This week, many Italian shutters were raised and the population, with the necessary precautions, was able to set foot inside a shop.
During the Covid-19 lockdown, the retail asset class continued to protect customer relationships by optimizing delivery and e-commerce services.
It's still too early to tell what impact the new rules and social distancing will have. Will larger retail spaces be needed to accommodate customers safely?
Or will retailers focus on smaller sizes to likely continue to encourage home delivery?
If there is still uncertainty on the sentiment front, what the Research Department of World Capital can detect without any doubt what is the Longest Italian High Street: Corso Buenos Aires in Milano, with a length of 1.200 meters.
The shortest High Street in Italy, however, is Campo San Bartolomeo in Venice and measures 52 metres.
Corso Buenos Aires, the longest Italian High Street
A renowned shopping street, which over the years has attracted purchases from people of various nationalities, beloved by Italians, but also by an international clientele. Corso Buenos Aires is one of the most appealing shopping streets in Milano not only for shopping, but also for investors. In fact, many brands, both national and international, choose this High Street as the location for their boutiques. With a view to real estate investments, the gross prime yield in Corso Buenos Aires is 4%, in addition to the values of lease which reaches €2.360/m2/year.
Stretching from Porta Venezia in Piazza Oberdan to Piazzale Loreto, Corso Buenos Aires, with its typically American shape, could be mistaken for the distant twin of Fifth Avenue in New York.
But what do the shops on Corso Buenos Aires sell?
The majority of boutiques, at 30,7%, are clothing stores. This is followed by footwear and leather goods stores (17,1%), restaurants (12,4%), jewelry/watches (7,2%), perfumery and cosmetics (6,8%), underwear, services, telephones, and household appliances (4%), optics (3,6%), and home furnishings and accessories (1,6%). Finally, 8,8% are other categories.
Campo San Bartolomeo, the shortest Italian High Street
And if Corso Buenos Aires holds the title of “longest Italian High Street”, the shortest is Campo San Bartolomeo in Venice at just 52 metres long.
A short yet characteristic shopping street, a Venetian campo located in the San Marco district, just steps from the Rialto Bridge. A location steeped in history and culture, nestled between important landmarks such as Campo San Salvador, the Rialto Bridge, and the Fondaco dei Tedeschi.
Here, rental values reach €4.700/m2/year, while the gross prime yield is 5%.
But what do the shops in Campo San Bartolomeo sell?
Here too, the majority of shops belong to the clothing sector (27,8%) , followed by services (22,2%), catering (16,7%), accessories and jewellery (16,7%), perfumery (5,6%), footwear and leather goods (5,6%) and finally other types of boutiques (5,6%).