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Spain maintains the strong momentum in the development of value added restoration

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Cushman & Wakefield highlights that Spain registers more than 1,300 restaurant openings in 18 months, the community of Madrid receives 29%

The new context of development consumption and the experience in the restoration drive the demand for space dedicated to the Food & Beverage segment (F&B). In fact, Cushman & Wakefield detects that organized catering operators are taking a chance on stores traditionally aimed at fashion stores in the best locations in cities. In parallel,  hotel business is strengthening its offering and seeks to provide quality catering that goes beyond guests.

In this context, Spain registered between January 2017 and June 2018 more than 1,300 new restaurant openings, according to the Food & Beverage report. Retail Spain 2018 of Cushman & Wakefield. The study noted that the Community of Madrid is the most openings registered to, 29% of the total, followed by Cataluña (16%) and Andalucia (13%).

The country chained in 2017 its fourth consecutive year of increases in the opening of new restaurants, with a growth rate of 7%, according to the study . The report highlights that, between 2013 and 2017, Spain registered more than 4,500 openings, and highlights the rise of the Fast Casual segment , which already accounts for 35% of the inaugurations of new establishments in the sector.

As the report points out, Madrid hosted 29% of the new restaurant openings in 2017, with a total of 287 establishments concentrated in the Centro, Chamberí, Salamanca and Tetuán areas, followed by Barcelona (16%), where 137 stores were opened mostly in Eixample, Ciutat Vella, Sarrià-Sant Gervasi and Les Corts, and Comunidad Valenciana (13%).

The study also shows that the most common size of the restoration site ranges between 200 and 400 m 2 and that the supply is very restricted from 400 m 2 . The report detects a great interest for the premises of more than 600 m 2 and points out that rental income has gone up to 40% in the last three years.

The good moment of consumption (€ 100,500 million of catering expenses in 2017, 5.2% more than the previous year) and the strong development of the sector push up the demand for retail real estate space , according to the report. This translates into an increase in the returns of the restaurants, ranging from 3.55 to 5%, depending on the property, the area where it is located and the type of operator.

The concept of restoration Fast Casual , with an average ticket 30% higher than Fast Food is marked by a balanced offer between quality and price and is the option that is growing the fastest among the millennial public , according to the study.Restaurants in this segment (La Tagliatella , Vips or Wagamama , for example) accounted for 35% of new openings in 2017, compared to 33% for Fast's Food ( Five Guys , McDonald's or Pans & Company) and 29% of coffee shops and bars (Starbucks or Coffee & Tea, for example).

Ignacio Acha, Director of Retail High Streets of Cushman & Wakefield, believes that " the F ood market & B everage has evolved, improved and created new trends ", adding that" it is our obligation as advisors not only to evolve at the same speed as the market , but to anticipate the changes ".