Real Estate

Work as a holiday

Anastasia Yasinskaya Dmitry Sinochkin

The rates of the office building, declared in Petersburg, are unprecedented. During the next five-year plan the total volume of proposal on the market for business- centers can increase into the fifth-sixth of times. Analysts with anxiety speak about the future over-saturation; however, thus far qualitative offices in the city still in the scarcity, and new buildings boldly declare the rates, which cause trembling in foreigners - without experiencing in this case problems with the leaseholders.

According to data of Becar Realty Group, Petersburg retains the third place in the value of lease rates in Europe after London and Moscow (in average $815/sq. m. per year for the class A against $1438 and $900, respectively). In this case the average level of the load of buildings - 97,5% - is higher than in Paris, London and the rest the rate of capitalization, according to the data Becar Realty Group, the highest in Europe (10% for acting aggregate categories A and c). In London it composes only 4%.

“The development of office segment can be considered one of the indicators,… which characterize business activity in the specific region. The current business fluctuations (drop in the stock market, fears, connected with the Russian-Georgian conflict the rest) in this market practically are not reflected. For it are important the long-run trends”, counts the general director of AN “[Adveks]” Vladimir [Gavrilchuk].

The business complexes of the new generation striking differ from the objects of economy-class, which still recently prevailed on the market. The masters of the latter were guided by the principle of moderation, economizing on the engineering and designer excesses and creating from the former shops, laboratories and Soviet offices the utilitarian offices, accessible to the wide masses “white collars”.

Nowadays in the mode bourgeoise nature and luxury with the attack of efficiency. To be reflected in the marble sexes of Hall, to get down on the panoramic elevator to the lunch into the land- bar and to stay [dopozdna] in the located here fashionable [fitnes]- club, the leaseholders are ready to pay to $800-1000/sq. m. per year for the pleasure (rate, however, increasingly more frequently they [nominiruyut] in the rubles). Upper price lath reaches $1200-1300 for “the square”.

The majorities of the realizable projects imply new building, but not reconstruction, which makes possible for [developeram] to effectively plan offices, after ensuring notorious open of space, to use a contemporary engineering filling with the elements of smart of house, to hide all wires under the false floor so that the client could arrange office equipment in the convenient for it places, use the ground floors under [parking] and the like garish, author's architecture it also becomes the part of this [dzhentlmenskogo] collection. For example, in the controlling company “theorem” they consider that the bright facade ensures to the business complex 75% success in the stage of filling. 2006- m “theorem” of [epatirovala] market by the business- center of class A on The [kamennoostrovskom] avenue with the [neproiznosimym] name “[Langenzipen]”. The interested persons it, however, rapidly learned - in many respects because of the architect [Sergeyu] To [chobanu], which lives and creates in essence in Germany. It decided to depict on the glass facade “Of [langenzipena]” Greco- Roman ornaments with the aid of the digital press. This “chip” managed then to investor approximately in 2,5 mln. Euros. Until today there are no vacant offices in “[Langenzipene]”, and the inquired rate (in the case, if someone of the leaseholders it moves out) is 1800-2000 rubles/sq. m. per month (more than $1000/sq. m. per year).

Collaboration [UK] “theorem” and Mr. [Chobana] continues. At the end 2007- GO for the market left the first turn [BTS] “of Benoits” (class a) on the Sverdlovsk embankment (former production area of plant “Russia”). Its facades decorate figurines in the theatrical costumes, devised to the ballet “Punchinello”. Figure on the glass- is also substituted on the special technology of digital press, developed in Germany. This summer business- center demonstrated practically 100%- load with the level of the rates of 1500-1800 rubles/sq. m. per month - unprecedented for this region.

The following object “of theorem” - [BTS] “[Obukhov]- center” (category Of [v]+) on the rest Of [obukhovskoy] defense, next to [KAD] - Sergey [Choban] dressed into the golden sheets from [alyukobonda] with the complex depressed patterns so that the complex would be from a distance noticeable with the annular.

The outlines of ship gave to constructed [BTS] “battleship” on the Petrograd embankment architectural workshop “studio 44” under Nikita [Yaveyn]'s management. Customer - company “[BFA]-[Development]”.

[BTS] “of avenue” on the pharmaceutical embankment, final at the beginning 2008- GO, designed in the style are sounding board workshop Mikhail [Mamoshina]. The building three horseshoe-shaped glass towers marry. Facade is finished by natural stone. Free areas in [developera] - the groups of companies “[Best]” - also practically it did not remain. Inquired rate - 2500 rub. /sq. m. per year.

Business outskirts

In last year everything was mixed on the Petersburg office market, whose participants, until now, very conservative related to the location of the business complexes of high level. In the city, where practically all infrequent business- centers of class A were concentrated in the zone of pedestrian accessibility from Nevsky Prospekt, respectable and large office centers now are built where conveniently - only not in “by gold triangle”. [Developery] count on a good transport accessibility of business centers, the presence of spacious [parkinga], expressive architecture and the most contemporary “filling”, as a rule, cannot propose (at least what, in the complete set) business complexes in the historical center.

Consultants carry to the potential clients of the outlying business- centers of logistic operators, production, financial, telecommunication and IT- company, [riteylerov] and the rest, i.e., the structure, to which the spacious Back- office is necessary or in principle are not interesting [predstavitelskie] accomodations in the center.

Consultants carry to the potential clients of the outlying business- centers of logistic operators, production, financial, telecommunication and IT- company, [riteylerov] and the rest, i.e., the structure, to which the spacious Back- office is necessary or in principle are not interesting [predstavitelskie] accomodations in the center.

Continue actively to be developed zones “Petrograd”, “Vyborg”, and also “old village”. In each of them more than hundred thousand sq. m. of new offices are planned.

Against this background more than modestly appears the cradle of Petersburg office market - zone “center 1” (environment of Nevsky Prospekt): in its portion it is only 0,5% of future proposal. “Gold triangle” exhausted possibility for the building of business- centers, and even projects, connected with the reconstruction, are here single”, comments on the team leader of studies and the analysts Of colliers Of international Valerie [Trushin].

To very promising promises to become the seaside region, where they will appear and the first office high-rises of Petersburg. Thus, to the beginning 2009- GO is planned the starting [BTS] of the level Of [v]+ in the composition of the commercial- office complex Of atlantic Of city on ul Of [savushkina], 126. Area of 28- storeyed office tower with the height of 98 meters - about 27 000 sq. m.

Mark into 75 meters will overcome the 21- storeyed building “international business center [RESO]” on cross-road of Herculean the rest and [Gakkelevskoy] ul at the end 2007- GO at the angle of Herculean the rest and the rest Of [sizova] (not far from [st].[m]. “commandant avenue”) began the building of the business complex Of sokol Of city (category Of [v]+, more than 70 000 sq. m. of offices). The holding “Of [lenSpetsSMU]” projects [BTS] “specific park” (total area - about 67 000 sq. m.) next to the station of the metro “pioneer”.

Among other office building of this region - projects “commander”, “mandarin”, new turns [BTS] “collaboration”, [BTS] “[YUIT] Of [lentek]” on seaside the rest and others

Magnet for [developerov] already became the route of annular highway. By the first office complex, neglected on [KAD], became [BTS] “[Obukhov]- center”. To the realization even of more daring project on the eastern side [KAD] it approached at the beginning 2008- GO Of becar Of realty Of group, which acquired into the property the unfinished housings of the plant of metal structures in the 3rd fishing passage, 3. total area of complex will be 98 000 sq. m. Quite scale from the declared northern projects - multifunctional complex “Neva City” in the sett. mounds, in composition of which are planned five 20- TI of the storeyed business- centers of category A and [V]+ by the total area of 100 000 sq. m.

The peak of [developerskoy] activity on [KAD] is thus far concentrated near the airport “Pulkovo”, where in the compact territory of business zone “Pulkovo -3” by the forces of the immediately several investors, including of international, is formed uniform office enclave with size to 250 000 sq. m.: [BTS] “Of [aeroplaza]”, Pulkovo Of sky, [MFK] Of airportcity Of st.Petersburg, “[VS] Of [development]” and other

When in Petersburg is not yet represented the size of business- parks very popular in the West, by which is understood the complex of the low buildings, united under general architectural concept. Such parks traditionally are built on the relatively cheap earth, in the region of annular highways. Due to this level of lease rates it is obtained to 30-70% lower than in the center. Into the composition of complexes besides office buildings can enter entertaining and commercial units, [fitnes]- centers, kindergartens, hotels, jars and the like

Analysts consider that such projects have in Petersburg large future. On the creation of business- park on 25 GA in the region [Kudrovo] declared the company Of setl Of city, which works in the tandem with [OOO] “the roads of northwest”. [Developery] examine two additional sections next to [KAD]. Company “[Evroport]” selects areas on 12-25 GA immediately under three business- parks in annular and it is intended to put in them on the whole $500 mln.

 “The majority of experts converges in the fact that the office market of Petersburg enters into the stage of over-saturation, count Ilya Yeremenko, Director-General of the company Of praktis [S]B. - The volume of the declared projects of percentages to 20 exceeds potential demand. … In this situation special importance acquire the competently studied concept and the quality of building, otherwise many new complexes will be empty”

Dynamics of average lease rates and fillability of Petersburg business- centers byclasses, 2002-2008.

Year

Rent rate, $/sq.m. per year

Vacancies, %

Class А

Class В

Class А

Class В

2002

508

320

7

5

2003

520

330

3

5

2004

550

370

1

6

2005

584

378

0

6

2006

650

410

5

5

2007

755

445

5

6

Июль 2008

822

506

4

2

Data from Colliers International Saint-Petersburg

 

Distribution of areas in business centers by class for the first half of 2008., %

Class А

14

Class В

50

Class С

36

Data from Becar Realty Group

 

Characteristics of several Petersburg office centers (as of 01.07.2008)

Business center

Address

Office area, sq.m.

Rent rate, conditional unit per sq.m. per year (with use)

Conditional unit

Burden, %

Atrium

Nevsky pr, 25

6000

700

Euro

98

Nevsky 38

Nevsky pr., 38

6730

1170 (incl. VAT)

35,0 rub.

100

Singer House

Nevsky pr., 28

4500

900-1100

Euro

80

Renaissance Plaza

Ul. Marata, 69-71

29 000

750

26,0 rub.

80

Petrovsky Fort

Finlyandsky pr.., 4

16 300

624-804 (incl. VAT)

29,5 rub.

99

City Center

Petrograd emb,, 18

25 000

14 880 -21 600 rub. (incl. VAT)

Not given

100

Langezipen

Divenskaya ul, 1

10 200

21 600-24 000 rub. (incl. VAT)

Not given

100

Senator

18th line V.O., 31 

20 000

19 200 rub. (incl. VAT)

Not given

99

Mangus

9th line V.O., 34

7700

675

27,0 rub.

100

Treugolnik

 

Obvodny canal emb,, 134-136-138

 

10 500

12 000 rub. (incl. VAT)

Not given

100

Benois

Sverdlovsk emb., 44

12 000

18 000- 21 600 rub. (incl. VAT)

Not given

97

Obukhov Center

Pr. Obukhovskoi Oboroni, 271, let. А

22 566

14 440-15 600 rub. (incl. VAT)

Not given

70

River House

Ul. Akademika Pavlova, 5

11 177

12 000-19 500 rub. (incl. VAT, without use)

Not given

100

Avenue

Ul. Akademika Pavlova, 5, let. А

17 000

30 000 rub. (incl. VAT)

Not given

95

Aquatoria

Vyborgsky emb., 61

19 000

14 400-18 000 rub. (incl. VAT)

Not given

98

Data from Nedvizhimost Peterburg

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