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16 january 2014

In 2013 ASTERA leased and sold more than 160 000 sq. m. of commercial premises

In 2013 brokers of International Consulting Company ASTERA an alliance member of BNP Paribas Real Estate closed more than 200 lease agreements and sales contracts of commercial real estate premises in Moscow, Saint Petersburg and other regions of Russia. The volume of commissioned premises estimated to 161 000 sq. m.

Retail market was the most active market performer. In this segment ASTERA concluded 171 deals including 7 sales contracts. Volume of commissioned premises in shopping complex and street-retail amounted to 62 000 sq. m. With the participation of ASTERA, Italian Fashion House “PRADA” opened its first boutique in Saint Petersburg, and International Company “Quiznos” started the first two restaurants in the Northern Capital. New Russian brands in the sphere of food services, such as “RussoBurger”, “The Pub”, “Kronborg” entered the market. International and Federal Retailers, such as “Lenta”, “M.Video”, “Megastyle”, “Takko Fashion”, “”, “BML” increased their presence on the market.

In office segment results for the year exceeded the data of 2012 by 50%. Company acted as a consultant in 31 deals by leasing out and selling a combined total of more than 43 000 sq. m. of office premises. Such companies as “NefteGasOptimizaciya”, “TG Office Furniture”, “Coffee Cantata”, “Media Price” and others were among clients of ASTERA Office Real Estate Department in 2013.

Despite significant shortage of high-quality warehouses in Saint Petersburg, ASTERA substantially improved its performance in this segment. Compared to 2012 there was a 44% increase. In the course of 7 deals company brokers put into commission 55 000 sq. m. of warehouse and industrial premises in the Northern Capital.

While implementing the Regional Development Program announced in the beginning of 2013, some projects were realized in the regions of Russian Federation, including reconceptions and analysis of more effective usage of commercial real estate premises in Surgut, Sergyev Posad, Tolyatti, Smolensk and other cities of Russia.

“Market is not that simple. Decreased level of purchasing power reflects negatively on network development which leads to decline in sales. Nevertheless, in 2014 we are looking forward to progressive development of all segments. Investment sector will continue to grow. Major interest will be still concentrated on stabilized assets which generate significant cash flow. Office segment, remarkable for its record volume of premises put into commission for the last 5 years in 2013 (216 thou. sq. m.), will continue its development mainly in Class A. Demand is still concentrated on premises with area of 300-600 sq.m. in Centralny, Moscovsky, and Petrogradsky Districts. Growth of rates will take place only within indexation. Increasing supply and stable high demand for retail real estate allow us to make optimistic forecasts concerning the balance of supply and demand. The deficit of supply will remain on the warehouse real estate market. We forecast further increase of land sale agreements for “built-to-suit” projects,” – said Ludmila Reva, director of ASTERA an alliance member of BNP Paribas Real Estate.

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