TOTAL VOLUMES SLIGHTLY ABOVE PREVIOUS YEAR'S LEVEL
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At the end of the year, the retail investment market can look back on a solid 2025 as a whole: With a transaction volume of around €6.5 billion, the current result is at a comparable level to the previous year (+3% compared to 2024). The final quarter made a decisive contribution to this, at almost €2.4 billion marking the best quarterly result since Q3 2022 (around €3.6 billion). This was once again mainly due to sales-driving special effects: With the Oberpollinger and the Corbinian in Munich and the Karstadt on Berlin's Kurfürstendamm, three large-volume Signa properties in the three-digit million segment changed hands between October and the end of December. Apart of these major deals, investments of between €25 million and €50 million are noteworthy. They were particularly in the focus of demand due to their attractive risk-return profiles, and here with view to smaller shopping centres and retail parks, but also in the high-street sector (around €1.2 billion and +83% compared to 2024).
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The complexity of the market at the moment is also underlined by the fact that all types of properties benefit from sales in the three-digit million range. Despite all this, the retail warehouse sector clearly confirms its top position (a good 48%) thanks to the takeover of the Porta Group from XXXLutz as well as larger food and retail park portfolios, among other things. In the case of department stores (almost 20%), the former Signa properties are particularly important, in the case of shopping centres, in addition to the designer outlets Neumünster and Wustermark, the Gropius Passagen in Berlin are among the drivers. In the high street segment (around 13%), two major luxury high street properties in Düsseldorf are primarily to be mentioned.