GVA Sawyer presented three new retail park projects - two in the Moscow Region (Volokolamsk and Dmitrovsky District) and one in Kazan - at the III Annual Commercial Lease-2011 Exchange (KomAR).
At a press conference, Yulia Merova, Deputy Director of the Commercial Real Estate Department of GVA Sawyer, spoke about how the concept of retail parks works in America, Europe and Russia, what features this format has in individual countries, how retail parks change during a crisis and how in this way they adapt to the new demands of tenants.
“As a rule, the format of the retail park is a complex of free-standing large-format retail facilities located on a single territory and united by a common parking lot. According to the American concept, these are three or four operators located in a complex with a very small shopping gallery or even without it, ”said Yulia Merova. In Russia, the needs of the market are slightly different from Western ones, which means that the format of the retail park is adapted to national specifics.
Thus, the project of a retail park in Volokolamsk, which will be located on a plot of 7 hectares, in addition to two large tenants, also involves the construction of a shopping gallery. As Ms. Merova notes, this decision is due to the demand of the residents of this area for a similar format of trade, as well as the owner's ability to receive additional income (due to higher rates for areas of smaller cuts). Negotiations are currently underway with potential tenants. The planned terms of the retail park implementation are 2011-2012.
Another retail facility that will appear in the Dmitrovsky district of the Moscow region, on the 10 Ga site - in the Mechta residential complex - also involves some deviations from the classic format of the retail park. The project will include not only three anchor tenants (a hypermarket, a building materials retailer, a sports goods operator), but also a sports and entertainment zone. According to a marketing research conducted in this area, a sports and entertainment format will be in demand in this place and will allow to generate a good flow of visitors to the object. Duration of the project - 2012-2013.
Another retail park, which was described by Julia Merova, is scheduled for opening in 2012 in Kazan. The project was developed as part of the reconstruction of a building with an area of 20 thousand square meters in the Kirovsky district of the city. The project does not quite correspond to the American model, but fits the retail park in its essence. Two or three large tenants will be placed there.
“The format of the retail park is becoming increasingly popular in Russia. Obviously, in the future it will take its rightful niche in the domestic market, ”concluded Julia Merova.