Trade nearby
Retail real estate occupies a significant place in the projects of residential complexes and is becoming more diverse. Developers prefer to sell commercial premises. However, recently more and more players are taking retail under their own control in order to get a clearer and more understandable concept for the development of trade in the residential complex.
Business as the load
For the majority of housing developers, retail real estate is rather a non-core asset, says RRG Managing Partner Denis Kolokolnikov. They include trade infrastructure in investment projects for several reasons. Firstly, this is done for the convenience of future residents and to increase the added value of apartments. Secondly, developers have obligations to the city in terms of creating new jobs.
Developers often sell commercial premises after construction is completed, adds Evgenia Khakberdieva, regional director of Knight Frank's retail real estate department. However, already at the design stage, they highlight the main concept of the project and the proposed operators, so that the owners of the premises do not duplicate the profiles of the tenants and do not violate the general concept of the complex.
The concept and formats of working with commercial space depends on the class of residential complex, continues Hakberdiyeva. In the "economy" segment, the main task is maximum commercialization, so the first floors in such projects are rented out spontaneously. In the "business" and higher segments, developers are trying to apply a systematic approach, since in this case the commercial component can affect the attractiveness of the project itself.
“LCD retail is developing and becoming more professional in terms of concept creation and management. We note this trend not only in Moscow, but also in the regions,” says Hakberdiyeva.
How retail develops as part of residential complexes