If you take a leisurely walk along Serrano Street on a frenetic Saturday afternoon, you will be greeted by a flurry of new stores, each vying for the attention of every curious shopper. On Calle Serrano alone, international brands such as Kenzo, Pinko and D´S Damat, which boast the latest in fashion trends, have already opened their flagship stores, adding to the exclusivity of the area. These are brand names that are a welcome treat for shoppers who want the latest in fashion. Joining the bandwagon are the Spanish brand Malababa, which recently launched its boutique at number 8 and the American car concessionaire Tesla with their new store at number 3. And if these major developments seem overwhelming, imagine the impact on the retail sector when top-of-the-line brands like Miu Miu and Salvatore Ferragamo inaugurate their stores at number 54 and number 68, respectively, with Lladró transferring to number 76.

Goya is another interesting high street to watch for. Despite the unexpected increase in vacant retail units on the odd-numbered side of the street, there have been recent shop openings from foreign brands led by FNAC, Aeropostale, Yamamay and Samsonite. In the investment market, the Montejo family office has put their two shops on the market for sale. And news of Uniqlo possibly establishing its first flagship store in Madrid in 2020 is already generating a lot of buzz as early as now.

Decathlon, on the other hand, recently inaugurated their giant store on Calle Ortega y Gasset as part of their active expansion plan while Oliver Peoples opted for the same location to display high-end designer´s sunglasses. Other retail firms that have chosen the so-called Golden Mile include: Bo Concept and Algo Bonito on Calle Lagasca, Bow Tie which opened their second store on Calle Jorge Juan, Alma en Pena which cut its inaugural ribbon on Calle Ayala, Weekend Max Mara and Sonia Rykiel which set up shops on Calle Claudio Coello, and Tumi, slated for number 54, replacing Uterqüe which has moved to number 52.

In view of this streak of happenings, one may be compelled to ask what attracts these fashion retailers to open shops in the capital´s Golden Mile. The answer may lie in the fact that the Salamanca District is an upscale shopping area that is not only home to exclusive brands such as Chanel, Prada, Bulgari, but also fast fashion brands such as Zara, Mango, Springfield and trendy brands such as Diesel, Guess, Pepe Jeans, etc. Thus, it caters to a wide spectrum of consumers that come from nearly all sectors of society.

But the commercial offering is not limited to fashion. One should not forget the specialized stores engaged in furniture (Becara), lamps (Kartell), wine (Laviña), antiques (Entredós Antigüedades) and art gallery (Galería Kreisler) to name a few. Likewise, the Salamanca District houses the country´s finest hotels that provide accommodation to the most discriminating travellers. Needless to say, they love shopping and the Golden Mile is the ideal shopping destination for them. In addition, among the 21 districts that make up Madrid, Barrio Salamanca is one of the very few districts which enjoy the presence of the three most important sectors in real estate: the perfect convergence of residential, office and commercial markets.

And let´s face it, the most expensive streets in this district - Serrano and Ortega y Gasset - are relatively accessible for many foreign brands compared to the stratospheric rents of Champs-Élysées in Paris, New Bond Street in London, Via Montenapoleone in Milan, and Bahnhofstrasse in Zurich. Monthly average rental prices for shops with 200 sqm in the main commercial stretch of Calles Serrano, Ortega y Gasset and Goya currently stand at €245 per sqm, €185 per sqm and €162 per sqm respectively while those on Calles Jorge Juan and Claudio Coello are in the region of €85 per sqm. In some cases, there is a need to shell out “key money” to secure the ideal premises. What other brands could still be introduced in the retail high street market? Barrio Salamanca would be happy to open its doors to European brands such as Fendi, Givenchy, Moschino, Chloe, Paul Smith, Moncler, Whistles, AllSaints, River Island and American brands such as Tom Ford, Tory Burch, Club Monaco, J. Crew, Kenneth Cole, Gap, Banana Republic, Old Navy and American Eagle Outfitters, among others.

There is a considerable demand for shops in Madrid both from local and foreign brands and fortunately for retailers opportunities abound.