Athens is the capital of Greece and one of world’s oldest cities. Athens’ urban area has an estimated population of 4 million and as a city it dominates the social, cultural and commercial structure of the country.
There is unsurprisingly little room for modern inner city retail developments due to planning restrictions and limited opportunities of suitable land with access to mass transportation. The most important large scale development in the pipeline is Ellinikon project on the site of the old airport, which will be one of the most prominent inner-city, waterfront, mixed development projects in the world.
Prior to the recession there was a lack of adequate retail space suitable for international retailers. The economic recession hit Greece hard and particularly the retail sector. Occupier activity has been slowed, with few retailers looking to expand and demand concentrated in top prime high street locations and main shopping centres. Nonetheless, the situation is now starting to improve. Prime rents witnessed a modest increase over the first quarter of 2016 with an 8.3% growth in high street and 5.3% growth in dominant shopping centre locations.
The main shopping area in Athens is concentrated in the streets around Syntagma Square, Kolonaki Square and the streets between Stadiou and Panepistimiou Streets and includes Citylink shopping centre. Ermou is the principal street and is located in the oldest district of the city. Within the suburbs of Athens there are other popular shopping areas such as Glyfada in the south and Kifissia on the northern outskirts.
KOLONAKIThe Kolonaki area is approximately a ten minutes walk from Ermou and is dominated by high-end boutiques, bars and more fashionable restaurants. It is regarded as one of the more prestigious areas of the capital.
KIFISIAKifissia is one of the most affluent northern suburbs of Athens. It is an upmarket shopping area with a small pedestrian zone dominated by cafes and fashion retailers operated by both international and Greek brands.
GLYFADAGlyfada is a seaside town and suburb of Athens, situated in the southern parts of the Athens Metropolitan Area. It is the largest of Athens' southern suburbs, offering a different shopping experience to central Athens. It is a fashion conscious area known for its upmarket cafes, well-known restaurants, boutiques and cosmopolitan summer clubs. The main shopping street is Metaxa.
THE MALL ATHENSThe Mall Athens was the first shopping centre in Greece when it opened in 2005 with 58.500 sqm GLA. It is located in the suburb of Maroussi close to the Athens Olympic Stadium. It has over 200 shops with international and domestic retailers including Inditex Group (Zara, Massimo Dutti, Bershka, Zara Home , Oysho , Stadivarius, Pull & Bear) H&M ,Sfera, Koton, Marks & Spencer, Intersport,Gap , Benetton, , Calzedonia, Clarks, Folli Follie, F Geox and many others. There is also a significant entertainment component and F&B offering.
GOLDEN HALLGolden Hall is a 41,000sq.m shopping centre with some 131 stores. It is located in the same area as The Mall Athens. Retailers represented include Attica ( department store) ,Inditex Group ( Massimo Dutti, Zara Home , Oysho , Pull & Bear), Adidas, Diesel, Guess, Gap, Lacoste, LErmenegildo Zenia, Gant, Hogan and Sephora and other International & National Luxurious Brands.
METRO MALLThe Athens Metro Mall is a shopping mall located very close to the Saint Dimitrios stop of the Athens Metro on Vouliagmenis Avenue in the southern suburb of Agios Dimitrios. The mall opened in 2010. Metro Mall has some 85 stores, 18 restaurants, 5 cinema screens, a Vassilopoulos supermarket and a playground. Retailers include H&M, Inditex Group (Zara, Bershka , Zara Home , Oysho , Stadivarius, Pull & Bear), Adidas, Intersport ,Prenatal,Public, Bsb, Tommy Hilfiger and others.
PIREAUSThe major commercial port of Piraeus is one of the busiest locations in Athens Metropolitan area appealing to a broad cross-section of consumers. Sotiros ( pedestrian) , Ir.Polytechniou, Gr.Lambraki and Vas. Georgiou streets are the key retail areas in Piraeus.
ERMOU STREETErmou Street is an approximately one kilometre-long pedestrian road connecting Syntagma Square to Monastiraki and the city's best-known and busiest shopping street. It is considered a top destination for locals and tourists alike. It is home to many international and national fashion brands.
The MallThe Mall Athens of 58,500 sqm GLA is the first and the most succesfull shopping centre in Athens situated near the Athens Olympic Stadium in Marousi. Operating since 2005 and with 200 brands over four levels it combines shopping with food and leisure and is a destination for young and fashionable shoppers. Main brands include ZARA, Massimo Dutti, Sfera, Longchamp, Pull & Bear, Kotton, Ipekyol, Matchka, Marks & Spencer, Sephora, Pimkie, Tie Rack, Birkenstock, Footlocker, Gap,KFC, Inglot, ELC and H&M.
Golden HallThe Golden Hall Shopping Centre of 41,000 sqm GLA was opened on 28 November 2008 and is considered the most stylish and relaxed shopping centre in Greece. The shopping centre is located in the north of Athens, near the Olympic stadium close to The Mall. There are around 130 stores including Attica Dept Store, ZARA, Tod's, Hogan, Bally, Marc by Marc Jacobs, Notos Home, Camper, Diesel, Gant, Gap and Links of London.
Athens Metro MallAthens Metro Mall of 22,000sqm GLA, operating since 2010, is the main shopping center in the Southern Suburbs of Athens with 5 levels dedicated to shopping and entertainment. It is ideally located right next to Ag.Dimitrios metro station and provides 90 stores, 18 restuarants, 5 cinema screens, a Super Market, a play area, a bank and 1200 parking spaces. It is a shopping and entertainment destination for young people and among the brands in the shopping centre are H&M, Benetton, Shana, Tommy Hillfiger, Pull & Bear and Accessorize.
River WestThe 'River West' shopping mall in Aegaleo, consists of a highly accessible shopping mall which covers an area of 20,000 sqm GLA and together with the existing 45,000 sqm "IKEA" retail store, constitutes the River West shopping complex. The underground parking has a total area of 124,000 sqm. The shopping mall opened in April 2011 and quickly became a landmark of West Attica. Major brands include Bershka, Calzedonia, Benetton, English Home, Mango, Prenatal, Stradivarious, H&M and Next.
Yialou Smart ParkYialou Smart Park is located 15km from the center of Athens and openend in 2011. It is the largest retail park in Greece. The project includes a hypermarket, DIY, toy, furniture, electrical and other stores and is adjacent to Greece's first Mc Arthur Glen Outlet Center. The site area is 91,000 sqm and the GLA is 36,500 sqm. Smart Park is distinguished for its great architectural aesthetics, its abundance of free space, its outdoor activities, restaurants and the play land. Major brands include H&M, Intersport, Carreour, A.L.E, Hondos Center, Jumbo, Kotsovolos electrical, Mamas & Papas and Claires.
Athens HeartAthens Heart is located at a key crossroads, in the city’s historical centre, between Pireos and Chamosternas streets and has 20,000 sqm GLA. Each of the four levels has shops and other businesses including cinemas, ice-skating rink and many other areas of entertainment. The open roof of Athens Heart allows natural light to come in and the balcony offers a spectacular view to the Acropolis. There is a large parking venue with a capacity of 1200 cars. Major brands include Inglot, Accessorize, Benetton, Swarovski, H&M, Columbia, Plaisio and Vodafon.
Airport Retail ParkThe Retail Park is located at the Airport’s entrance and is easily accessed via Attiki Odos highway, while it can also be accessed by Airport Express bus lines.It consists of an IKEA store of 25,000 sqm, a factory outlet store of 13,000 sqm, a Leroy Merlin store of 9,000 sqm and a Kotsovolos/Dixons electrical store of 4,200 sqm.
AvenueAvenue Shopping Mall in Maroussi, of 23,000 sqm GLA, next to Golden Hall, began its operation in May 2007 and was created as an extension of the Carrefour Hypermarket. It comprises 60 stores among which 3 major brands; the largest Carrefour in the country, now combined with Kotsovolos, the largest electrical appliances chain, as shop in shop, JUMBO, which is one of the biggest chain stores directed towards the family, offering a large variety of seasonal items, home accessories and baby items, and H&M, one of the most favourite brands to women, men and children. Also children can enjoy VOLTA FUN TOWN, the largest, outdoor playground in Athens, within a Shopping Mall.
Village shopping and MoreThe refurbished Shopping Centre, formally known as Village Entertainment Park, of 21,000 sqm GLA opened in 2000 and combines shopping, entertainment and relaxation by offering a variety of choices in men's and women's clothing, shoes, gift ideas, multiplex cinemas and ice rink. Major brands include Replay, Nike, Levi's, Timberland, Nautica, Springfield, Sugarfree, Tally Weijl, Bata, Converse, Accessorize, Folli-Follie, Claire's, Caprisa, Pizza Hut and KFC.
McArthurGlen Designer Outlet
This discount village comprises a total GLA of 21,144sqm , situated in the area "Yalou" of Spata, close to the international airport. It is a unique concept in the Greek market and consists of a two-storey designer outlet simulating the character of a village, with well-known brands and large national and international retail chains that sell merchandise at reduced sales prices. It comprises a total of 124 retail and food & beverage units and opened to the public on June 2011. Major Brands include Polo Ralph Lauren, Pinco, Gant, Diesel, Haagen Dazs Cafe, House & Travel, Hugo Boss, A.L.E, Accessorize, Adidas, Alberta Ferretti, American Vintage,Tommy Hilfiger and Trussardi.
The most important project of the next decade in Athens is the waterfront Hellinikon Project which is a pioneering development for Athens. The development aims to attract new international strategic alliances. A dominant feature of the development will be the creation of a metropolitan park of 2,000,000 sqm, comprising sports areas, cultural and educational facilities, residential uses (Marina Tower, seafront town), the marina development with shops and entertainment facilities, shopping centres and a business park.
|KEY AREAS / STREETS/SHOPPING CENTERS||CONSUMER PROFILE||MAJOR RETAILERS PRESENT||NEW ENTRANTS||TYPICAL RENT FOR UNIT OF 185 SQM||RANGE OF UNIT SIZES|
|Athens Down Town /Ermou str.||Tourists and Mass market||Zara, Bershka ,Pull & Bear, H&M ,Massimo Dutti, Marks & Spencer, Stradivarius , Adidas ,Nike ,Mango,Mothercare, Benetton, Oysho, Tally Weijl, Reply ,Foot Locker, Dupam ,Tiger ,Ths, Sephora, Intimizzini , Calcedonia, and many national fashion Brands (Folli-Follie, BsB, Lusille, Bertolucci )||Tezenis, Funky Budda,Lynne,American Eagle||€80-200/SQM/MONTH||100-3500 SQM|
|Kolonaki Area / P.Ioakim & Kanari str.||Mid-to-High-end (affluent) shoppers||Zara, Massimo Dutti, Luisa, , Benetton, Marina Rinaldi, Max Mara, Vardas, Lanvin, Gucci, Juicy Couture, Apple (reseller),Sephora Intimissimi ,H&M, Sephora||Prince Oliver, Food & Beverage operators||€35-120/SQM/MONTH||100-1800 SQM|
|Glyfada Area / Metaxa str. str.||Mid-to-High-end shoppers||Zara, H&M, Bershka, Marks & Spencer, Massimo Dutti ,Pull & Bear, Juicy Couture, Sephora, Gant ,Lacoste,Mothercare, Gap, Apple (reseller), Accessorize, BsB, Attrativo,Toi-moi, Stefanel, Prince Oliver, Pandora, Dupam,Folli Follie, Axcel , Sarah Laurence,Care Labs,More & More, Imaginarium, Attitudes etc||Funky Budda, Sisley, Food & Beverage operators||€45-150/SQM/MONTH||100- 2500 SQM|
|Piraeus Area/ Sotiros - Ir. Polytechniou- Vas.Georgiou str.||Mass-market||Zara, Bershka, Pull & Bear, H&M, Marks & Spencer Adidas, Stradivarius,Brooks Brothers||€30-80/SQM/MONTH||100-1000 SQM|
|Kifissia Area/ Levidou & Kolokotroni str.||Mid-to-High-end shoppers||Zara, Marks & Spencer,Juicy Couture, Stefanel, Max Mara, Lacoste, Gant , Prince Oliver Sephora, Simple Caractere, Benetton, Nike, Folli Follie, Staff, Zadig & Voltaire, Tous, Mat Fashion||Funky Budda,Wind,Food & Beverage operators||€45-110/SQM/MONTH||100-800 SQM|
|Chalandri Area/Andrea Papandreou, Haimanta, Platonos||Young and fashionable shoppers||Zara, H&M, Bershka, Massimo Dutti, Pull & Bear,Stefanel, Lacoste, Gant , H&M, Adidas, Tally Weilj, Public, Footlocker , Sfera , Promod , Intersport, Alter shop, Marks & Spencer, Gap, Grandoptical, Staff, Timberland,Prenatal,Miverva,Venetis,Vodafone, Oysho, English Home, Butlers||English Home, Yamamay||€35-90/SQM/MONTH||100-800 SQM|
|Maroussi Area/ MallShopping Center||Young and fashionable shoppers||Funky Budda, Migato, American Eagle, Mina, Triumph||€45-80/SQM/MONTH||30-2500 SQM|
|Agios Dimitrios Area/ Metro Mall Shopping Center||Mid-to-Low-end shoppers||Inditex Group,H&M, Intersport, Tommy Hilfiger, Toi Moi ,Attrativo,Bsb, Public , Intersport, ,Prenatal, Alter Shop||€40-70/SQM/MONTH||30-1200 SQM|
|Maroussi Area/ Golden Hall/ Shopping Center||Mid-to-High-end shoppers||Golden Attica Department store, Inditex Group, Gap, Brooks Brothers, BCBG, Public, Imaginarium, Rimowa, Adidas, Hogan,Dolce Gabbana, Sephora, Porshe Design, Public, Imaginarium, Rimowa, Adidas, Links of London, Petit Bateau||North Face, Runner store, Till Twelve, Victoria’s Secret||€ 35-60/SQM/MONTH|
Data as of April 2015. Note: Price applied mainly on the Ground Floor level surface, including additional space in other levels, giving a total of 185 SQM.
Athens enjoys vibrant street life and a relaxed lifestyle, where people take time out for endless coffees, dine out until late and enjoy the city’s nightlife, long after the average European levels. The nice weather, ancient parts of the city and the sea frontage all encourage the development of stylish new restaurants, shops and revamped hotels.
Increased ethnic diversity has influenced food and beverage consumption patterns and demand in recent years, so there are food and beverage outlets to suit all tastes. Wagamama, TGI, Hard Rock Café, Haagen Dazs, Paul, McDonald’s, KFC, Pizza Hut and Starbucks are only some of the few international names with strong presence in Greece. Goody’s is the leading quick service chain in Greece with outlets across the city. New Coffee/Bakery/Pastry concepts like Mikel, Apollonio, Horiatiko, Frozen Yogurt and others have shown strong expansion over the last few years. The operators of Greece’s fast food and specialist coffee shop outlets are beginning to invest more heavily in their takeaway coffee businesses, improving quality and reducing prices. Despite the economic downturn, leisure and entertainment is the sector which has arguably suffered least and most of the restaurants are crowded with customers.
|KEY AREAS||CONSUMER PROILE||FOOD & BEVERAGE OPERATORS INCLUDING||RENT FOR 3,500 SQFT UNIT|
|Athens Down Town / Areas of Kolonaki , Ermou, Monastiraki & Psiri||Tourists, Shoppers , Local business density and residential population||Local/popular coffees and bars, fast food concepts and restaurants (TGI Friday's, Hard Rock Café, Häagen-Dazs Café, Pizza Hut, McDonald's, Starbucks, KFC, Goody’s, Simply Burger, Dodoni)||€50-200/SQM/MONTH Price applied mainly on the Ground Floor level surface, including areas in other levels, giving a total of 300+ SQM.|
|Glyfada Area / Zissimopoulou str , Kyprou square)||Shoppers and Local residential population||Local/popular coffees and bars, fast food concepts and restaurants (TGI Friday's, Hard Rock Café, Häagen-Dazs Café, Pizza Hut, McDonald's, Starbucks, KFC, Goody’s, Simply Burger, Dodoni)||€45-150/SQM/MONTH Price applied mainly on the Ground Floor level surface, including areas in other levels, giving a total of 300+ SQM..|
|Piraeus Area/ Sotiros str & Passalimani area||Shoppers, Local business density and Local residential population||Local/popular coffees and bars, fast food concepts and restaurants (Häagen-Dazs Café, Pizza Hut, Starbucks, KFC, Goody’s, Simply Burger, Dodoni)||€30-80/SQM/MONTH Price applied mainly on the Ground Floor level surface, including areas in other levels, giving a total of 300+ SQM.|
|Kifissia Area/ Kassaveti str.,Levidou str. ,Argyropoulou str. & Kolokotroni str.||Shoppers , Local residential population||Local/popular coffees and bars, fast food concepts and restaurants (TGI Friday’s, Wagamama, Häagen-Dazs Café, Pizza Hut, Starbucks, Goody’s, Simply Burger, Dodoni)||€40-110/SQM/MONTH Price applied mainly on the Ground Floor level surface, including areas in other levels, giving a total of 300+ SQM.|
Data as of April 2015. Note: Price applied mainly on the Ground Floor level surface, including additional space in other levels.
Panagiotis TsaousisHead of Retail
154A, Sevastoupoleos street, Athens, 115 26, Greece
T +30 210 7480852
M +30 6973 340785
F +30 210 7485667