Colliers Denmark Market Report 2024

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RETAIL - COLLIERS MARKET REPORT 2024

In 2023, the Aarhus city centre saw a decrease in vacancy measured by total retail space, but not in the number of vacant premises

Lille Torv 6, Aarhus high street

New tenants in Aarhus Several of the trends from the Copenhagen high-street area are also evident in the central parts of the country’s second largest city. In 2013, the Aarhus city centre saw a decrease in vacancy in terms of total retail space, but not in the number of vacant premises, as larger stores are being let. It is still popular to be located in the Latin Quarter rather than on Strøget due to lower rents and high footfall. At the end of 2023, the vacancy rate in the Latin Quarter was 2% – down from 5% in 2022. A newcomer to the area is Silvan in the clothing group H&M’s former premises at

Lille Torv. While the Silvan move is part of the DIY group’s push for compact city branches in the largest cities, new concepts are also coming to Aarhus, such as restaurant chain Pincho Nation at Skt. Knuds Torv and sportswear company Planet Nusa at Guldsmedegade. However, compared to Copenhagen, Aarhus still lacks a number of foreign chains. The increase in vacancy rates that many had predicted during 2023 did not materialise. Part of the explanation is that landlords have been ready to meet tenants’ stricter demands, as a tenanted store with lower rent is better than a vacant lease.