Hals Development sold almost 3 hectares on Staroobryadcheskaya Street in Moscow

Hals Development continues to get rid of sites previously owned by Mosmetrostroy, which the developer received from its shareholder, VTB Group. The developer sold almost 3 hectares on Staroobryadcheskaya Street in the south-east of Moscow to the perfume company Zielinski & Rozen, created in Israel. It is possible that the manufacturer will decide to build a logistics center on the site. However, experts believe that such a project can be implemented much cheaper in New Moscow.

Kommersant found information about the sale of Hals Development to Expert Real Estate LLC, which owns 2.7 hectares on Staroobryadcheskaya Street in the southeast of Moscow, in the SPARK database. It states that since October 2, 2023, the sole owner of the legal entity has become Zelinski & Rozen Perfumery LLC, which distributes products of the Israeli cosmetic brand Zielinski & Rozen to Russia. Hals confirmed the fact of the transaction. Co-owner of Zelinsky and Rosen Perfumery LLC Dmitry Nikulin did not respond to Kommersant’s request.

The site sold by Hals was transferred from its shareholder, VTB Group, which, in turn, received it as part of the restructuring of the debts of a large borrower, Mosmetrostroy. In August of this year, the developer sold 4.4 hectares on Saltykovskaya Street to the Monarch concern, previously owned by Mosmetrostroy and inherited from VTB (see Kommersant on August 28). From Mosmetrostroy, Hals Development still has 5.5 hectares left on Biryusinke Street in the Golyanovo district. This site will also be sold in the near future, says a Kommersant source close to the company.

Hals Development wanted to get 500 million rubles for land on Staroobryadcheskaya Street, as noted on the website of the Russian Auction House. Senior Director of CORE.XP Marina Malakhatko believes that the transaction amount could be 400–450 million rubles. She believes the site could be used to build a warehouse complex or office space.

The head of the assessment and consulting department of CMWP, Konstantin Lebedev, knows that on this site the Moscow City Hall in 2014 approved the construction of a multifunctional retail and office center of 60 thousand square meters. m. To implement such a project, about 5 billion rubles will be required, he calculated. Taking into account the city hall’s plans to support production within the city, Zielinski & Rozen, if production is localized in Moscow, will be able to count on special conditions from the city authorities, notes Nikoliers partner Vladimir Sergunin.

ILM partner Andrey Lukashev, on the contrary, believes that buying a site for locating a production or warehouse within the city is an “unwise decision.” From a logistics point of view, it would be more convenient to locate the facility in New Moscow, where, in particular, land for these purposes could be purchased several times cheaper and take advantage of the developed infrastructure and road network, he explains. According to Mr. Lukashev, the implementation of such a project within the old borders of Moscow will also be significantly more expensive for Zielinski & Rozen and will require the involvement of a fee developer.

In general, all consultants agree that it is quite logical for a perfume brand to build its own warehouse facilities, since there are practically no ready-made free logistics and production facilities in Moscow. According to NF Group estimates, the share of vacant properties in the warehouse segment is only 0.3% of the total supply, that is, less than 5 thousand square meters. m out of 1.45 million sq. m. New construction is also seriously limited. As consultants specify, the total volume of announced high-quality warehouse projects in Moscow is about 100 thousand square meters. m.

Daria Andrianova