Company News

08 october 2012

ASTERA signed a contract for rendering brokerage services for a new shopping center “Avenue”

ASTERA, an alliance member of BNP Paribas Real Estate, signed a contract for rendering brokerage services for a new shopping center “Avenue”. The shopping center is planned for commission in Q4 2012. Development Corporation “Elis” acts as a developer of the project.

“Avenue”, a two-storey shopping center, is a part of a multi-storey residential complex “OZERKI STYLE TOWER” located at the intersection of Vyborgskoe highway and Ho Chi Minha street. The first and the second floor are occupied by a trade zone, the parking lot occupies the basement floor.

Total area of the shopping center is 45 000 sq.m. Among the planned tenants are apparel, footwear and accessories shops. Moreover, it is planned to open a supermarket, a fitness center, an entertainment zone and invite restaurant operators to the center.

In 2012 "Elis" has commissioned shopping center "KOSMOS" in the residential complex "Dominant", Moscovsky District. Grocery freshmarket “Lime”, fitness club Family Fitness, perfumeries retail chain L’Etoile are among its tenants. Development Corporation “Elis” was founded in 1998. Today it has a leading position on the development market of residential and commercial real estate in St. Petersburg. During the past five years Development Corporation “Elis” has implemented seven projects of residential real estate and shopping and hotel complex "Vladimirsky Passage".

According to experts of ASTERA, an alliance member of BNP Paribas Real Estate, during the first three quarters of 2012 200,000 sq.m of space were commissioned on the retail real estate market of St. Petersburg. This equals total volume of space commissioned during 2011. It is planned to commission 93,400 sq.m. of leasable area in shopping centers before end of the year. For liquid retail premises occupancy rate remains at the level of 100% and the owners are expanding their waiting lists.

"In future the speed of commissioning will slow down because of the limited amount of available territories that are suitable for the construction of shopping complexes. New objects will appear mostly in residential development projects as part of the commercial infrastructure of new residential areas, "- says Ludmila Reva, director of ASTERA, an alliance member of BNP Paribas Real Estate.
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