In order to be able to manage the premises, developers are increasingly selling only part of the project, and keeping the rest. “We recommend keeping part of the premises, otherwise the balance of operators will be established only a few years after the residential complex is settled. It happens that the developer has created the conditions, for example, for opening a Pilates studio and a veterinary clinic, but he cannot oblige the investor to rent the premises to these operators, and not open a grocery store there,” Denis Kolokolnikov warns.
The choice between street retail and a shopping center is made at the design stage when creating a general development plan and a territory planning project, explains Tatyana Kozlova, Deputy General Director of Astrum Real Estate Management Company (Granel Group). It is usually calculated how much commercial infrastructure will be in a location. The area of residential complexes, competition, consumer behavior trends and retail formats are taken into account.
How is retail regulated?
In Moscow, the volume of commercial premises is regulated by High-Rise Urban Development Complexes (HMC), where about 10% is allocated for commercial space, says Andrey Shuvalov, Senior Director, Head of Concepts and Planning Solutions at the Commonwealth Partnership. That is, if the complex is being built on a plot of land of 20 hectares, then about 50 thousand square meters are allocated for commercial space.
Usually, for our residential complexes, we calculate the trade infrastructure component as follows: we predict the number of residents of a quarter or microdistrict, we divide their expenses (taking into account the income adjustment based on the level of residential complex) into main groups and subgroups: expenses for all types of goods (including food and other consumer goods, clothing and footwear, household appliances, etc.), public catering, personal services, education and medicine, sports, entertainment, etc.
Then we evaluate the competition with existing commercial real estate and share the resulting cost structure - "at home", "in the shopping center", "near the place of work", etc. At the same time, be sure to pay attention to the change in the structure of demand - in particular, going online, both when buying durable goods, and when ordering food delivery.
Based on the data obtained, we can already predict the real needs of our residents in neighborhood retail and the potential turnover of tenants. When designing, we always take into account that a well-planned volume of street retail in a compactly built-up microdistrict can both create an analogue of a shopping center, covering most of the daily shopping needs of residents, and create the maximum synergistic effect with existing projects. At the same time, the tenant-mix of the residential complex, shopping and entertainment center that falls within the coverage area is also subject to adjustment: it is saturated with services, gyms and fitness, formats for children's education, places of leisure, catering formats are changing.
With an adapted set of tenants, the shopping and entertainment center becomes the infrastructure base of a residential microdistrict, guaranteeing comfort and convenience of living in advance. And the mall, in turn, receives an additional flow of visitors with a different structure and frequency of visits and converts this flow into additional income.
expert opinion
Marina Medvedeva
Managing Partner of the Hamina Group of Companies (City-Park "Grad", "Moskovsky Prospekt", "Five Capitals", "Grand Prix")