VIEWPOINT

Retail bankruptcies and retail real estate in The

Netherlands

The recent high number of retail bankruptcies in the Dutch retail sector has fuelled
the debate on the viability of Dutch retailers and increasing vacancy in the high streets
and shopping centres. This viewpoint provides insights in the recent wave of
bankruptcies and the impact on Dutch retail property. Have the recent bankruptcies
caused a drop in demand for retail space or do we see newly entering and expanding
retailers taking up the vacated units in the Dutch high street and shopping centres?

Figure 1: Number
of retail
bankruptcies in the
Netherlands
Supermarkets and
department stores
Food

1.000

800

600

Gas filling stations

Consumer electronics

400

Household goods
Leisure goods
Clothing, shoes and other
goods
Market vending
Internet and catalogues

200

0
2009

2010

2011

2012

2013

2014

Note: Sole proprietorships are excluded in the figures

Source: Statistics Netherlands
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DUTCH RETAIL MARKET

Table 1: Top 10 of retailers went out of business between 2012-2015

Year

Retailer

Sector

Number of stores

Total sq m of retail
space

2013

Globe

Travel agency

206

N/A

2014

Free Record Shop

Entertainment

155

20,400

2014

Halfords

Hardware

137

35,100

2015

Schoenenreus

Shoes

125

44,200

2013

Henk.nl

Clothing

98

28,500

2013

E-plaza

Entertainment

52

4,600

2013

Harense Smid

Consumer electronics

44

36,000

2014

Siebel

Jewelry

38

3,300

2012

Mexx

Clothing

37

14,500

2014

Sabon

Cosmetics

25

1,100

Source: CBRE, Locatus

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DUTCH RETAIL MARKET

New market entries

Figure: 2 Take
up of new
entrants and
expanding
retailers (sq m)

140.000
120.000

100.000
80.000

Discount

60.000

Luxury

40.000

Mid range

20.000

Specialist

2010

2011

2012

2013

2014

Source: CBRE, Locatus, VTIS

Discount segment

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DUTCH RETAIL MARKET

Table 2: Top 5 expanding value and discount retailers since 2010

Year of
entry

Retailer

Sector

Number of new
stores since 2010

Total sq m of new retail

space since 2010

2010

Primark

Clothing

10

62,300

2011*

Action

Household

52

58,500

2000

Mediamarkt (incl
Saturn)

Consumer electronics

30,800

1989

H&M

Clothing

18

28,400

2012

Big Bazar

Household

26

18,900

* Expansion after investment by 3i

Source: CBRE, Locatus, VTIS

Luxury retail

Table 3: Top 5 expanding luxury retailers

Year of
entry

Retailer

Sector

Number of stores Total square metre of new

since 2010
retail space since 2010

2012

Apple

Consumer electronics

5,600

2011

Massimo Dutti

Clothing

3,900

2012

Hugo Boss

Clothing

1,500

2012

Michael Kors

Clothing

1,000

2012

Ikks

Clothing

700

Source: CBRE, Locatus, VTIS

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DUTCH RETAIL MARKET

Evolving retail property market

CBRE Netherlands Research

Disclaimer: Information herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and
make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. This information

is designed exclusively for use by CBRE clients, and cannot be reproduced without prior written permission of CBRE.

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