“Southern gates” of trade – Newspaper Kommersant No. 58 (7503) dated 04/05/2023

Despite the ongoing crisis in the commercial real estate market, developers of logoparks are starting to resume construction. Thus, Ventall-Development will build up the last site of the South Gate warehouse complex recently acquired from the Czech PPF Group in Domodedovo near Moscow. Experts believe that the low level of vacant space and the recovered demand will stimulate other specialized developers to return to construction.

“Ventall-Development” will build a speculative warehouse (not for a specific customer from among the buyer or tenant) for 30 thousand square meters. m in the South Gate logopark in Domodedovo near Moscow, Zakhar Valkov, deputy general director of the company, told Kommersant. According to him, investments in the project will amount to about 1.3 billion rubles, the commissioning of the building is planned for the end of 2023.

Southern Gates is one of the largest logo parks in Russia, its total area after the commissioning of all lines should be 640 thousand square meters. m, of which 180 thousand square meters. m belong, in particular, Auchan, Leroy Merlin, 36.6 networks, Alibaba Group Cainiao. In December 2022, the Czech PPF Real Estate Russia and the Russian Logistics Real Estate Fund decided to leave Russia by selling this logo park to the metalwork manufacturer Ventall. The cost of the transaction was estimated by experts at 18-23 billion rubles.

According to Zakhar Valkov, the company decided to start speculative construction, given the low level of vacant space on the market. According to NF Group, no more than 1.2% of warehouse space is currently free in Moscow and the Moscow region. “There are already several contenders for the future warehouse, in the next one and a half to two months we will be able to sign a lease agreement,” says Mr. Valkov. Igor Krotenkov, director of work with warehouse and industrial premises at IBC Real Estate, believes that Ventall-Development will be able to lease this building for 6 thousand rubles. for 1 sq. m per year. Thus, the resident of the warehouse will pay annually 180 million rubles.

In the second half of 2022, the activity of speculative development decreased, recalls Viktor Afanasenko, regional director of the warehouse real estate department at Nikoliers. According to him, the appearance on the market of a high-quality warehouse offer for sublease or departed tenants have adjusted plans for commissioning volumes in 2023. This year, 1.6-1.7 million square meters will be built. m of logoparks, of which 60% of projects are speculative, while the construction of a significant part of these facilities began before 2022, says Konstantin Fomichenko, regional director of the industrial and warehouse real estate department of NF Group.

While warehouse developers decide to stop the risks, reducing the already low volume of speculative construction, Anton Alyabyev, head of the warehouse and industrial real estate department at CORE.XP, notes. The fears of the players are that the market continues to change, and the risks associated with construction grow, adds the director of Ricci | Warehouses” Dmitry Gerastovsky.

However, the reduction in vacancies already observed in the market, in turn, will encourage developers to resume active construction, Viktor Afanasenko believes. According to Konstantin Fomichenko, the market is already experiencing a shortage of large free buildings from 20 thousand square meters. m. According to Ricci, the share of free space in such objects is minimal – only 0.1%.

Daria Andrianova