Chicago Jones Lang LaSalle has teamed with Experian to launch the 2009 European Retail Centre Rankings, designed to equip retailers, developers and investors with insights into European location opportunities.
The findings put London and Paris at the top of the rankings, as the cities occupying the first and second positions in the rankings in terms of consumer spend have some of the highest prime rents.
Italy, Germany and Spain all have two centers each that make the Top 10 of the European rankings. Moscow is the only city in Central and Eastern Europe to break into the Top 10.
Rome, in third place, edged Milan as the top Italian location.
The European Retail Rankings, according to its creators, are the first rankings to combine both spend and prime rental levels to understand the quality of a city's retail provision and the turnover levels that retailers can achieve.
James Dolphin, head of the Pan-European Retail Agency at Jones Lang LaSalle, said: “The Euro Rankings provide a major step forward in establishing and comparing the size of the retail spend in major European cities.”
He went on to say that the rankings measure more than just market size but also rental levels when developing the market order. “By combining both and applying our specialist retail agent’s knowledge and expertise in each country, we can better understand the quality of the retail environment, occupier demand, availability of space and ultimately provide a guide to helping determine potential turnover.”
The Top 10, in order, were London; Paris; Rome; Madrid; Berlin; Munich; Barcelona; Athens, Greece; Moscow; and Milan.