Colliers Market Report Denmark 2023

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Retail - Colliers Market Report 2023

Sct. Clements Torv

Tenanted shop units Vacant shop units

Hotel I ndustrial & logistics Retail Residential Office

Salling

Many general trends apply also to Strøget in Aarhus, e.g. a concentration of shops along a stretch of prime locations at the detriment of retail units in sec ondary locations with less footfall. In Aarhus, apart from newcomers like Basic & More, Rituals and Iris Gallerie along with other new concepts, most new lets are relocations, with tenants being met by more flexible landlords in their new leases, making it profitable to relocate, not necessarily in terms of lower rent but rather in terms of opti mised sales area or better location. The market remains a tenant’s market, making it essential for landlords to enter into a dialogue with tenants to achieve the best-possible terms for the parties’ mutual benefit, in the process reducing vacancies to a minimum. Strøget in Denmark’s second-largest city continues to feature shop vacancies, some of which are prone to long-standing vacancy, reflecting not necessarily a lack of demand but rather an inefficient layout of the units in question. Such units require comprehensive reconstruction to attract new tenants. Retail vacancy rates at Strøget in Aarhus stable for the better part of 2022, but multiple leases terminated at year-end

Søndergade

Ryesgade

Aarhus Central Station