Page 84 - bne IntelliNews Russia Country report May 2017

The first months of 2017 were marked by new openings on the central streets , which lowered vacancies in all locations. The largest drop was observed on B. Dmitrovka Street, where the vacancy rate halved in Q1, followed by Pyatnitskaya (down by 4.3 ppt) and Petrovka streets (-2.9 ppt). As a result, these streets became the most occupied in Q1, with only 4.3% of premises vacant on B. Dmitrovka, 4.5% on Myasnitskaya and 5.0% on Pyatnitskaya streets. Tverskaya Street remained the fourth most occupied at 6.4%, which was 1.3 ppt less than in Q4 2016.
On the demand side, Restaurants & Cafés remained the leaders on the central corridors , with a 38% share of all leasing requests. Representatives of the Health & Beauty segment climbed to the second place, with 16% of all requests in Q1 2017 vs 11% in Q4 2016. The tenants in this category also expanded their presence on high streets by 2 ppt to 12% in Q1 2017. The improvements indicate that market participants have adjusted to new economic conditions.
84 RUSSIA Country Report May 2017 www.intellinews.com