The book addresses the relationship between spatial planning and real estate cycles as influencing factors on structural change in retail. The main thesis is that, particularly concerning the critically important type of large-scale shopping centers, spatial planning is only effective to a limited extent. This thesis was examined through a comparative approach between two countries with different traditions and orientations in spatial planning: the United Kingdom and Germany, specifically the two metropolises of London and Berlin. A surprising result highlighted that urban governance retains a guiding influence. However, this influence pertains only to the locations, not to the transformation of business types itself, and it also requires complementary governance at a supralocal level.