Peripheral Retail Space in Belgium in 2006.

24 Jan, 2007, BRUSSELS

The most remarkable trend of the year 2006 in terms of retail warehousing clearly was the steady growth of demand, and the further internationalization of the market. Retailers which are traditionally bound to city centers demonstrated a new interest in peripheral locations (for instance Kruidvat, or Hema), and major international groups (such as C&A and Blokker) continued their intensive expansion with openings in the periphery. Apart from the very trendy retail parks, stand-alone peripheral shops are doing great, fully stating their functionality. The limited qualitative offer generates a positive pressure on rent prices, which concordantly follow an ascending curve. Among the retailers with the most impressive expansion for the year 2006 are Krëfel, JBC and the food discounters Lidl and Aldi. Redevco took care of the conversion of former Ikea sites in Zaventem and Hognoul into retail units which were let to retailers specialized in home refurbishment. In addition to this, Action (a Dutch retailer) and Zoomart (a German retailer) thunderously entered the market, which nevertheless remains dominated by its historical players. The most demanded locations in the Belgian retail warehouse market are in Antwerp (Bredabaan), Drogenbos, and Zaventem (on the former IKEA site), with rents ranging between 150 and 165€/sq.m./year, and more.

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