• Switzerland's news in English

'Bling invasion' hikes Bahnhofstrasse rents

Malcolm Curtis · 7 Feb 2013, 00:15

Published: 07 Feb 2013 00:15 GMT+01:00

Facebook Twitter Google+ reddit

Fashion boutiques are making way for high-end timepieces and jewels in what the Blick newspaper is calling a “bling alarm” on the Bahnhofstrasse, downtown Zurich’s trendy shopping precinct.

 The Zurich high street is one of the most expensive retail patches in the world, behind only those in Hong Kong, London and New York, according to a report released on Wednesday by Swiss consultants Location Group.

The report highlights the impact of watch and jewellery shops on retail rents on the Bahnhofstrasse, which have tripled in the past 10 years, the report says.

Annual rents on the street are peaking at 13,850 francs per square metre, compared to 9,500 francs on Geneva’s Rue du Rhône, the second most costly place in Switzerland.

“Zurich is currently being overrun by jewellers,” Location Group said.

It said Bucherer, the Swiss watch and jewellery retailer and wholesaler, recently paid seven million francs in “key money” to take over a lease from French women’s fashion house Devernois to open a Rolex boutique on the Bahnhoffstrasse.

Jaeger Le Coultre and another unidentified watch brand are set to open shops on the street, following other openings by IWC and Omega.

In the past year, the number of luxury watch and jewellery shops on the Bahnhofstrasse increased by six to 28, Location Group said.

Other familiar brands not involved in the luxury sector are still making their mark felt on the street.

Apple, for example, is ringing in annual sales of 225,000 francs per square metre at its store there, which amounts to 100 million francs a year.

This is the highest turnover (per square metre) for any store in the world, equalled only by Apples’s store in New York.

Clothing retailer H&M makes almost as much as Apple in Zurich, although it has much more space with three stores on the Bahnhofstrasse.

The rising rents — now higher than those on the Champs Elysées in Paris — have led to high turnover on the street, with tenants changing 53 times among its114 properties in the last decade.

Location Group’s information is contained in a detailed survey of 145 cities and resorts “of the jetset fashion world”.

Malcolm Curtis (news@thelocal.ch)

Facebook Twitter Google+ reddit

Your comments about this article

Today's headlines
'Protect Swiss waterways or lose our fish': WWF
Photo: Richi Stadelmann/WWF

Eighty-five percent of fish species in Switzerland are under threat, according to a report by the World Wildlife Fund (WWF).

SBB pilots new annual pass – costing 12,200 francs
The 'door-to-door' pass includes use of an electric car. Photo: SBB

Swiss federal railways (SBB) is looking for 100 people willing to pilot a new annual transport pass that includes use of an electric car.

Immigration to Switzerland falls as emigration rises
File photo: The Local

Immigration in Switzerland has fallen considerably this year, according to official figures.

Wawrinka aces his way into Basel quarterfinals
Photo: Fabrice Coffrini/AFP

The home favourite returns to the quarterfinals of the Swiss Indoors for the first time in five years.

Illegal immigrant dies after setting himself on fire
The victim was treated at University Hospital Zurich. Photo: University Hospital Zurich

The 45-year-old Tunisian was threatened with deportation.

Swiss government rejects call for second immigration vote
Photo: Justus Blumer/Christophe G

The Swiss government has rejected a popular initiative calling for a revote on plans to limit immigration.

Bern: companies should report salary inequality by law
File photo: Fabrice Coffrini/AFP

The Swiss government wants to force small companies to examine their rates of pay every four years.

Husband in custody after Orbe body identified
File photo: Bas Leenders

The deceased is a 55-year-old woman who lived in the house with her husband.

Presented by MoneyPark
How to get a mortgage in Switzerland
Houses in Zürich. Photo: Pixabay.

Ready to buy? Here’s what you need to know as an expat about Swiss regulations, how to finance your purchase, and why you should use a broker.

Autumn in Switzerland: ten stunning Instagram photos
Photo: Swiss Tourism/Jan Geerk

Switzerland is beautiful in all seasons, but as these photos show, autumn is a special time in the alpine country.

Photo: Unterirdisch Ueberleben
Inside Switzerland’s largest nuclear bunker – 40 years on
Sponsored Article
Last chance to vote absentee in the US elections
Photo: The Local
Ticino firefighters rescue cow from swimming pool
Photo: Antoni Da Campo
Vegan wins battle to be accepted by Swiss army
Photo: Swiss Tourism
Ten Swiss ski resorts named most expensive in Europe
Photo: Randy Kashka
Swiss women will ‘work for free’ for the rest of year
Photo: Swiss Tourism
Montreux throws hat in Olympic rings
Photo: Swiss Tourism
Seven things you’ll miss about Switzerland if you leave
Photo: Richard Juilliard/AFP
Man makes Geneva airport bomb threat ‘for a joke’
Photo: AFP
Solar Impulse team reveals plans for unmanned plane
File photo: Martin Abegglen
Swiss to vote on passport rules for 3rd gen foreigners
Photo: AFP
Swiss wingsuit hotspot Lauterbrunnen won’t impose ban
Photo: Swiss Tourism
Six reasons Switzerland isn’t as boring as you might think
Photo: Swiss Tourism
Report: Switzerland one of world’s best places for girls
Photo: The Local
Thief returns Swiss cow bells worth thousands
File photo: Wikimedia Commons
One in three rapists isn’t locked up: statistics
Photo: activistin.ch
Tampon-tax protest turns Zurich fountains red
Photo: AFP
Geneva police to lift ban on bearded officers
Photo: Marcel Gillieron/AFP
Suicide chef’s restaurant keeps Michelin stars
Photo: Lara de Salis
11 things the Swiss get tired of hearing abroad
Photo:  Ivo Scholz/Swiss-image.ch
Survey: expats in Switzerland have money but few friends
Photo: AFP
Swiss press criticize Bern’s 'capitulation' on immigration
Photo: Jura Trois Lacs tourism
German ex-policeman is Swiss city’s new hermit
Photo: Dmitry A. Mottl
Ticino votes to favour local workers over foreigners
jobs available