Plus Development acquired a plot for the construction of a business center in the north of Moscow

Plus Development, founded by Altai businessmen, became one of the participants in a large development project being implemented on the territory of the Northern River Port in Moscow. In this area, the company bought a plot of land from Capital Group and Kortros for the construction of a business center with an area of ​​almost 50 thousand square meters. m with an estimated value of 8 billion rubles. Experts warn that this location may be less in demand among tenants and buyers due to its distance from the center and metro station.

Plus Development told Kommersant that the company entered into a project for the integrated development of the territory of the Northern River Port in Moscow, where it acquired 0.42 hectares. It is planned to build a business center with a total area of ​​48.2 thousand square meters on the site. m, investments in the project will amount to about 8 billion rubles, the company added. They did not name the seller of the site. Director of the ILM office real estate department, Ksenia Kharkevich, estimates the transaction amount at 3.8–4.8 billion rubles.

Several developers are involved in the development of the Northern River Port. Initially, Pavel Tyo’s Capital Group and Viktor Vekselberg’s Kortros designed about 837 thousand square meters there. m of real estate. In 2022, St. Petersburg Legenda bought 6.7 hectares from them for the construction of 286 thousand square meters. m of housing and commercial facilities. In 2023, part of the territory on which 470 thousand square meters can be built. m, received “Mangazeya” by Sergei Yanchukov.

One of Kommersant’s sources says that Capital Group, as part of this project, sold a small plot for the construction of a business center. Another Kommersant interlocutor notes that Plus Development bought the site, which was jointly owned by Capital Group and Kortros. This is a common model when, after agreeing on the key parameters of the development, the master developer attracts small or new players to implement projects, explains partner Ricci | M&A Petr Vinogradov. Capital Group declined to comment; Kortros did not respond to Kommersant’s request. Legenda and Mangazeya told Kommersant that they did not sell their plots in the Northern River Port.

Plus Development LLC was created in June 2023. Its founders, according to SPARK, are Evgeny Metsker (75%) and Svetlana Vavilkina (25%). Vedomosti calls Mr. Metsker the nephew of the former deputy chairman of the government of the Altai Republic Svetlana Gashkina, and Ms. Vavilkina is a relative of the ex-deputy of the Altai Republic from United Russia and the owner of the Gorno-Stroy company Valery Vavilkin. Vedomosti calls Plus Development managing partner Leonid Vavilkin the son of Valery Vavilkin.

Over the past year, Plus Development has been actively expanding its portfolio of projects in Moscow. In September 2023, the developer bought 6.5 hectares on Dubninskaya Street from Capital Group. There you can build 447 thousand square meters. m of real estate. The company is also building the Details residential complex in New Moscow and is designing a residential complex and two business centers within the old borders of Moscow.

Leonid Vavilkin told Kommersant that Plus Development’s new asset at the Northern River Port is already a “packaged site with a developed concept” and an approved territory planning project, which makes the implementation of the project more predictable in terms of time. In addition, developers who create business centers outside the Third Transport Ring will be able to reduce the fee for changing the type of permitted use of land for housing construction, which in large projects can amount to billions of rubles, recalls Dmitry, head of land assets and development at IBC Real Estate Shelkovsky.

Remain managing partner Dmitry Klapsha believes that the implementation of the commercial and office parts within the Northern River Port will take place in stages and developers will be able to regulate the dates of sales and construction periods, thus not creating competition within the same territory. For an office project, it is important that it is not too far from the metro, but the port is located on the other side of the Leningradskoye Shosse from the station, notes Ksenia Kharkevich.

The Leningrad business corridor is popular among tenants mainly up to the Sokol metro station, then demand decreases, adds Dmitry Klapsha. Accordingly, the demand for objects located along the Leningradskoe Highway will be lower, he warns. At the same time, the office real estate market has recovered from the crisis. In 2023, according to IBC Real Estate estimates, the total area of ​​purchased and leased offices in Moscow increased by 81% year-on-year, to 2 million sq. m. m.

Daria Andrianova