“Embankment of Europe”
02.05.2012 1834

“Embankment of Europe”

Elite Goods Quarter to Be Created in St. Petersburg

Within the framework of the development project “Embankment of Europe”, a trade zone for luxury goods will appear in St. Petersburg. Experts believe that after the opening in August of a similar, "luxury" TC "Mercury", this segment in the city will be oversaturated.

Representatives of the consulting company Jones Lang LaSalle unveiled the concept of the trading zone of one of the largest projects in St. Petersburg - “Embankment of Europe”. The developer of the project, the launch of which was planned for the 2016 year, is VTB-Development.

“The concept of the commercial component, corresponding to European analogues, will emphasize the image of the project and the high quality of housing,” says Vladislav Nikolaev, head of retail real estate consulting at Jones Lang LaSalle in St. Petersburg.

Experts believe that this will provide the necessary flow of visitors, allowing you to create momentum for retail operators.

Vice President of VTB Bank Alexander Olkhovsky confirmed that work on creating a concept for the development of the "trading part" of the project has been completed.

“The work was carried out in several stages, and the concept itself was the result of cooperation between several consulting companies and an investor in the Embankment of Europe project,” Alexander Olkhovsky said to Firstnews.

The trading function will include several zones. The first one, premium-class clothes, shoes and accessories, will be located on the street retail premises, in the central trading part - “The Square of Russian Ballet Stars”.

The second part, designed for the less affluent public, will appear along the pedestrian promenade. Five restaurants operating in the medium + / premium segment will open here. Another restaurant with an area of ​​about 1 000 sq. m will appear on the top floor of the shopping and office center. On the pedestrian promenade there will also be a zone with interior salons. In addition, show rooms and premium / luxury SPA will open.

Street retail will also feature thematic alleys, including gastronomic (wine, tea, coffee, sweets, cheeses, cigars, etc.), an alley focused on education & lifestyle operators, etc. (premium supermarket and fitness center), as well as cosmetics, accessories, jewelry stores, clothing and shoe stores.

Shops operating in the “medium plus” segment are allocated a place on the ground floor of the shopping and office center.

For St. Petersburg, the luxury format is not new, but it cannot be called widespread. Now the city has one complex of this kind - the Grand Palace. In addition, in August, the Mercury shopping center opens. There are several separate stores located on the shopping streets - Nevsky Prospect, Bolshaya Konyushennaya, Bolshoi Prospect PS.

Experts doubt that Petersburg needs such a volume of luxury stores.

“The luxury market after the opening of TC Mercury will be close to saturation. This is primarily due to the very small size of the target group (no more than 1% of the population), ”says Vsevolod Shcherbakov, deputy director of the consulting department at Colliers International St. Petersburg. In addition, the proximity to Europe, providing a convenient opportunity to shop abroad, affects.

The investment project “Embankment of Europe” is being implemented in the central part of the city on a plot of 350 000 sq. m

It implies the implementation of the first elite residential block of 17 houses in St. Petersburg, as well as the formation of a public-trade zone, including a pedestrian shopping zone with an area of ​​20 000 sq. m level upscale / premium / luxury, writes

A quarter for elite goods trade will be created in St. Petersburg Within the framework of the development project “Embankment of Europe”, a luxury goods trading zone will appear in St. Petersburg. Experts believe that ...

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