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Russian retail has entered a new phase
24.01.2012 1754

Russian retail has entered a new phase

In the segment of shopping centers there has been some stabilization, experts at Astera BPN Paribas say. According to the results of the 2011 year, a stable level of demand for retail space led to the fact that the level of vacancy in high-quality facilities reached almost zero indicators.

In these conditions, the owners focused on improving the efficiency of existing facilities. A tool for working with tenants was used as a percentage of turnover. For the first time, the owners saw tangible benefits from this tool: it allowed to attract tenants and ensured the growth of income to the owner.
“The Russian retail market has entered a mature phase. The level of space requirements and the selectivity of retail operators have risen sharply due to the instability of financial markets. Retailers changed their development strategy: abandoning the orientation toward rapid quantitative growth of stores at any cost, they turned to a balanced policy of choosing each particular premises depending on the potential for its use, ”commented Olga Zbruyeva, head of the company's customer service department.

Restrictions on the construction of retail facilities in the center and the low volume of commissioning of new facilities make the rapidly developing retail chains turn to the street retail segment. The importance of image projects for retailers is declining. Many operators who previously occupied the premises of the premium segment on key trading corridors in Moscow close unprofitable stores and go to shopping centers or to the street retail segment in residential areas.

In the process of forming rental rates for retail space retail space, two different trends have emerged. On the one hand, rental rates are decreasing (up to 10%) for revalued properties with long exposure periods. On the other hand, there is an increase in rental rates (up to 25%) for liquid premises at the end of the contract and when the tenant changes on key shopping streets, the malls.ru website writes.

In the segment of shopping centers there has been some stabilization, experts at Astera BPN Paribas say. Following the 2011 year, a stable level of demand for retail space led to ...
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