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01 october 2014

New residential district will occupy 50 000 sq.m in Priozersk

ASTERA an alliance member of BNP Paribas Real Estate developed construction master plan of new residential district with the area of 50 000 sq.m, by the side of the Vuoksi river within Priozersk city. Investments to the project will amount to more than 1.5 billion rubles.

Main task of ASTERA consultants was to develop construction master plan of new residential district of comfort class in Priozersk city, and to define quality characteristics of housing and recommendations for its positioning. Within project activities experts conducted the analysis of location and limitations in terms of project development, and made marketing analysis of local real estate market. They also evaluated absorption volume of housing in the district of Object’s location and made financial analysis of the project. LLC ‘PO‘Lider’ is project’s developer.

The Object of research is a land plot with the area of 244 200 sq.m located at the address: Leningrad region, Priozersk, territory of Priozersk wood-processing plant, Kalinina str., 49a. Land plot is fully owned by the developer. On the territory of the plant it is expected to construct multifamily low-rise residential buildings with total area up to 50 000 sq.m. (about 800 apartments), individual cottages, and also to reconstruct large industrial buildings into social, sport, and cultural public premises. According to the project, it is planned to improve the embankment on the left riverside of Vuoksi, and to construct here yacht club and a hotel.

‘Priozersk is a tourist resort and recreational center. Ladoga Lake is a popular place for water activities. The territory of research is located on the 1st line of Vuoksi River (outstretch of the plot along the river estimates to about 1 200 m) which is a very important advantage of the Object. This factor allows having a great number of apartments with good view characteristics. This also gives an opportunity to organize beach area and quay for boats and motor boats. Therefore, view characteristics of the project are considered to be unique’, - comments Alexey Gulevskiy, head of Consulting Department at ASTERA an alliance member of BNP Paribas Real Estate.

The improvement of transport accessibility of new residential district will allow the construction of Novopriozerskoe highway in the following 3-5 years. When all the road works are completed, it will be possible to reach Priozersk in 1.5-2 hours.

‘In general, the potential of the plot for allocation of residential complex is high, however, phasing is necessary: project’s division into phases and step-by-step introduction of housing during the period of 4-5 years’, - concludes Alexey Gulevskiy.

As for apartments’ structure it is recommended to have mostly 2-bedroom apartments with the area of 55-70 sq.m (40-45% apartments), 1-bedroom apartments with the area of 40-45 sq.m (25-30%), and 3-bedroom apartments with the area of 70-95 sq.m (25-30%).

In the cottage development area (1 ha) the sale of land plots with contracts – plots with area from 12 to 19 ha with possibility of choosing houses of different architectural styles from 2-3 typical variants of individual residential construction with area from 150 sq.m to 250 sq.m.

Investments into the project will amount to more than 1.5 billion rubles not including land cost and demolition expenditures on existing industrial buildings

‘Initial apartment cost within 1st phase is planned to be in the amount of 45 000 RUR/sq.m. Based on conducted research and developed financial project model, ASTERA experts made a conclusion that the project is economically attractive’, - comments Alexey Gulevskiy.

‘I’m satisfied with the results of our teamwork. Prepared master plan is already used for the development of project decisions. At the moment we are choosing a partner who will be responsible for construction of residential houses and commercial real estate premises outlined in the project’, - announced Vladimir Posdnyakov, CEO of LLC ‘PO‘Lider’.

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