“Embankment of Europe”
Elite Goods Quarter to Be Created in St. Petersburg
As part of the development project "Embankment of Europe" in St. Petersburg, there will be a zone for trade in luxury goods. Experts believe that after the opening of a similar "luxury" shopping center "Mercury" in August, this segment in the city will be oversaturated.
Representatives of the consulting company Jones Lang LaSalle have unveiled the concept of a shopping area for one of the largest projects in St. Petersburg - "Embankment of Europe". The developer of the project, which was scheduled to be commissioned in 2016, is VTB-Development.
“The concept of the retail component, corresponding to European counterparts, will emphasize the project's image and high quality of housing,” says Vladislav Nikolaev, head of consulting in retail real estate 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 the work on the concept of the development of the "trade 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 the investor of the Europe Embankment project,” Alexander Olkhovsky told Firstnews.
The trading function will include several zones. The first - premium-class clothing, footwear and accessories - will be located in street retail premises, in the central shopping area - "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 be represented by 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 shops of cosmetics, accessories, jewelry, clothing and footwear stores.
Shops operating in the “medium plus” segment are allocated a place on the first floor of the shopping and office center.
The luxury format is not new for St. Petersburg, but it cannot be called widespread. Now in the city there is one complex of this kind - "Grand Palace". In addition, the shopping center "Mercury" opens in August. There are several separate shops located on the shopping streets - Nevsky Prospect, Bol.Konyushennaya, Bolshoy Prospect PS.
Experts doubt that Petersburg needs such a volume of luxury stores.
“The luxury market after the opening of the shopping center“ 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, which provides 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 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 newsland.ru.
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