The warehouse complex in the village of Znamya Oktyabrya in New Moscow can be purchased by Alexander Litvin’s structure “Meridian”
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The increase in the cost of renting warehouses in the capital, caused by a lack of supply, is attracting new investors to this market. A 5.7-hectare plot for a similar project in the village of Znamya Oktyabrya in New Moscow could be purchased by the structure of Alexander Litvin, a top manager of ex-senator Sergei Bazhanov. Investments in warehouses will remain profitable for another three to five years, although new players may find it difficult to operate in the market, consultants say.
Meridian LLC won the bidding for a plot of 5.7 hectares in the village of Znamya Oktyabrya in New Moscow as part of the insolvency of Economy Alliance CJSC, as follows from the bankruptcy register. The lot also included an unfinished construction project with an area of 30.5 thousand square meters. m and a building with an area of 1.1 thousand square meters. m.
According to the Unified State Register of Legal Entities, Meridian was established in June 2023 in St. Petersburg. The founder and general director is Alexander Litvin, who also heads Business Center Globus LLC in St. Petersburg. The owner of this company is ex-senator Sergei Bazhanov, who was the main shareholder of the International Bank of St. Petersburg, whose license was revoked by the Central Bank in 2018. Mr. Bazhanov himself was later accused of fraud in absentia (see “Kommersant” dated July 19, 2021). Meridian did not answer Kommersant’s questions. Sergei Bazhanov and his wife Tatyana Bazhanova also did not respond to Kommersant’s calls and messages.
The development of the territory in the village of Znamya Oktyabrya was probably carried out by the structures of the Eurocement group, which now operates as Tsemros. In 2017, Vedomosti reported that the group had a project for a plot of similar area in this location, allowing the construction of a complex with an area of 56.8 thousand square meters. m. According to bidding materials, the site and the unfinished building are pledged to Ulyanovskcement JSC, which is part of Tsemros. At Tsemros, Kommersant did not respond promptly.
Nikolai Goryunov, director of the capital markets and investment department at IBC Real Estate, believes that building a warehouse on this site is still advisable: “The territory has the potential to receive maximum benefits from the Moscow City Hall under the labor placement program.” Creation of a facility with an area of 30–35 thousand square meters. m, according to his estimates, will cost 1.5–1.7 billion rubles. The rental rate in such a complex can be at the level of 9 thousand rubles. for 1 sq. m per year, the expert calculated. NF Group partner Konstantin Fomichenko speaks of a potentially high return on investment, estimating the cost of selling warehouse space here at 65–70 thousand rubles. for 1 sq. m.
Banner of October already has a large warehouse complex. The area adjacent to the potential Meridian site is occupied by the logistics center of the Letual cosmetics chain. The facility, built 15 years ago, is owned by the company, consultants say. Letual refused to answer Kommersant’s questions about the possible expansion of warehouse space in this location.
According to Mr. Fomichenko, the warehouse market today can attract investors due to low vacancy and a pronounced increase in rates. According to the consensus forecast of Gazprombank, the average rental cost of existing projects in the Moscow region by the end of 2023 will increase by 43.4%, to 8.1 thousand rubles. for 1 sq. m per year. The dynamics are higher than the initial forecast, which is explained by limited supply, the increased need for retail to create inventories, the development of online trading and low competition among developers (see Kommersant on November 11).
Anton Alyabyev, head of the warehouse and industrial real estate department at CORE.XP, says that, unlike other segments, the increase in investment in warehouses is not due to the resale of assets of foreign companies, but to the expansion of the portfolio, primarily by large institutional players. Mr. Fomichenko expects that investments in such objects will remain profitable for another three to five years. Although the regional director of the Nikoliers warehouse and industrial real estate department, Viktor Afanasenko, believes that the segment is not easy for new players: “We need experience in managing construction costs.”
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