JetBrains rents meters – Newspaper Kommersant No. 153 (7354) of 08/23/2022
[ad_1]
The IT company JetBrains, which stopped working in Russia, got rid of the Universe business center in St. Petersburg. An object with an area of almost 6.5 thousand square meters. m with an estimated cost of 1 billion rubles. acquired one of the largest operators of warehouse real estate in the region – the corporation “Sterkh”. Interest in buying offices for investment purposes is growing, but due to falling demand from tenants, the payback of such investments may be delayed.
JetBrains sold the Universe business center with an area of 6.4 thousand square meters. m on Vasilyevsky Island in St. Petersburg. As Kommersant found out in the data of the Unified State Register of Legal Entities, at the end of July, the owner of IK Universitetskaya LLC, on whose balance sheet the object is located, became Polis-St. developers in St. Petersburg. JetBrains and Sterkh did not answer Kommersant’s questions.
jetbrains develops software for programmers, headquartered in Prague. Forbes estimates the fortune of the company’s founders, Sergey Dmitriev and Valentin Kipyatkov, at $4.1 billion and $2.9 billion, respectively. After the outbreak of hostilities in Ukraine, JetBrains stopped working in the Russian market, began transporting employees and put up local real estate for sale.
Bright Rich Partner | CORFAC International Viktor Zaglumin estimates the cost of the Universe at about 1 billion rubles.
Probably, the business center was sold at a price higher than the market price, since it is offered to rent at a rate of 2.7 thousand rubles. for 1 sq. m, and this is one of the highest rates in St. Petersburg, adds Ivan Pochinshchikov, managing partner of IPG.Estate.
JetBrains has two buildings on Primorsky Prospekt in St. Petersburg with a total area of 30,000 sq. m. m and an unfinished office next to the area of 35 thousand square meters. m. According to a Kommersant source, the sale of objects is hindered by the inflated expectations of JetBrains, which wants to raise about $200 million for this property (approximately 11.95 billion rubles at the exchange rate of the Central Bank). Head of Investment Projects Knight Frank St. Petersburg Sergey Duvanov says the asking price is 50% higher than the market price. Most likely, JetBrains will have to provide a discount, he points out. The prospect of selling assets is also hampered by the need to invest in completion, Viktor Zaglumin adds.
Sterkh already has office real estate in its portfolio.
Last year, the corporation acquired the Technopolis Pulkovo business center with an area of 43 thousand square meters from the Finnish Technopolis. m. In recent months, many investors have shifted their focus from the banking and financial sectors, investing free funds in real estate, including office space, to diversify risks, Mr. Duvanov points out. According to Knight Frank, in the first half of 2022, the volume of investments in this segment of the St. Petersburg market grew by 68%, to RUB 14.3 billion, year-on-year.
In the near future, the number of transactions with offices in St. Petersburg will grow, as the departure of foreign companies allows local investors to count on the redemption of their properties at a discount, Ivan Pochinshchikov is sure. In addition, he adds, new private investors are entering the market. But due to reduced demand, the payback period for such investments may increase, warns East Real partner Sergey Fedorov. In recent years, the office market has been driven by IT companies that are curtailing their business in Russia, he recalls. For the first half of 2022, about 38,000 sq. m of space, which is 10% lower than last year and comparable to the start of the pandemic, Knight Frank calculated.
[ad_2]
Source link
