

growing institutional investment.