There are big changes afoot in the world St. Petersburg retail. The market structure is changing against a backdrop of exploding commodity turnover. The growing strength of large retail chain operators has reduced the number of small businesses engaged in this sector to minimum. Nevertheless, analysts say the future belongs …

Those operators are what any landlord would dream about: they are loyal even to the exorbitant rental rates and aptly work with space fitting their salons even into irregular and uncomfortable premises. As to the operators themselves, they dream of striding the human flows of middle-class shoppers in grocery and …

Today 33 market areas trading in foods and non-foods function in St. Petersburg. One-third of them are located in central districts, drawing the keen interest of the development community. Experts are positive that almost all urban markets will be re-profiled in the next 5-7 years.

Any serious conflict between a management company and tenants might paralyze the work of a shopping center and seriously undermine its reputation. Both sides have an interest in civilized relations, naturally, but in practice there still might be plenty of cause for disagreement. How can a situation be created where …

Theoretically work in the warehousing sphere is organized in two ways: either every tenant receives a share of a unified warehouse or works on his own rented zone. The latter variant is the more common, with the aggregate of storage facility property occupying between 20% and 30% of rented space. …

In the number of DIY stores, the St. Petersburg market is among the most saturated in Russia. More than 30 specialized chains with 150 housewares markets and 30 hypermarkets with home repair articles operate here. Nevertheless, growing personal incomes give hope to retailers that, in the next 3-5 years, demand …

Last month in this column, we looked at the requirements of appraising for financial reporting purposes. We learned that the most important element of appraisal reports is the clear, market-based support that the appraiser provides for the value conclusions that he puts forth. This month we look a bit deeper …

Law
The basis of amounts of insurance for commercial real estate properties is established in Russian legislation as the actual value of the property at its location on the day the insurance agreement is concluded. In addition to this, legislation is clear that insurance amounts in excess of this value are …

This month the ideas and requests of readers raise the issue of appraising office complexes with associated retail space. This comes about because of the high number of these type projects coming into our market, and because of the continuing problem of having few actual sales of such properties from …

In the recent series of articles on appraisal reports – we have examined various appraisal standards and what are the minimum requirements are for any appraisal report. We considered the special minimum content for appraisers to use when providing clients and their auditors asset value estimates for use in financial …