Christmas is only a week away and people are getting into a frenzy buying gifts for the big day. Have you ever wondered where in the world are the costliest retail stores for rent? Are they in America; home of Black Friday? Or what about London: where some of the premier fashion brands have their premises. Lamudi Indonesia—the premier property platform—identifies the globe’s priciest retail stores.
Apple—New York—$3,000 ft2
It is not a surprise for a company with a market cap of around $495 billion to have some flashy premium retail space on the best shopping street in the world. The likes of Cartier and Abercrombie & Fitch are their neighbors and according to Cushman & Wakefield’s “Main Streets Across the World” report this illustrious group are asked to pay whopping rents of $3,000 per square feet. If the store is located between 49th and 60th Street, they are paying the highest rents in the world.
Guchi—Hong Kong—$2,878 ft2
If you find yourself at the Lee Gardens One & Two shopping center beside the Causeway Bay in Hong Kong; let’s hope you own a platinum credit card and have a high tolerance for crowds. Luxury shops in this shopping center include Dior, Louis Vuitton, and Van Cleef. You can also don your child in dapper clothing with children concept floors with for example BAPE Kids, Gucci Children, Baby Dior.
Five Guys—Paris—$1,368 ft2
The Champs-Elysees has the most recognizable avenue in the world. On the western end, the street is taken up with cinemas, cafes and luxury shops. The Five Guys American burger joint created by Jerry Murrell is one the most famous diners in the world; even Barack Obama is known to be a fan. The upmarket chain sells delicious burgers for between €15 and €20. Stores on the street pay the highest retail rents across Europe, the Middle East and Africa (EMEA).
Bond Street, in England’s capital city, might be familiar to players of the board game Monopoly as the lush green colored set including Oxford and Regent. Fan’s of Jane Austen’s novels might remember it from Sense and Sensibility. Bond Street is known to have the highest density of haute couture anywhere in the world. Formerly, Bond Street was famous for its high-end art dealers and the Fine Art Society at No 34 Bond Street has an ancient Egyptian sculpture over its entrance, a piece dating back to 1600 BC.
The decadent Cartier store is on number 175 New Bond Street. One word of advice is if you happen to be walking passed this store with a girlfriend of a number of years, pick up the pace and create a diversion. Or you may end up buying a Cartier ring with 0.85 carats for a cool $13,800. Well, they have to cover the rent somehow don’t they.
Most affordable retail in the world
At the opposite end of the scale Kaunas, Lithuania is the cheapest place in the EMEA to rent a storefront. At just $17.96 per square feet, you can still find modern styles and fashion in centers like the Akropolis, where brands like Baltman and Bershka are housed. But the world’s cheapest shops to rent are in Hyderabad, India where retailers need only pay $16 per square feet to open a shop.