According to the consulting company NF Group, by the end of the first half of 2024, the share of vacant infrastructure retail space in the Moscow City business center fell to a record 5.8%, which is the lowest value in the last five years.
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At the same time, analysts note that by the end of the year, the share of vacant space is expected to stabilize at less than 6% due to the lack of new supply.
The largest volume of vacant retail space in the infrastructure retail format is currently concentrated in the buildings "Bagration Bridge and "Tower 2000", "Northern Tower" and Neva Towers, zero vacancy is noted in the towers "Evolution", "OKO phases I and II", "Mercury", "City of Capitals", "Empire". Among the main tenants are cafes and restaurants, fitness centers and service sector operators focused on servicing daytime traffic in the area.
Thus, the main share of infrastructure retail space is occupied by catering establishments (30%, -11 p.p. over the year), sports clubs (23%, +9 p.p. over the year), service sector operators (12%, -3 p.p. over the year) focused on servicing daytime traffic in the Moscow-City International Business Center, as well as grocery stores (7%, no change over the year) and entertainment sector operators (5%, -1 p.p. over the year).
Among the openings of 2024, we can highlight the new Pan-Asian restaurant Dragon, as well as the medical center Mother and Child, which are located in the City of Capitals. Among the new tenants of the Federation Tower are the grocery store Trotsky Farm and the Black Ivory confectionery, the Yos cafe, etc. It is also worth noting that the share of vacant premises in the building has decreased by 13 percentage points over the year and is 3.5%.
"The observed decrease in the share of vacant space in the infrastructure retail of the Moscow-City International Business Center to a record 5.8% indicates the demand for the location from tenants of various profiles. New projects planned for commissioning will provide tenants with additional opportunities for project implementation. This will also contribute to further strengthening the position of the Moscow-City International Business Center as a leading business center with developed infrastructure," said Irina Kozina, Director of Street Retail at NF Group .
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