St. Petersburg, SEC "Gallery"
In 2022, the number of openings in St. Petersburg shopping centers decreased by a third
According to Nikoliers, in the first half of 2022, the average vacancy rate in the shopping centers of the Northern capital was 6,6%, having increased by 1,2 p.p. over six months. In a number of high-quality projects, vacancy remains at a low level - no more than 2% (the study does not take into account the areas of retailers that have temporarily ceased operations).
At the same time, the activity of tenants has significantly decreased. Compared to the first half of 2021, the number of new stores decreased by a third, and compared to the same period in 2019, by 1,5 times. Among the interesting ones, the following openings of 2022 can be noted: the first store of the EMKA brand in St. Europolis), department store of Russian designers SLAVA (TC Nevsky Center). In the future, an increase in the presence of Russian brands in shopping galleries is expected, as well as the emergence of new brands from Turkey, Iran, India, and China.
As of the end of June, the share of temporarily closed stores in shopping centers of various formats varies from 5% to 30% of the total leasable area of objects. The value has declined since March as a number of foreign brands have sold their Russian divisions and their stores have reopened under new names. Among such retailers are LPP, OBI, L'Occitane.
In the current situation with the suspension of operations of foreign brands, disruption of supply chains, sanctions restrictions, a surge in inflation and a decrease in purchasing power, shopping centers in St. Petersburg faced a drop in attendance. According to Focus Technologies, from the end of February to the beginning of June, the attendance of St. Petersburg shopping centers was at least 10% lower than a year earlier.
According to the results of the first half of 2022, the volume of supply of high-quality shopping centers in the Northern capital totals 3,238 million square meters. m in 127 objects. Over the past five years, the growth of retail space has remained modest, consisting of small district and specialized retail units.
According to Nikoliers, in the first half of 2022, the average vacancy rate in the shopping centers of the Northern capital was 6,6%, an increase of 1,2 p.p. over six months…
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