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Colliers summarized retail property market in 2014
22.01.2015 3045

Colliers summarized retail property market in 2014

The main trends of last year were the record entry of new retail facilities, the revision of commercial conditions in most metropolitan malls and an increase in the level of vacant premises, according to an analytical report of the Moscow retail real estate market in 2014, compiled by Colliers International.

The structure and volume of demand for retail premises have undergone significant changes under the influence of the unstable economic situation in the country, a decrease in retail trade and a decline in consumer purchasing activity. Tenants gave preference to existing facilities with a good location and high traffic, which affected the occupancy rate of new shopping complexes. In addition, the share of lease agreements, where the rate is indicated in US dollars, has significantly decreased in favor of “ruble” contracts, the study notes.

In 2014, many retailers adjusted their development plans. About 10 international retailers decided to leave the Russian market. At the same time, more than 40 new brands opened the first stores in Moscow and major Russian cities. Most of the new brands are represented by fashion segment operators (59%): Monki, Lefties, Forever 21, Isabel Garcia, Suitsupply, Deichmann, etc.

At the end of 2014, 16 professional shopping centers were commissioned in Moscow with a total rentable area of ​​761 square meters. m, and the total supply (GLA) of retail property in the capital reached 880 million square meters. m

At the same time, new shopping malls often had difficulty attracting tenants. For example, in some projects, due to low occupancy at the time of commissioning, more than 70% of the premises were empty. As a result of falling demand from retailers, the vacancy rate on average in Moscow rose to 6%.

In 2015, 26 professional shopping centers are announced to open in Moscow, including facilities that were not commissioned in 2014: Mari, Columbus, Central Children's Store on Lubyanka and Kuntsevo Plaza. Also, in 2015, it is planned to launch several super-regional facilities, including the RIO shopping and entertainment center on Kievskoe highway, Riviera and Zelenopark.

The main trends of last year were the record commissioning of new retail facilities, a review of commercial conditions in most metropolitan malls and an increase in the level of vacant premises, it is said in ...
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