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Street retail in the capital is losing vacancy Flagship store Adidas Original on Bolshaya Dmitrovka
02.11.2016 3315

Street retail in the capital is losing vacancy

According to experts of the company JLL, which provides real estate services, the share of vacant premises on the main shopping streets of Moscow in the third quarter decreased by 2.8% and amounted to 10,2%. The most popular among retailers were Myasnitskaya Street and Patriarch Ponds - with a vacancy rate of 5,6% and 6,8%, respectively. They are followed by Arbat and Pyatnitskaya streets, with a vacancy rate of 8, 2%.

A significant reduction in the vacancy rate occurred on the streets of Novy Arbat (from 16,2% to 8,5%), Nikolskaya (from 25,8% to 15,9%), Bolshaya Dmitrovka (from 23,4% to 14,9%) and 1-I Tverskaya-Yamskaya (from 14,1% up to 9,9%).

As JLL experts note, a decrease in the share of free space is observed on all the streets of Moscow under consideration. In particular, the trend towards a reduction in free retail space is noticeable on Novy Arbat, where after the summer reconstruction, the number of vacant space was halved. The average rental rate on Novy Arbat has also increased - from 95 thousand to 100 thousand rubles. per sq. m per year, while rates in other major trading corridors remained unchanged from the last quarter.

Basically, new openings in street retail relate to catering establishments, restaurants account for 31,3% in the structure of tenants in the city center. A boutique of the French luxury shoe brand Cristian Louboutin has opened on Bolshaya Dmitrovka, a boutique of the Italian fashion brand Loro Piana has appeared in Tretyakovsky passage. The flagship store Adidas Originals opened this autumn on Kuznetsky Most; On the same street, the opening of another flagship sportswear is expected - Nike.

A boutique of the luxury shoe brand Giuseppe Zanotti has appeared in Stoleshnikov Lane.

Since the beginning of the year, the average rotation rate on the main streets of Moscow has been at the level of 8%. Most of the tenants changed at Kuznetsky Most and Bolshaya Dmitrovka - 21% on each street, as a result of which the level of vacant space at 6,2 percentage points decreased. and 8,5 p.p. respectively, compared with the 2-m quarter.

About a third of new tenants on Kuznetsky Most accounted for clothing, footwear and accessories stores, and on Bolshaya Dmitrovka 70% of “newcomers” were restaurants and cafes.

According to the experts of JLL, a real estate services company, the share of vacant premises in the main shopping streets of Moscow in the third quarter decreased by 2.8% and amounted to ...
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