On the shopping streets of Moscow - stability
20.12.2013 3004

On the shopping streets of Moscow - stability

Analysts of Cushman & Wakefield summed up the results of the year on the shopping streets of Moscow. According to them, rental rates throughout the year in retail corridors remained stable, however, on luxury shopping streets, several transactions were recorded at rates higher than average by 15-20%, which is associated with a small volume of vacant premises, and the tendency towards an increase in rental periods continued: three-year leases are becoming more common.

In 2013, there were no significant changes in tenants' preferences: the streets adjacent to the Okhotny Ryad, Tverskaya and Kuznetsky Most are still the focus of retailers. In the 4th quarter, point rental transactions were recorded with premises in Stoleshnikov Lane and on Petrovka.

An important new segment for street retail is the associated retail space in large office centers or multifunctional complexes that are capable of generating a unique flow of visitors with predictable solvency.

A significant event in 2013 was the opening of pedestrian streets in the city center. They have great potential in terms of trade and retailers have shown great interest in the walkable areas. Another initiative of the Moscow government, the introduction of paid parking in the city center, will also contribute to shifting the interest of premium segment retailers and public catering enterprises to new geographical market segments. The Garden Ring and adjacent streets can become a new center of activity.

Analysts at Cushman & Wakefield summed up the year on the shopping streets of Moscow.

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