According to the NF Group consulting company, the upper limit of the rental rate range on Nevsky Prospekt, one of the main shopping streets of St. Petersburg, reached 15,000 rubles per square meter per month by the end of the third quarter of 2024, which is 25% higher than the June figure. The share of vacant space on the main part of the avenue remains at a minimum level and is only 2-3%, which is a record low for the last 8 years. Since the beginning of the year, 57 new shops and catering establishments have opened in the studied location, while 50 closures have been recorded, which indicates an active rotation of tenants of high-quality retail premises.
According to the results of the third quarter of 2024, the share of vacant street retail space on Nevsky Prospekt was 4.4%, which is the lowest figure in the last 8 years. The vacancy rate in the main part of the trade corridor has remained stable for a year and is 2-3%.
The Old Nevsky part is at the stage of active transformation after the closure of international brand stores, restoration of facades and reduction of pedestrian traffic has changed significantly. A large amount of vacant space available for rent at the beginning of the year had already found its tenants by autumn. By the end of September, 8.4% of the space remains vacant here.
Since the beginning of 2024, 57 shops and catering establishments have been opened and announced to open on the main street of the city, and 50 have closed, in turn. This is higher than the same figures last year. For comparison: in the first nine months of 2023, similar indicators on Nevsky Prospekt numbered 49 and 31, respectively. A high rotation of tenants is typical for Nevsky Prospekt, where the composition of tenants varies by an average of 20-30% per year.
The largest number of openings (18 outlets) on Nevsky Prospekt is traditionally noted in the catering segment. The share of cafes and restaurants has increased from 34% to 37% since the beginning of the year due to the growing tourist traffic. Such establishments as the Meze restaurant of Turkish and Mediterranean cuisine (Nevsky Prospekt, 140), the Asiatiq ramen bar (Nevsky Prospekt, 130), the Mettea cafe-tea room (Nevsky Prospekt, 106) were opened, and the opening of the Beverly Hills pop-cultural bar on Nevsky Prospekt was also announced- those, d. 96.
Among the fashion retailers that have opened their stores on Nevsky Prospekt since the beginning of 2024, only one brand is international – Eleventy (Italy). A third of all new discoveries in the segment of clothing, shoes and accessories are formed by local St. Petersburg brands (Norppa, Bat Norton, Griol and others). In addition, two Siberian fashion retailers have entered the market: Suborbia and Achers (a casual clothing brand and a women’s clothing store).At the same time, the number of temporarily closed stores of international brands decreased from six at the beginning of the year to two in September (Commedes Garcons and Brunello Cucinelli).
Since January, there have been several isolated cases of “migration” of boutiques from one fashion location to another. So, Nikita Efremov’s limited-edition clothing, shoes and accessories store moved from Staro-Nevsky Prospekt to Bolshaya Konyushennaya Street, and the Radical Chic store moved to Bolshoy Prospekt P. S.
The negative dynamics of openings compared to closures is noted among grocery stores and banks. Such network brands as Vkusville (Nevsky Prospekt, 130), Dixie (Nevsky Prospekt, 91) and AB Daily Market (Nevsky Prospekt, 142) vacated the premises.Catering and entertainment establishments have opened in place of all closed grocery stores. At the same time, most of the banks’ premises are still empty. Among the banks, the closure of branches was noted at Rosbank (Nevsky Prospekt, 68a), Otkritie Bank (Nevsky Prospekt, 68a), Rossiya Bank (Nevsky Prospekt, 139), Sberbank (Nevsky Prospekt, 99-101) and Citibank (Nevsky Prospekt, 68a). Among the discoveries is a branch of VTB Bank at 68a Nevsky Prospekt.
Anna Lapchenko, Director of the Retail real estate Department of NF Group in St. Petersburg: “The upper limit of the requested rental rates on Nevsky Prospekt has increased from 12,000 rubles per square meter. m per month (incl. VAT) in June up to 15,000 rubles in September. It is too early to talk about a steady trend associated with the rapid growth of the indicator throughout the trading artery, but the presence of such examples indicates a consistently high demand for street retail premises. Our city is interesting for Russian and international tourists, which, among other things, increases the demand for commercial space in the city center. The limited supply of high-quality facilities on Nevsky Prospekt, combined with an active rotation of tenants, maintains a high level of interest from brands, especially in the catering segment, as well as clothing and footwear. The departure of international brands has opened up new opportunities for Russian and local players, which also contributes to the growth of rental rates. In general, Nevsky Prospekt continues to play an important role in the development of St. Petersburg’s economy, attracting retailers, investors and developers. In the future, we expect Nevsky Prospekt to further strengthen as a center of attraction for new trade and service formats, especially given the ongoing transformation and adaptation of commercial spaces to new consumer trends.”
Источник: www.bsn.ru
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