The situation is getting worse from year to year

Braverait commercial real estate market Despite indicators in berne, this sector offers each year more centres and galleries. A record was even beaten in 2009 with more than 3 million additional square metres permitted while the France account 700 of these sets extended on 14 million square metres. "On court to overproduction, worries Michel Pazoumian, Delegate General of the Federation for the planning and development of specialized trade (Procos).". The situation is getting worse from year to year. In a bleak situation, is that local communities cease to grant administrative permissions in arms turn. "According to him, several factors are at the origin of this"catastrophic situation ". And, in the first place, the impact of the law of modernization of economy (LME): adopted on 4 August 2008, it facilitates the openings of "small" units. Between 300 and 1,000 square meters may now happen administrative "Sesame" issued by the departmental Board of commercial development (CDAC). Then, the sector was fed in recent years by massive investment on the part of funds and operators for remunerative real estate assets. They have contributed to the boom of the "retails parks", a new generation of sky centres open installed on the outskirts of cities.

Other players in the profession are more reassuring. "In times of crisis, a drop of 2 to 3 of the turnover is not huge", comments, Eric Ranjart, the President of the national Council of shopping centres (CNCC). The concept of "commercial oversupply" advanced by Procos, some the qualify strongly. "The France is a mature market in terms of large surfaces, but it is not super-equipped." "With 250 square metres of commercial capita surface, the hexagon is only the 8th place in the European ranking from the trio of head formed by the Netherlands, the Ireland and the Sweden where this figure exceeds the 420 square metres", indicates Khokha Mansouri, head of the Department the Jones Lang LaSalle Council trade. "Shopping centres represent only 10 of all retail shops although France farther behind the foot of building stores and the"boxes"installed in entrance to town," adds Aline Sylla-Walbaum, Executive Director of strategy at Unibail-Rodamco.

Some throw the sponge

Long time favourable to the owners, the market reversed. "For the first time for a long time, signs are in position of strength on the donors." "After a period of increase continues to rental values in recent years, many traders seek reductions in rent and get them," notes Khokha Mansuri. The most affected sites by this waltz tags are the "retails parks" have spread since 2005. But the "good" centres also suffer. According to Jones Lang LaSalle, the average of the yields of shopping centres in the best position and best rented, "premium products", is today approximately 6.5 more than 8 in 2004. To a decrease in rental income, operators shall review operations "in the pipes. Sometimes, they are different issues not yet launched. In some cases, they do not hesitate to throw the sponge. End of 2009, Unibail-Rodamco decided to withdraw from the square of the marks, a shopping centre in Romorantin (Loir-et-Cher) project. The difficulties of financing, the multiplicity of proceedings, the fragmentation of the promoters and signs make today extremely random and long the realization of numerous projects. Despite this period of turbulence, new temples of consumption will open their doors this year and the following: Confluence in Lyon, property of Unibail-Rodamco. the left bank polygon to Béziers developed by Socri; the Okabé of Altarea Cogedim in Kremlin-Bicêtre and barracks of good in Grenoble, purchased February 15 last by Apsys Mercialys.