Retail parks have established themselves as a comparatively stable segment in the retail property market. Their function in local supply, a predominantly food-anchored tenant mix, and long-term lease agreements contribute to footfall stability and income security. A new study by Deutsche Hypo – NORD/LB Real Estate Finance, titled “Retail Parks as an Anchor of Stability? Market Potentials in Germany and Europe”, analyses the economic framework conditions as well as the development, letting, and investment perspectives for this property class.
The study covers Germany and several European markets, including the United Kingdom, France, the Netherlands, the Nordic countries with a focus on Sweden, as well as Spain and Poland. In Germany, the economic environment remains challenging, and private consumption continues to be subdued despite a moderate economic recovery. This particularly favours retail formats focused on local supply, price, and essential needs, while consumption-dependent non-food segments are subject to increased structural adjustment pressure.
Robust Letting and Investment Market
The German letting market for retail parks appears robust overall. There is particular demand for modern, easily accessible properties with food anchor tenants. This segment also holds its own in the investment market; in the first half of 2026, food-anchored retail parks further increased their share of the German retail investment volume. Ingo Martin, Head of Origination at Deutsche Hypo – NORD/LB Real Estate Finance, emphasised that retail parks offer a solid foundation due to their supply function and often long-term leases. He highlighted that mere membership of the segment does not guarantee a long-term stable value development.
According to Martin, crucial factors for success include the quality of the location and property, a sustainable tenant mix, flexible usage options, and the energy efficiency of the property. In a European comparison, retail parks also show above-average performance and recently outperformed the overall European property market. However, potentials vary significantly depending on the country and market maturity.
Differentiated European Perspectives
In the established Western European markets, the focus is primarily on the modernisation, repositioning, and optimisation of existing locations. Spain, and especially Poland, on the other hand, offer additional development and growth opportunities. Retail parks thus remain a resilient and yield-oriented sub-asset class. Their long-term competitiveness largely depends on the quality of the respective location and property, future energy sustainability, and active asset management.
- —Discussion on current developments at EXPO REAL 2026.
- —Opportunities to discuss future success criteria for retail parks.
- —Deutsche Hypo – NORD/LB Real Estate Finance can be found in Hall C1, Stand 312.
