Retail parks have established themselves as a comparatively resilient segment of the retail real estate market. Their role in providing local amenities and a tenant mix often anchored by food retailers and long-term leases contributes to stable footfall and reliable income. At the same time, differences between individual locations and properties are becoming increasingly apparent. This is highlighted by the new study “Retail Parks as an Anchor of Stability? Market Potential in Germany and Europe” by Deutsche Hypo – NORD/LB Real Estate Finance.
The study analyses the economic environment as well as the letting, investment and development prospects for retail parks in Germany and selected European markets. In addition to the United Kingdom, France and the Netherlands, it examines the Nordic markets, with a particular focus on Sweden, as well as Spain and Poland.
In Germany, the economic environment remains challenging. Despite a moderate economic recovery, private consumption continues to be subdued. Retail formats focused on local amenities, value for money and everyday needs therefore remain particularly sought after. Consumer-dependent non-food segments, by contrast, are facing greater structural pressure to adapt.
The German retail park letting market remains robust overall. Modern, easily accessible properties anchored by food retailers are particularly sought after. The segment is also holding its ground in the investment market: in the first half of 2026, food-anchored retail parks further increased their share of Germany’s total retail investment volume.
“Retail parks have a robust foundation thanks to their role in providing local amenities and their often long-term lease structures. However, belonging to this segment alone is no guarantee of stable long-term value performance. The key factors are the quality of the location and property, a balanced tenant mix, flexible use options and the building’s energy performance,” explains Ingo Martin, Head of Origination at Deutsche Hypo – NORD/LB Real Estate Finance.
In Europe, retail parks also show above-average performance and have recently outperformed the European real estate market. However, their potential varies significantly depending on the country and the maturity of the respective market. In established Western European markets, the main focus is on modernising, repositioning and optimising existing locations. Spain and Poland, particularly the latter, also offer opportunities for development and growth.
Retail parks therefore remain a resilient and income-oriented real estate sub-sector. Their long-term competitiveness, however, depends to a significant extent on the quality of the individual location and property, its future energy performance and active asset management.
