According to Nikoliers, 40% of the retail space available for lease in Moscow City is occupied by food service establishments. This situation applies to the first quarter of 2022.
Research conducted by Nikoliers confirmed that the amount of available retail space in the Moscow International Business Center (MIBC) has been declining since July of last year (the changes did not affect Neva Towers or Afimall City ). At the end of the first quarter of this year, this figure reached 12%. The data was released by TASS.
The specialists involved in the study noted: "The first quarter of 2022 was characterized by a reduced vacancy rate, which spread to many retail areas in the Moscow International Business Center. It exceeded the July figures of last year, reaching 12%. The highest vacancy rate was observed in 2022 at the Mercury Tower , where four premises were closed. Currently, the Mercury Tower has the largest number of vacant spaces (at least 33%). A smaller number are found at the Evolution and Federation centers (19% each)."
Nikoliers representatives were able to determine the situation in the first quarter of 2022. During this period, the following situation was observed among those who rented retail space from the Moscow International Business Center:
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the share of enterprises related to public catering is 40%;
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the service sector, represented by travel agencies, tailor shops, dry cleaners, etc. – 13%;
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enterprises related to beauty and health – 11%.
About 6% of the premises were affected by occupancy rotation or were occupied by new tenants. Up to 7% of previously vacant buildings also acquired tenants.
Nikoliers predicts that traffic in the Moscow International Business Center's shopping malls will continue to recover. This will be facilitated by the lifting of restrictions related to the coronavirus pandemic and the return of some employees to traditional work arrangements. This opinion was expressed by V. Lezhneva, Director of the Research Department at Nikoliers.
The specialist also clarified: "After retailers from other countries suspended their operations, there were no significant changes in the operations of the retail chains within Moscow City. This situation is due to the fact that the vast majority of properties within Afimall City are leased. The impact of sanctions forced the closure of the Starbucks coffee shop located in the Naberezhnaya Tower. Other foreign operators continue to operate as before."
Nikoliers representatives analyzed at least 300 commercial premises in business centers owned by the Moscow International Business Center. More than half of the business center's retail infrastructure was allocated to three properties. These included IQ-Kvartal, Federation, and Capital City (excluding the area allocated to Afimall City).
Since 1994, Nikoliers, a consulting firm, has represented the international Colliers brand. Since March 2022, it has been operating independently in Russia.
