Results of 1 sq. in the retail real estate market of St. Petersburg
30.05.2013 2656

Results of 1 sq. in the retail real estate market of St. Petersburg

GVA Sawyer has summed up the results of the 1st quarter in the retail real estate market of St. Petersburg. During this period, 103,8 thousand square meters of retail space was commissioned due to two projects of the holding company "Adamant": TK "Continent na Zvezdnaya" and TEC "Balkania NOVA". There was also a full opening of a shopping gallery in the Continent on Bukharestskaya shopping and entertainment complex, which was put into operation at the end of 2012. Thus, the total supply of leasable space in St. 1 amounted to 2013 thousand sq. M. The provision of the city's population with high-quality retail space was 3 sq. M. Per 548 residents.

The level of vacant space in the market on average for 1 sq. 2013 increased from 7-8% to 8-9% by the end of the quarter. This increase is due to the significant number of vacant space in large properties that opened at the end of 2012 - Q1 2013.

In particular, the facilities with a high level of vacant space include the Piterland shopping and entertainment complex, the Cosmos shopping center, the RIO shopping and entertainment center, Balkania NOVA and some others. At the same time, in long-running facilities located near metro stations or in residential areas, the vacancy rate rarely exceeds 1-2%. In 2013, according to GVA Sawyer's forecasts, the level of vacant premises will gradually decrease to 5-6%, the growing demand will be compensated by the commissioning of new high-quality premises.

According to the plans of developers, the volume of commissioning in 2013 will remain at the level of 2012 and should amount to about 270 thousand square meters of retail space. One of the most significant events will be scheduled for Q3. 2013 commissioning of the first regional-scale shopping center in the Krasnoselsky district - the Pearl Plaza shopping center. The opening of another project from the Adamant company (Zanevsky cascade III), as well as two projects of the Fort Group company (5 lakes and London Mall) is expected to be no less hotly.

In 1 sq. 2013 y. Rental rates were stable. However, in the future, moderate growth is expected, which in annual terms will amount to 7-10%.

GVA Sawyer has summed up the results of the 1st quarter in the retail real estate market of St. Petersburg. During this period, 103,8 thousand square meters of retail space was commissioned due to two projects of the holding company ...
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