The vacancy rate in the main shopping corridors of the Northern Capital in 2020 reached its maximum value over the past five years - 15,7%, - says the Colliers International report.
The sharpest growth in the vacancy rate was recorded by Colliers analysts in the second quarter of 2020, when the share of vacant premises increased by 5,9 pp. and reached 12,9%. In the second half of the year, the vacancy rate grew at a more moderate pace.
The number of closures in St. Petersburg's street retail in 2020 amounted to 191, which is 3,5 times more than the result for the previous year. Most of the closures were in the catering sector, however, shops operating in the fashion segment were also closed. In particular, the shops Philipp Plein, The Collection, DRESS-code left Staro-Nevsky Prospekt.
However, the report also highlighted an increase in apparel and footwear store openings in 2020, despite the difficult economic situation caused by the Covid-19 pandemic.
At the end of 2020, the highest vacancy rate was recorded on Staro-Nevsky Prospekt - 18,1% (against 13,7% in 2019). The largest growth in vacant premises was in Nevsky Prospect and Bolshaya Konyushennaya Street, where most of the closures were in the catering sector. The vacancy rate for Nevsky Prospekt increased from 3,8% in Q2019 15 to 2020% in Q13 XNUMX. About XNUMX% of closures on Nevsky Prospekt were in souvenir shops.
The vacancy rate for Bolshaya Konyushennaya Street at the end of 2020 amounted to 15,5%, having increased by 9,9 percentage points over the year. In just a year, 11 premises were closed on the street, mainly catering establishments and clothing and footwear stores. One of the closed stores was the store of the Italian fashion brand Brunello Cucinelli, which moved to Staro-Nevsky Prospekt.
Vacancy rate of Bolshoy Prospekt PS over the year increased by 5.8 p.p. and by the end of the year reached 15,7%. In 2020, clothing stores Laurel, Fabiana Filippi, Paul Zileri were closed there. Almost half of the new openings were in clothing stores and catering.