According to the data of the consulting company NF Group in St. Petersburg, more than half of the commercial space (53%) in business-class residential complexes is filled within two years from the moment the house is put into operation. After two years or more, the average occupancy rate reaches an optimal 75-80%. Often, the first tenants in new business class facilities are precisely the order pick-up points, which accounted for 11% of all occupied areas since the third quarter of 2023. In St. Petersburg’s new business class buildings, 27% of the retail premises on display are objects worth 15-25 million rubles, and 48% of the offer are objects worth more than 40 million rubles. At the beginning of April 2024, the weighted average offer price in the segment increased by 8% in six months to 348 thousand rubles per sq. m. The weighted average rental rate did not change and amounted to 2,100 rubles per sq. m.
The occupancy rate of commercial space by tenants on the first floors of business class residential buildings in St. Petersburg depends on the time that has elapsed after the date of commissioning of the building. In the first year after the completion of construction, 90% or more of the space remains vacant. Within one to two years, the first floors of the complex are usually half occupied. After two years or more, the occupancy rate reaches an optimal 75-80%. At the same time, there are facilities where the share of unoccupied areas remains high (50% or more) even two years after the completion of construction. This may be due to the low liquidity of the premises, the discrepancy between their size and current market requirements, as well as inflated rental rates or sale prices.
At the beginning of April 2024, the area of vacant premises in business class residential complexes in St. Petersburg varies from 30 to 350 sq. m. At the same time, the most popular format for tenants and buyers is 50-150 sq. m.
Since the third quarter of 2023, the weighted average supply price of commercial space in residential complexes commissioned on the primary market has increased by 8% and amounted to 348 thousand rubles per sq. m.In St. Petersburg’s new business class buildings, 27% of the retail facilities on display are objects worth 15-25 million rubles, while almost half of the supply (48%) falls on objects worth more than 40 million rubles.
The weighted average rental rate remained at the level of September 2023 and amounted to 2,100 rubles per sq. m. month (excluding taxes and utility bills). In other respects, this indicator varies greatly depending on the area. For example, in the Moscow and Vyborg districts they are the lowest – 1,600 rubles per sq. m. per month, whereas in the Admiralteysky district the weighted average rate is the highest – 2,700 rubles per sq. m. per month.
The requested rental rates (on the part of the owners) are in the range of 1,000-4,500 rubles per sq. m. m per month and depend on the specifics of the location of the premises in the residential complex, its area and the quality of the finish.
Anna Lapchenko, Head of the retail real estate department at the NF Group consulting company in St. Petersburg: “Since the third quarter of 2023, 97 new retail outlets have appeared on the first floors of business class residential complexes. The most frequently opened establishments in the field of beauty and sports (29%), gastronomic projects (19%), pick-up points (11%), grocery stores (6%) and alcohol markets (5%). It is noteworthy that it is often the order pick-up point that becomes the first tenant in new business class complexes. In general, we observe great interest in street retail in residential complexes and note that previously operators, traditionally considering premises only in the city center, are now showing active interest in more remote locations with a suitable audience. Retail space can bring profitability up to 9-11% per annum, and the premises located in developing locations deserve the greatest interest.”
Источник: www.bsn.ru