St. Petersburg, September 9, 2013. The developer of the new Shopping and Entertainment Centre is Baltiyskiy LTD Company. The project is to be completed in 2015 and will be located at the intersection of Leninskiy prospekt and Geroev prospekt in the center of a new housing estate, which covers an area extending from Doblesti street to the Gulf of Finland.

The gross building area of the SEC amounts to 35,000 sq. m., and the gross leasable area is 24,000 sq. m. It is estimated that around 15,000 people per day will visit the SEC. The project is going to be one of the first classic community shopping centres in St. Petersburg. According to the business concept developed by Colliers International, the complex will include a grocery hypermarket (4,000 sq. m.), seven screen multiplex cinema, a children's clothing department store, a home appliances and electronics supermarket, DIY store, fitness club, as well as other operators focused on convenience goods or services. Parking for 400 vehicles is also provided.

According to Colliers International, the Krasnoselskiy district has one of the lowest retail shopping centre provisions in St. Petersburg, with 216 sq. m. per 1,000 residents. This indicator is more than two times lower than the average throughout the city and four times lower compared to the Primorskiy district, which has provision of 883 sq. m. per 1,000 residents.

Anna Nikandrova, Director of Retail Department at Colliers International in St. Petersburg:

“Community shopping centres are currently in great demand in the St. Petersburg real estate market. The most actively expanding operators, including grocery, public catering, convenience goods and services retailers, are the target tenant audience of the project. The relevant concept and targeting of dynamically expanding tenants will spell success for the project”.      

Vladislav Nikolaev, Head of the Research & Concept Development Group, Retail Department at Colliers International in Russia:

“Being one of the first classic community shopping centres in St. Petersburg, the project will occupy a low-competitive market niche. Moreover, considering the current, poorly developed retail infrastructure and isolation of the Krasnoselskiy district, the project is going to have every prospect of commercial success”.