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Rent in GUM can triple in price
29.04.2011 8074

Rent in GUM can triple in price

The Federal Property Management Agency is carrying out the assessment procedure for GUM, the building of which is to be leased by December 1, 2059 to the current tenant of the shopping center, the Bosco di Ciliegi group, in accordance with the government's decision, the Kommersant newspaper writes. Previously, the dates were until 2042.

 An official close to the Federal Property Management Agency notes that the new contract should provide for the possibility of subleasing GUM premises without tendering, as well as offsets on rent of all the amounts that the tenant spends on maintaining the building. This can increase the cost of renting space in the shopping center three times.

 Blackwood Managing Partner Konstantin Kovalev believes that the city’s income from the GUM commissioning could amount to $ 50-75 million annually.

In September, the FAS approved the sale of 49% of Bosco's shares to GUM for 5,5 billion rubles. The head of Bosco Mikhail Kusnirovich left 51% of the group.

The company has 100 mono-brand clothing and accessories stores, including Jean Paul Gaultier, Dolce & Gabbana, Hugo Boss, Armani, Max Mara, Kenzo, footwear, watches and jewelry stores. According to Timur Guguberidze, Chairman of the Board of the GUM Trading House, the purchase of a blocking stake in Bosco will significantly increase the attractiveness of GUM for shareholders.

The Federal Property Management Agency is conducting a GUM appraisal procedure, the building of which must be leased by December 1 to the current tenant of the shopping center, Bosco di Ciliegi Group, in accordance with ...
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