New Balance store in Stoleshnikov Lane, photo: Shoes Report
Stoleshnikov loses the status of a luxury street
Since the beginning of the year, luxury and premium brands Michael Kors, Chaumet, Moncler and Jimmy Choo have closed in Stoleshnikov Lane, writes RBC.
According to the leading consultant of the retail real estate department of Cushman & Wakefield, Maryan Matuev, Van Cleef & Arpels also plans to move from the most expensive street, an area of about 370 sq. m in house number 9, which is occupied by this brand, is already being offered for rent. The opening of a new Van Cleef boutique is planned in Petrovsky lane.
It is assumed that the decline in popularity of Stoleshnikov is due to the lack of parking facilities. The lane became a pedestrian in 2012, the ban on parking deprived the street of its target highly profitable audience, which led to a decrease in tenant sales.
At the same time, rental rates in the lane remained unchanged for a long time. Last year, for the fourth time, Cushman & Wakefield recognized Stoleshnikov as the most expensive street in Russia in terms of the cost of renting retail premises - an average of € 3,1 thousand, or about 215 thousand rubles. at the then rate, for 1 sq. m per year. In Stoleshnikov, 15-year foreign exchange contracts continue to operate, the owners only agreed to fix the exchange rate, notes Marina Malakhatko, director of the CBRE retail department.
According to the JLL analytical agency working in the field of retail and warehouse real estate, due to the closure of stores at the end of the first quarter of this year, the share of vacant premises on Stoleshnikov increased to 13%. This entailed a slight decrease in rental rates. If at the end of last year the average rate amounted to 215 thousand rubles in rubles. for 1 sq. m per year, now - 205 thousand rubles. per sq. m per year.
By the end of June, the share of vacant premises in Stoleshnikovoy returned to last year's level - 11%. In the lane opened stores Richard Mille, New Balance and St. James
According to Emin Agalarov, vice president of Crocus Group, which owns retail real estate in the lane, which Miu Miu, Van Cleef, Prada rent for its stores, Stoleshnikov may lose the status of the most luxurious street in the city over time.
however, he emphasizes that so far none of the current tenants is going to move out.
Since the beginning of the year, luxury and premium brands Michael Kors, Chaumet, Moncler and Jimmy Choo have closed in Stoleshnikov Lane. It is assumed that the decline in popularity of Stoleshnikov is associated with ...
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