Gallery Shopping Center in St. Petersburg
In St. Petersburg, reduced the level of free retail space
Colliers International, an international consulting company, predicts that in 2018 the vacancy rate in St. Petersburg shopping centers may become the lowest in the history of the modern retail real estate market.
In 2017, almost two times more new brands appeared in St. Petersburg compared to the previous year, which led to a decrease in free space in shopping centers by 2,2% over the past year. In 2017, 46 new operators entered the St. Petersburg market, opening the first single-brand stores, compared to 26 a year earlier. In addition to Russian brands, which accounted for more than half of the new players, Petersburg attracted 8 Italian and 6 American retailers.
“At the end of 2017, the vacancy rate in St. Petersburg shopping centers amounted to 5,2%, down from 7,4% at the end of 2016. In the highest quality shopping centers of the city, such as, for example, Gallery, MEGA-Dybenko and MEGA-Parnas, Summer and Nevsky Center, the occupancy rate reached almost 100%, while a year earlier the vacancy was about 1,2%, says Veronika Lezhneva, director of research at Colliers International Russia. “While maintaining the pace of development of operators, the vacancy rate in shopping centers by the end of this year could be halved and reach the minimum value in the history of the modern retail market in St. Petersburg.”
The highest activity was observed in the fashion segment. If in 2016 fashion-operators only resumed their development after the crisis and formed less than half of the number of new brands, then in 2017 this segment accounted for two-thirds of all new names for St. Petersburg. The British shoe brand Barbour entered the St. Petersburg market; Italian Herno, Lorena Antoniazzi, Peserico, Salvatore Ferragamo, represented earlier only as part of multi-brand stores, and others.
Colliers International, an international consulting company, predicts that in 2018, the vacancy rate in St. Petersburg shopping centers may become the lowest in the history of modern ...
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Retail Arithmetic
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