Аренда и продажа элитной жилой и коммерческой недвижимости Санкт-Петербург, Россия


21.12.2009 Office Property Market, 4th quarter 2009

According to the Night Sky Realty research, the office property market is characterized by a reduction of activity and stability of rental rate level of qualitative office premises in A and B class business centers. The mass migration of tenants, interested in attractive terms of lease for office premises, is past. Consequently, the level of vacant spaces decreased in so-called “flexible” business centers with lower rental rates. The reduction of rental rates is being observed in those office centers where proprietors and managers used to be unwilling to make a concession with tenants on terms of lease. The business centers, situated in city center with good transport accessibility and well-developed infrastructure, have a high occupancy rate.

Rental Rates

The range of rental rate levels for qualitative office premises of A and B class business centers is as follows below:
  • А class – 900-2000 RUR/sqm
  • В class – 700-1200 RUR/sqm
The discount for major tenants can reach 10-30% of the declared rental rate carrying on the negotiations. “Applying to the consulting companies specializing in the office property market for professional and civilized office rental services, allows our clients to get the most beneficial terms of lease”, noted Nikolay Vasiliev, a head of office property department.

The office space planned to be put into operation, as of the end of 2009

ProjectAddressClassOffice area, sq.m.
Atlantic City128, Savushkina streetА26900
Linkor36/А, Petrogradskaya Emb.А17500
Atrio22/А, Petrogradskaya Emb.А12275
Sodruzhestvo, 3rd stage27, Kolomyazhsky prospectВ+18780
Narvskiye Vorota34, Staro-Petergofsky prospectВ+18440
Avantage17/2, Beloostrovskaya streetВ+8000
Baltiysky Marshal49, Marshala Govorova prospectВ+5350
Gulliver, 2nd stage7, Torfyanaya DorogaВ+26000
Pulkovo Sky12, Startovaya streetВ+17600
Birzhevoy Complex15, 26th Line, Vasilievsky IslandВ+23100
Na reke Smolenke33/A, Smolenki river Emb.В14000
Source: Night Sky Realty

In accordance with the assessments, prepared by specialists of Night Sky Realty office property department, about 190 000 square meters of A and B class business centers are announces to be put into operation by the end of 2009. The shares of vacant office premises in A class business centers is 33%, B class – 20%.

In compliance with Night Sky Realty forecast in 2010 about 150 000 square meters of A and B class business centers will be put into operation. The reduction of growth rate of office building in 2010 is stipulated with stoppage of construction works, caused by economic crisis of the world economy.

The structure of business centers put into operation in 2009 by administrative districts, St.Petersburg, 4th quarter 2009


Taking into consideration unfavorable economic situation in the whole world and excess of supply in the office real estate market, in order to attract tenants to the newly-open business centers the proprietors of vacant business centers will come up against big difficulties, such as increasing the time of exposition and low occupancy rate. The prime location of business centers is a key criterion of tenants choosing an office premise. Dumping rental rates will attract those tenants who accept decentralized location of the business. An individual approach and differentiated rental rates for tenants will be the basic tools to attract tenants to the vacant office spaces.