Toronto (Bloor Street) has the Highest Cost for Retail Leasing in Canada

Update:

see source

Canada may be a hotspot for retail expansion, but lease costs in the country’s fanciest downtown shopping districts are still a relative bargain compared to other global centres.

Toronto’s Bloor Street area was the priciest in Canada at $291.66 (U.S.) a square foot, according to Colliers International. Toronto is the only Canadian city to make the Top 50 in the report, coming in as the world’s 37th most expensive retail leasing market.

The most expensive space in the world can be found on Fifth Avenue in New York, where lease costs are $2,150 a square foot – gaining 70 per cent over last year. The top five is rounded out by Hong Kong’s Russell Street ($1,510, up 25 per cent),London’s Old Bond Street ($962, unchanged), Zurich’s Bahnhofstrasse ($955, up 14.2 per cent) and Milan’s Via Monte Napoleone ($943.39, down 2.7 per cent).

Ste-Catherine Street West in Montreal was the second most expensive Canadian location, at $204.15, a drop of 4.5 per cent. Saskatoon saw the biggest jump in Canadian lease rates, with Broadway Avenue gaining 25 per cent to $34.03.

Other Canadian sites included: Calgary’s Uptown 17th Avenue at $53.47 (down 26 per cent), Downtown Edmonton at $43.75 (unchanged), Halifax’s Sprig Garden Road at $48.61 (unchanged), Ottawa’s Byward Market at $38.89 (down 20 per cent), Vancouver’s Robson Street at $194.44 (unchanged) and Victoria’s Government Street at $53.47 (unchanged).

“After two successive years of lackluster growth, the world’s top retail streets once again regained their vitality, as reflected by a general rise in rents in many of the world’s premier shopping districts,” the report states.

“As the lingering effects of the global downturn faded during the latter half of 2010, rising demand for the world’s most prime retail real estate was evident in many countries as many new retailers sought to establish a foothold in the world’s most prestigious avenues.”

PREMIER FASHION RETAIL CORRIDOR RENTS

01.  New York –  Fifth  Avenue  $ 2,150.00 USD per square foot, per year

02.  Hong  Kong –  Russell Street, Causeway Bay  $ 1,509.88 USD per square foot, per year

03.  Hong  Kong –  Queen’s Road, Central  $ 1,355.81 USD per square foot, per year

04.  London –  Old Bond Street  $ 961.85 USD per square foot, per year

05.  Zurich –  Bahnhofstrasse  $ 955.38 USD per square foot, per year

06.  Milan –  Via Monte Napoleone  $ 943.39 USD per square foot, per year

07.  Sydney –  Pitt  Street  Mall  $ 901.42 USD per square foot, per year

08.  Paris –  Avenue des Champs-Elysees  $ 872.63 USD per square foot, per year

09.  London –  Oxford  Street  $ 761.46 USD per square foot, per year

10.  Geneva –  Rue du Rhone  $ 756.24 USD per square foot, per year

11.  New York –  Madison Avenue  $ 708.00 USD per square foot, per year

12.  Rome –  Via  Condotti  $ 707.54 USD per square foot, per year

13.  Moscow –  Tverskaya  Street  $ 688.67 USD per square foot, per year

14.  Tokyo –  Ginza-Chuo Street  $ 610.64 USD per square foot, per year

15.  Vienna –  Graben, Kohlmarkt, Karntner Strasse $ 550.31 USD per square foot, per year

16.  Munich –  Kaufingerstrasse  $ 518.86 USD per square foot, per year

17.  Stuttgart –  Konigstrasse  $ 503.14

18.  Melbourne –  Bourke  Street  Mall  $ 495.78 USD per square foot, per year

19.  Riyadh –  King Fahad Road /  Olaya Road  $ 446.95 USD per square foot, per year

20.  Los Angeles –  Rodeo Drive  $ 425.00 USD per square foot, per year

21.  Frankfurt –  Zeil  $ 424.52 USD per square foot, per year

22.  Dublin –  Grafton Street  $ 422.95 USD per square foot, per year

23.  Brisbane –  Queen Street Mall $ 383.11 USD per square foot, per year

24.  Dusseldorf –  Konigsallee $ 377.36 USD per square foot, per year

25.  Hamburg –  Spitalerstrasse  $ 377.36 USD per square foot, per year

26.  Singapore –  Orchard Road  $ 366.00 USD per square foot, per year

27.  Berlin – Tauentzienstrasse  $ 345.91 USD per square foot, per year

28.  San Francisco –  Union Square – Post Street $ 340.00 USD per square foot, per year

29.  Shanghai –  Nanjing Road West $ 325.91 USD per square foot, per year

30.  St. Petersburg –  Nevsky Prospekt $ 320.08 USD per square foot, per year

31.  Copenhagen –  Østergade $ 316.19 USD per square foot, per year

32.  Prague –  Na Príkope $ 314.46 USD per square foot, per year

33.  Kyiv –  Vulitsya Khreshchatyk $ 303.46 USD per square foot, per year

34.  Honolulu –  Kalakaua Avenue $ 300.00 USD per square foot, per year

35.  Amsterdam –  Kalverstraat $ 294.81 USD per square foot, per year

36.  Perth –  Hay Street and Murray Street Malls $ 292.96 USD per square foot, per year

37.  Toronto –  Bloor Street $ 291.66 USD per square foot, per year

38.  Athens –  Ermou Street $ 283.02 USD per square foot, per year

39.  Delhi –  Khan Market $ 277.55 USD per square foot, per year

40.  Madrid –  Puerta del Sol Preciados $ 275.15 USD per square foot, per year

41.  Adelaide – Rundle Mall $ 270.43 USD per square foot, per year

42.  Helsinki –  Aleksanterinkatu $ 267.29 USD per square foot, per year

43.  Glasgow –  Buchanan Street $ 256.49 USD per square foot, per year

44.  Chicago –  North Michigan Avenue $ 250.00 USD per square foot, per year

45.  Seoul – Central District $ 249.20 USD per square foot, per year

46.  Manchester –  Market Street $ 240.46 USD per square foot, per year

47.  Oslo –  Karl Johans Gate $ 232.59 USD per square foot, per year

48.  Beijing –  Mall at CWTC $ 229.16 USD per square foot, per year

49.  Birmingham –  High Street / New Street $ 224.43 USD per square foot, per year

50.  Stockholm –  Biblioteksgatan $ 219.78 USD per square foot, per year

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3 comments

  1. Whats up! I just would like to give a huge thumbs up for the nice information you will have right here on this post. I can be coming back to your weblog for extra soon.

  2. Hi Les: Ottawa’s Byward Market at $38.89 is cheap, in comparison to Toronto’s Bloor Street at $291.66

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