European Petrol Retail Sector
European Petroleum Retail Sector
MarketView
CBRE Global Research and Consulting
September 2013
RENTS
STABLE
SALES
MODERATE GROWTH
FUEL VOLUMES
SLOWING DOWN
BUSINESS
CONFIDENCE
CONSUMER
CONFIDENCE
OVERVIEW
The West and North European service station networks consolidated further in 2012. Growth was reported in Central and Eastern Europe.
Market Overview
Country Specific
Sector Performance
Austria
Belgium
Bulgaria
Czech Republic
Denmark
France
Germany
Hungary
Italy
Netherlands
Norway
Poland
Romania
Slovakia
Spain
Switzerland
UK
1
Fuel volumes followed a similar trend.
Volumes in Western Europe were down by
3.0% on average in 2012 against increasing volumes of 6.6% on average across Central and Eastern Europe. Fuel sales turnover, however, was not greatly affected by the decline in volumes by virtue of the rising cost of fuel. As a result total fuel sales in some countries at the end of 2012 were either on a par with, or in a few cases even higher than, their level of a year ago. Belgium and
Denmark were prime examples of rising sales levels, in spite of lower volumes of fuel sold across both markets.
Chart 1: Site Count Total
100,000
90,000
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
Total
NW
Europe
CE
Europe
2009
2010
2011
2012
2013
In this issue
Source: Verdict Retail 2013
Service Station Rents were not compressed by the economic downturn in the same way as office and retail rents and remained stable. This indicates that strategically located sites can be a resilient asset class. Service station investment with a net initial yield of 5% were reported in the UK. This is comparable with investment yields of service station investments in other strong
European economies such as Germany,
Switzerland and Norway.
Market Share
Major and international oil companies hold approximately 50% of Europe’s service stations network according to
Verdict Retail. Their share has fallen by
5% since 2009. National and
Independent networks are expanding
MarketView
CBRE Global Research and Consulting
September 2013
RENTS
STABLE
SALES
MODERATE GROWTH
FUEL VOLUMES
SLOWING DOWN
BUSINESS
CONFIDENCE
CONSUMER
CONFIDENCE
OVERVIEW
The West and North European service station networks consolidated further in 2012. Growth was reported in Central and Eastern Europe.
Market Overview
Country Specific
Sector Performance
Austria
Belgium
Bulgaria
Czech Republic
Denmark
France
Germany
Hungary
Italy
Netherlands
Norway
Poland
Romania
Slovakia
Spain
Switzerland
UK
1
Fuel volumes followed a similar trend.
Volumes in Western Europe were down by
3.0% on average in 2012 against increasing volumes of 6.6% on average across Central and Eastern Europe. Fuel sales turnover, however, was not greatly affected by the decline in volumes by virtue of the rising cost of fuel. As a result total fuel sales in some countries at the end of 2012 were either on a par with, or in a few cases even higher than, their level of a year ago. Belgium and
Denmark were prime examples of rising sales levels, in spite of lower volumes of fuel sold across both markets.
Chart 1: Site Count Total
100,000
90,000
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
Total
NW
Europe
CE
Europe
2009
2010
2011
2012
2013
In this issue
Source: Verdict Retail 2013
Service Station Rents were not compressed by the economic downturn in the same way as office and retail rents and remained stable. This indicates that strategically located sites can be a resilient asset class. Service station investment with a net initial yield of 5% were reported in the UK. This is comparable with investment yields of service station investments in other strong
European economies such as Germany,
Switzerland and Norway.
Market Share
Major and international oil companies hold approximately 50% of Europe’s service stations network according to
Verdict Retail. Their share has fallen by
5% since 2009. National and
Independent networks are expanding