our retail vision is global, our voice international

R E T A I L

Real Estatefor a changing

world

Real Estatefor a changing world

P R O P E R T Y D E V E L O P M E N TT R A N S A C T I O N

C O N S U L T I N GV A L U A T I O N

P R O P E R T Y M A N A G E M E N TI N V E S T M E N T M A N A G E M E N T

REAL ESTATEFOR A CHANGING WORLD

Our retail vision is global, our voice internationalOur retail landscape’s future is not what it used to be. We are in a new and exciting world.

Unprecedented times, where consumers are more demanding and seek a deeper emotional connection to Brands. There has been a major shift from product transactions, buying and selling to integration. All this has been driven by social connection. 40% of people spend more time socialising on the internet than sharing face to face. Virtual visibility is our new currency – don’t share, don’t care attitude. Online is the new oxygen. Consumers today want access to products at any time.

Wherever, however, whenever until we can deliver all products by 3D print this will not change.In this new digital and technical world, the na-tives which inhabit it are driving our latest retail models. Shopping is no longer just about stores, it is about emotional connection, interaction

and the delivery of a story. 68% of consumers believe that retailer’s integrity should equal society’s interest. Loyalty to Brands is now driven by ethics and the consu-mer’s latest experience. However, many Brands still re-cognise there is a need to progress traditional drivers, to think both digital and continue to embrace analogue. We are seeing a return to “bricks and mortar” as Brands appreciate the need to create greater human connectivity

in order to promote their retail story.

At the International Retail Division of BNP Paribas Real Estate we have a strong understanding of the on-going structural changes occurring. We are alive to opportunity for our clients, entrepreneurial and bespoke in our approach. Our International Retail Platform speaks your language and provides innovative and revenue driving solutions.

Myself and my colleagues very much look forward to speaking with you.

2 BNP Paribas Real Estate RETAIL

RETAIL BNP Paribas Real Estate 3

Fiona HamiltonBNP Paribas Real Estate Global Head of International Retail Brands International Investment Group

T R A V E L R E T A I L

G L O C A LD A T A

L U X U R Y

H I G H S T R E E T

F O O D & B E V E R A G E

Luxury has become less about 'what I have' and much more about 'who I am': more ethical, creative, emotionally connected.

Thierry Bonniol Head of Retail Agency France

"The secret to luxury spend to-

day is what consumers do, not

what they own. Brands are re-

considering their own articulation

of value and shifting their focus

from selling products to provi-

ding services and experiences as consumers demand

integrity. They expect the same seamless, convenient

and frictionless experience from legacy Brands as that

provided by tech start-ups. Retailers are responding

with new formats to reach different demographics who

perceive traditional luxury offers as sterile. New models

are developing that reach out to a bigger audience

including pop-up and hybrid stores.

This is further evidenced as luxury Brands extend their

reach by moving to new locations in order to reach this

wider customer base.

Luxury labels are also embracing ‘fast fashion’. Spurred

on by social media, they are sending new items direct

from the runway to retailers. Faster, quicker, giving

customers a reason to keep coming back.

Nevertheless, the fundamentals remain. Luxury conti-

nues to be built around impeccable experience and

service. The ultimate luxury of the future will still require

human interaction, and the delightful personal secrecy

that goes with it."


€253

Personal luxury has more than tripled over the past 20 years. Source: Transparency Market Research (TMR)

billion

Technology is no longer the enemy of physical stores. Now, Big Data is breathing new life into retail, presenting innovative ways for Brands to monitor, engage and personalise their offer to consumers. iCloud, Virtual, Augmented reality.

"Retailers are introducing mo-

bile technologies inside their

shops to extend experience

through flexibility, persona-

lisation, engagement and

instant customer service.

Today’s retailers enhance in-store experience by

blending digital with physical. Queues will beco-

me a thing of the past. Customers can self-help

through robotic or digital technology. iPads today

in-store provide an ever-lasting aisle.

Technology is a two-way street. Retailers benefit

too as they adopt cloud-based apps, which en-

able them to scale quickly, work from anywhere,

and get real-time insights into various aspects of

their business and customers.

The future is already with us, it will find you."

$1.2

The Internet of Things offers a potential economic impact of $410 billion to $1.2 trillion per year in 2025 for Retail Source: McKinsey & Company

Christoph ScharfHead of Retail Services Germany


trillion


The world is our oyster. Leading retailers and Brands no longer expand in just one territory. The world is becoming smaller. More than ever, global expertise coupled with local knowledge is essential to enter new markets. Global, Local, Understanding.

"Local context is important, but

increasingly, aspiration is global.

Consumers from Boston to Beijing

lust after the same smartphones,

wear the same fashion and drink

(almost) the same craft beer.

Glocal is about global Brands which customise their

design to the local culture and local habits, work to-

gether with local Brands and partners often using local

resources and ingredients.

The global consumer is becoming older, more Asian

and more mobile. Urbanisation means ever more

people have the social freedom and economic means

to exercise greater choice, as traditional social struc-

tures fragment. Serving these ‘city-sumers’ requires

Brands to tailor their products and campaigns to

sophisticated urban audiences to ensure not only

that the product is right, but that the Brand un-

derstands their lifestyle and speaks to their de-

sire for social and environmental sustainability.

Brands and retailers are becoming bespoke.

The hyper consumer constantly seeks customer

delight with a local twist."

83%

of retailers believe international growth is important to their future success. Source: The Parker Avery Group

Joanne SkiltonHead of Retail United Kingdom

$100

In the next 10 years, the travel retail sector should double its revenue to reach $100 billion.Source: Exane BNP Paribas

"Travel retail is driven by densi-

ties, often 3-4 times that of the

High Street. Understandable,

considering passenger numbers

across the world’s five busiest airpo-

rts alone are in excess of 400 million.

Even our top shopping centres cannot compete.

Retailers are continually providing innovative and cutting edge

retail models to attract consumer spend. Try a Kit Kat smoothie,

relaxing on a beach bench under a coconut tree with your feet

in the sand; and that’s at Changi airport.

Transumers on-the-go, whether in stations or airports, require

contextually relevant retail experiences that deliver the right (or

interesting) product on time and easily, whether pre-ordered or im-

pulse purchased.

Connected travellers use mobiles as their personal concierge and wayfin-

der for shopping, booking and navigating and retailers are increasingly

tapping in through beacon technology to make personalised offers in order

to entice them to try something new, either a spa session or a different per-

fume. It’s about innovative shopping experiences and the journey."

Look for today’s busiest airports and transport hubs and you will find the great retail developments of tomorrow. Transport hubs are the portals of future retail. Smart, experiential, seamless.

Joël FrancoHead of Retail Shopping Centres Property Spain

RETAIL BNP Paribas Real Estate 7RETAIL BNP Paribas Real Estate 7

billion

Fabrice PaumelleHead of Retail Poland & CEE

The High Street is back but not as we knew it. Online retailers and global Brands embrace innovation to provide a bespoke customer experience that ecommerce cannot match. Touch, Emotion and Story.

"The pure-play ecommerce approach is dead. Retailers are rethinking

online strategy and embracing physical shops as consumers search for

new places to connect, to relax and define themselves.

Bricks and mortar stores are back. They are our new vinyl. Retailers can no

longer rely solely on ecommerce to win and grow market share. Amazon

and Google are opening their first customer-facing branches.

As Brands and retailers continue to embrace new retailing models, we are experiencing a new

style of engagement. Transient, hybridisation and try-advertising grow on the back of new

technical and digital developments.

We are also seeing a shift towards Brands opening stores, from Kellogg’s to Nespresso, from

Samsung to Dreamworks. They too have a story to share. Connection is everything.

Technology is changing the High Street of the future but touch and feel will never disappear."

of all retail sales are captured by retailers with a brick-and- mortar presence. Source: AT Kearney

95%


A food revolution is underway, fuelled by social media and driven by diners' appetite for new and authentic experiences. Street, Organic, Signature.

"As retail becomes more experiential, food and

drink embraces new styles of entry points in de-

velopments, whether on the High Street, in a

shopping centre, office complex or at a transport

hub. They are constantly changing to satisfy cus-

tomers’ need for the new.

Food and drink is much more than fuel today. It increasingly taps in

to key trends, from colocation – hybrid spaces that offer customers

complementary concepts in a single environment. More retail Brands

are embracing food as part of their extended customer experience.

Shoe stores become cafés - Tom’s Venice LA store has everything from

a yoga area to an organic café.

€1.066

EU household expenditure on food and drink products.Source: European Food and Drink Industry

billion

Eating has become democratised as customers search for ethical and

authentic consumption. Linen tablecloths are disappearing. Signature

chefs today pop-up in new transient formats. High end eating is beco-

ming accessible to all. ‘Street food’ is no longer down and dirty – it has

risen from stalls to the global integrity eating and is beginning to appear

across our everyday real estate landscape.

Food and tech continue to embrace to create new customer conve-

nience and experience. teaBOT kiosks allow you to order a custom cup

of loose-leaf tea and share your blends at the touch of a button; New

Jersey’s Newark Liberty International Airport provides 6,000 iPads for

travellers to order food, shop online and check their flights. The world

of food is changing. What do you want to eat tomorrow?"

Eoin FeeneyExecutive Director Retail Transaction Ireland


MAIN LOCATIONSINTERNATIONAL BNP PARIBAS REAL ESTATE RETAIL BRAND COORDINATION:

Fiona HAMILTONGlobal Head of International Retail [email protected] Nathalie DUBREUInternational Retail [email protected]

--------------------------------------------

LOCAL CONTACTS : BELGIUMFREDERIC VAN DE PUTTE C.E.O Belgium [email protected] François VAN DEN BRANDEN Head of Investment Belux [email protected]

Our International Coverage

21ALLIANCES16

MAINLOCATIONS


CEE COUNTRIES: POLAND, CZECH REPUBLIC, ROMANIA, HUNGARY * Patrick DELCOL C.E.O CEE [email protected] Fabrice PAUMELLE Head of Retail [email protected] Del CHANDLER Managing Director Capital Markets [email protected] BONNIOLHead of Retail Agency [email protected] Bruno ANCELIN Head of Retail Investment [email protected] SCHARFHead of Retail Services [email protected] FEENEYExecutive Director Retail Transaction [email protected] Kenneth ROUSE Head of Investment & Finance [email protected] BELLACOSA Head of Advisory [email protected] LIMBOURG Commercial Director [email protected] PLEITER [email protected]ël FRANCOHead of Retail, Shopping Centres Property [email protected] Jaime MAYNAUHead of Investment Retail [email protected] KINGDOMJoanne SKILTONHead of Retail [email protected] WILLIAMSHead of Retail Investment [email protected]

PLATFORMS DEDICATED TO INVESTOR COVERAGEDUBAI, HONG KONGEtienne PRONGUE Head of International Investment [email protected]

ALLIANCE PARTNERS INTERNATIONAL BNP PARIBAS REAL ESTATE ALLIANCES DESK:

Aymeric LEROUXExecutive Director International Advisory & [email protected]élique DELAUNAY Alliances Coordinator [email protected]

LOCAL CONTACTS :

AFRICA: ALGERIA, IVORY COAST, MOROCCO, TUNISIAMaria BELMRAHHead of [email protected] SHOVAL Head of Retail [email protected] Markus METZLER Head of Retail Investment [email protected] STATES: ESTONIA, LATVIA, LITHUANIAJurgita ŠILAIKYTĖ Head of [email protected] GREECE, CYPRUSEvmorfia AVGERIOU Head of Retail [email protected] Yannis PARASKEVOPOULOS General Manager [email protected] PORTUGALPedro SALEMAGARCAO Manager Corporate [email protected] Pedro VALENTEHead of Capital Markets [email protected] **Margarita ZAEVA Head of Retail [email protected] Egor LEVCHENKOHead of Retail Investment [email protected] DENMARK Mathias HARTMANN BONDE Advisor, Valuation, [email protected] - FINLAND Samuli KILLSTRÖM Director Leasing & Retail [email protected] - NORWAY Øyvind JOHAN DAHL Partner, Head of Research [email protected] SWEDEN Bonnie INGGÅRDE Head of Retail [email protected] PARASKEVOPOULOS General [email protected] AFRICA **Steve [email protected] - Patrick PEYROT Head of Investments and Transactions [email protected] Zurich - Carmen FEHRPartner [email protected] [email protected]

* in partnership with our ROBERTSON Alliance - ** Preferred supplier partners


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K E Y F I G U R E S

€ 17.1 bnOF INVESTMENT VOLUME TRANSACTED IN COMMERCIAL REAL ESTATE

5.2 M SQ MOF COMMERCIAL REAL ESTATE TAKEN UP BY OCCUPIERS

3,700 TRANSACTIONS IN COMMERCIAL REAL ESTATEONE TRANSACTION EVERY 17 MINUTES

3,800 EMPLOYEESAND 3,500 PROFESSIONALS VIA OUR NETWORK OF ALLIANCES

2 0 1 5 F I G U R E S

RELEVANTFINANCINGAND BANKINGChoosing to work with BNP Paribas Real Estatemeans gaining the benefit of both an integrated model and a powerful International group.

P R O P E R T Y D E V E LO P M E N T | T R A N S A C T I O N | C O N S U LT I N G | VA L U AT I O N | P R O P E R T Y M A N A G E M E N T | I N V E ST M E N T M A N A G E M E N T

BUSINESS LINESin Europe6

A 360°vision

ContactFiona Hamilton BNP Paribas Real Estate Global Head of International Retail Brands International Investment Group Tel.: +44 (0)207 338 4453 [email protected]

BNP Paribas Real Estate: 167, Quai de la Bataille de Stalingrad, 92867 Issy-les-Moulineaux Cedex - Tel. +33 (0)1 55 65 20 50 SAS with a capital of €383.071.696 - 692 012 180 RCS Nanterre - SIRET 692 012 180 00174 - Code NAF 7010 Z

BNP Paribas Real Estate is a subsidiary of the BNP Paribas banking group Non-contractual document - BNPPRE R 004 - November 2016 - Graphic design and layout: ZED Agency / www.zedagency.fr - Photo credit: Thomas Gogny

Special thanks to: Goupe ADP, La Maison Blanche, Hôtel Providence Paris, Piscine Molitor, J.M. Weston.

EUROPEFRANCE167, Quai de la Bataille de Stalingrad 92867 Issy-les-MoulineauxTel.: +33 1 55 65 20 04

BELGIUM Bd Louis Schmidtlaan 2 B3 1040 Brussels Tel.: +32 2 290 59 59

CZECH REPUBLIC Pobrezni 620/3 186 00 Prague 8 Tel.: +420 224 835 000

GERMANYGoetheplatz 460311 FrankfurtTel.: +49 69 2 98 99 0

HUNGARY117-119 vaci ut. A Building1138 Budapest Tel.: +36 1 487 5501

IRELAND20 Merrion RoadBallsbridge, Dublin 4 Tel.: +353 1 66 11 233

ITALYVia Carlo Bo, 1120143 MilanTel.: +39 02 58 33 141

JERSEY3Floor, Dialogue House2-6 Anley StreetSt Helier, Jersey JE4 8RDTel.: +44 (0)1 534 629 001

LUXEMBOURGAxento Building Av J.F. Kennedy 441855 LuxembourgTél.: +352 34 94 84Investment ManagementTel.: +352 26 26 06 06

NETHERLANDS Antonio Vivaldistraat 54 1083 HP Amsterdam Tel.: +31 20 305 97 20

POLANDAtrium TowerAl. Jana Pawla II 2500-854 WarsawTel.: +48 22 653 44 00

ROMANIABanul AntonacheStreet N°40-44Bucharest 011665Tel.: +40 21 312 7000

SPAIN C/Genova 17 28004 Madrid Tel.: +34 91 454 96 00

UNITED KINGDOM 5 Aldermanbury Square London EC2V 7BP Tel.: +44 20 7338 4000

MIDDLE EAST / ASIADUBAIEmaar SquareBuilding n°1, 7th FloorP.O. Box 7233 DubaïTel.: +971 44 248 277

HONG KONG29/F Three Exchange Square8 Connaught Place CentralHong KongTel.: +852 2909 2806

ALGERIA

AUSTRIA

CYPRUS

DENMARK

ESTONIA

FINLAND

GREECE

HUNGARY **

IVORY COAST

LATVIA

LITHUANIA

MOROCCO

NORTHERN IRELAND

NORWAY

PORTUGAL

SERBIA

SWEDEN

SWITZERLAND

TUNISIA

USA

* October 2016

** In Transaction, Consulting & Valuation

@BNPPRE

www.realestate.bnpparibas.com

Main locations Alliances *

Real Estatefor a changing

world

Real Estatefor a changing world

P R O P E R T Y D E V E L O P M E N TT R A N S A C T I O N

C O N S U L T I N GV A L U A T I O N

P R O P E R T Y M A N A G E M E N TI N V E S T M E N T M A N A G E M E N T

REAL ESTATEFOR A CHANGING WORLD