Located on the French riviera, Nice is the seventh most populated metropolitan area in France and the largest city in the Provence-Alpes-Côte d’Azur region after Marseille. Nice benefits from a very easy access, with Nice Côte d’Azur international airport being the second largest in the country after Paris. A major destination for business travelers, Nice is also one of France’s most important leisure tourism destinations.
The area became a beloved venue for the rich and famous when wealthy people and the British aristocracy in particular discovered its tourist potential. Local residents also boast high purchasing power, therefore contributing to the dominant role of retail in Nice’s economic activity. Nice’s prominent retail zone is located just behind the highly frequented Promenade des Anglais and includes Rue du Paradis, Avenue Verdun and Rue de la Liberté. Accommodating the Nice Etoile shopping centre, avenue Jean Médecin is Nice’s main thoroughfare. This zone has recently benefited from the inauguration of a new tramway line and from the extension of the city centre’s pedestrian area. Cap 300, one of France’s most profitable shopping centres, dominates the retail property market on the outskirts. A few major schemes scheduled for completion in the short term should contribute to changes in the retail landscape of the Nice region including the extension of Cap 3000 and the creation of Polygone Riviera in Cagnes-sur-mer, a 75,000 sq. m. project developed by Unibail-Rodamco and Socri scheduled for opening in 2015.
AVENUE JEAN MEDECINLinking Place Massena to Avenue Malaussena, Avenue Jean Médecin is the main thoroughfare of Nice. Partly pedestrian and serviced by the tramway since 2007, Avenue Jean Médecin is home to many international mass-market retailers in a wide range of activity sectors including fashion, services and leisure. Anchored by Les Galeries Lafayette department store and FNAC, Avenue Jean Médecin is also a key target for international retailers expanding in France. Recent transactions include a new H&M 3,000 sq. m. flagship at n°15, formerly occupied by Virgin Megastore.
RUE DE LA LIBERTE / RUE ALPHONSE KARRRue de la liberté and Rue Alphonse Karr are key destinations for mid-range to high-end fashion retailers including Sandro, Maje or Michael Kors, who chose Nice to open its first store outside Paris.
RUE MASSÉNARunning parallel to Rue de la Liberté and Avenue de Verdun, Rue Masséna is a pedestrian street targeting both tourists and local residents. The section between Avenue de Suède and Rue Paradis hosts a wide range of activities including restaurants, fashion and gifts while the section between Rue Paradis and Avenue Jean Médecin is dominated by mass-market to middle-range fashion retailers including Camaïeu and Comptoir des Cotonniers.
AVENUE DE VERDUN/RUE PARADISLinking Promenade des Anglais to Avenue Jean Médecin, Avenue de Verdun is a hot destination for high-end to luxury retailers including Hermès and Cartier, therefore forming a hub with Rue Paradis, an adjacent street home to several French brands in the luxury sector including Chanel and Sonia Rykiel. Recent openings have reinforced the high-end positioning of this area, including Tiffany & Co and Omega.
CAP 3000Cap 3000 is a 70,000 sq. m. shopping centre located on the outskirts of Nice and very close to Nice Côte d’Azur international airport. Anchored by Les Galeries Lafayette, Cap 3000 hosts 10 million visitors annually and is one of France’s most profitable shopping centres and a key destination for mass-market to mid-range retailers. Open since 1969, this prominent shopping centre has been sold by Les Galeries Lafayette to a consortium led by Altarea in 2010 for €450 million, making it one of the most important retail investment transactions of all time in France. Authorization for a 30,000 sq. m. extension has been granted and is scheduled for opening by 2016. In the longer term, Cap 3000 will comprise 300 shops on 135,000 sq. m. and host 14 million visitors annually.
NICE ETOILE SCAnchored by C&A, Habitat and Sephora, Nice Etoile is located on Avenue Jean Médecin, Nice premium retail scene, in the very heart of the city. This 20,000 sq. m. shopping centre has been redeveloped in 2005 and attracts 13 million visitors annually. The shopping centre has been recently sold by Unibail-Rodamco to Allianz for nearly €300 M.
|SHOPPING CENTER TO WATCH OUT FOR|
|Center Name||POLYGONE RIVIERA|
|- Retail GLA|
|Consumer Profile||Mass-market to upper-range Local residents/Tourists|
|Anchor Tenants||Le Printemps, Primark, Uniqlo, Forever 21|
Focus on POLYGONE RIVIERA
Polygone Riviera is one of the most highly anticipated shopping centre openings in France. This 75,000 sq. m. project located in Cagnes-sur-mer, a few kilometres away from Nice airport and Cap 3000 shopping centre, is emblematic of the development of high-quality facilities, better adapted to consumer needs. Anchored by Le Printemps department store, Polygone Riviera will host 150 stores with a special focus on new innovative concepts. While mid-range to high-end fashion brands will made up for a significant share of retail supply, Polygone Riviera will also boast a large selection of restaurants and cafes and a 10-screen cinema.
|KEY AREAS / STREETS/SHOPPING CENTERS||CONSUMER PROFILE||MAJOR RETAILERS PRESENT||NEW ENTRANTS||TYPICAL RENT FOR UNIT OF 200 SQM||RANGE OF UNIT SIZES|
|Nice Etoile SC||Middle to upper range Local residents, tourists||C&A, Habitat, La Grande Récré, Desigual, Maisons du Monde, Adidas, Fossil, Hollister, Nature & Découvertes, Lancel, Swarovski, Starbucks||Pandora||1,500-1,800||All sizes|
|Avenue Jean Médecin||Mass market Local residents||Etam, Esprit, FNAC, Mango, Zara, Galeries Lafayette, Monoprix, Celio, Sephora, , Pathé Cinemas, Undiz||H&M, Calzedonia||2,000-2,200||Up to 1,000|
|Avenue de Verdun/Rue Paradis||Upper range to luxury Local residents, tourists||Longchamp, Hermès, Cartier, Louis Vuitton, Sonia Rykiel, Chanel, Hugo Boss, Escada, Bonpoint, Façonnable, Le Tanneur, The Kooples, Tiffany & Co, Omega||Repetto, Furla||1,600-2,000||Up to 150|
|Rue de la Liberté||Mid-range retailers local residents, tourists||IKKS, Tara Jarmon, Guess, Jules, Camaïeu||Carmen Steffens||1,300-1,600||Up to 150|
|Rue Alphonse Karr||Upper-range retailers local residents, tourists||Cotelac, Lacoste, Michael Kors, Maje Sandro||1,600-1,800||Up to 150|
|Rue Massena||Middle to upper range Local residents, tourists||Comptoir des Cotonniers, MAC, L’Occitane, , Jules, Marionnaud, The Kooples, Crocs, Etam||1,700-2,000||Up to 150|
|Cap 3000||Mass market to middle-range Local residents, tourists||Apple, H&M, Zara, Celio, Mango, Sephora, Galeries Lafayette, Nature et Découvertes, Desigual, Comptoir des Cotonniers, Guess, Lacoste, Massimo Dutti, Nature & Découvertes, Pandora, Starbucks, Swarovski, The Kooples||Aigle, Calzedonia, Etam, Intimissimi, Tommy Hilfiger, Undiz, Maje, Sandro||2,200-2,500||All sizes|
Data as of May 2015
Influenced by Italian and Provençal cuisine, Nice local dishes are definitively Mediterranean such as the famous “Salade Niçoise” or “la Socca,” a pancake made from chickpea flour. With its narrow alleys and ochre walls, le Vieux nice is the most popular destination for both local residents and tourists willing to enjoy modern as well as traditional cuisine.
A world-famous promenade fronting the Mediterranean, la Promenade des Anglais boasts the city’s finest establishments and luxury hotel restaurants including Chantecler and Le Siècle. Other prestigious restaurants can be found in neighboring cities including several twomichelin-star restaurants in Beaulieu-sur-Mer, Le Canet or Èze.
Close to Le Vieux Nice area, the Carabacel district is also home to fine restaurants such as Le Flaveur. The port district abounds with restaurants and bars including Le Borghese.
|KEY AREAS||CONSUMER PROFILE||FOOD & BEVERAGE OPERATOR INCLUDING||RENT FOR 350 SQM UNIT|
|Vieux Nice||Local residents, tourists||Acchiardo||N/A|
|Le port||Local residents, tourists||Le Borghese||N/A|
|Carabacel||Local residents, tourists||Flaveur, Aphrodite, L’Aromate, Le Boudoir, L’Atelier||N/A|
|Promenade des Anglais||Local residents, tourists||Le 3E, Chantecler, Le Siècle||N/A|
Data as of May 2015
CHRISTIAN DUBOISPartner, Retail Services France
Cushman and Wakefield LLP
Etoile Saint Honore
21 rue Balzac
Tel: +33 01 53 76 92 96
Mob: +33 06 71 01 43 01