Galereya shopping mall lost 35 tenants
07.07.2015 5814

Galereya shopping mall lost 35 tenants

Petersburg shopping and entertainment complex "Gallery", owned by the American fund Morgan Stanley, this year has lost more than 35 tenants. Among those who left the "Gallery" are such large brands as Baldinini, River Island, Calliope, Sinequanone, Warehouse, etc.

The main reason for the outflow of tenants is the rise in rents, set in US dollars, against the backdrop of a fall in the purchasing power of the population. Unlike other shopping malls, Gallery has not fixed the exchange rate, and even taking into account the discount provided to tenants in the amount of 15-30%, the activities of some of the stores became unprofitable.

Galeria was unable to find new long-term tenants for all of the vacated areas; it put temporary operators in some premises in order to receive at least some income from the lease of these areas.

Many of the Gallery's tenants who have taken their seats since its opening have five-year leases that will expire by the end of this year. Some are trying to wait until the end of its validity, because, having moved out earlier, they will not be able to collect the deposit, and it is equal to the payment for 2 months of rent - at least 1 million rubles.

Petersburg shopping and entertainment complex "Gallery", owned by the American Morgan Stanley fund, this year has lost more than 35 ...
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