The share of vacant space in the street retail segment in St. Petersburg continues to decline St. Petersburg, Staronevsky Prospect
02.07.2018 2449

The share of vacant space in the street retail segment in St. Petersburg continues to decline

On the eve of the mundial, the vacancy of premises in the trade corridors of St. Petersburg fell to 6%, and the most popular trade corridor was Staronevsky Prospekt, according to a report by Colliers International, an international consulting company. 

According to the results of half a year, on the eve of the World Cup, the total vacancy of premises in the street retail segment in the central trading corridors of St. Petersburg decreased from 6,5% to 6%, and Staronevsky Avenue was the most popular and at the same time the most dynamic trade corridor.
On the one hand, in the second quarter of 2018, it accepted the largest number - eight new tenants, on the other hand - it shows the highest quarterly and annual rates for changing retailers among the key shopping streets of the city. In total, compared with the same period in 2017, the volume of empty retail space on Staronevsky Prospect was halved - from 8 to 4%.

The company rotation level in the Staronevsky prospect zone for the year amounted to 31%, for the first half of the year - 22%, and in the second quarter - 13%. Over the past year, tenants most active here have been changing, working in the segments of fashion, catering and supermarkets.

So, in the second quarter, the Xlash exclusive cosmetics store was replaced by Refaced designer glasses boutique, and ELNY and the dynamically growing Unique Fabric women's clothing store chain joined the segment of fashion operators.

Stock Outlet branded clothing store was opened on Nevsky Prospect, village of 158, and Rolex will soon join Rolex in Salvatore Ferragamo, St. James and Wolford on Nevsky Prospect, village of 150.

According to Colliers International, out of more than 900 premises on the central trading corridors of St. Petersburg, 30% rent cafes and restaurants, fashion segment operators work in 20%, and service companies of the various fields, from communication stores to travel agencies, rank third with 8%.

“Since the beginning of the year, the share of free space in the street retail segment on the central trading corridors of the city continues to decrease smoothly, which was due to the high tourist season, coupled with such major events of an international scale as the St. Petersburg Economic Forum and the World Cup. We expect that in the future the development of the street retail market will continue with strong and high-quality operators, and weaker players will reduce their presence, making way for network formats, ”comments Vladimir Kalichava, Head of Colliers International Retail Services Department.

 

On the eve of the World Cup, the vacancy rate of premises in the shopping corridors of St. Petersburg dropped to 6%, and Staronevsky Prospect became the most popular shopping corridor, according to the report of the international ...
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