For sale in Krasnoyarsk's "Zvezdnyi" shopping center
In the city of Krasnoyarsk, the star-studded shopping center "Zvezdnyi" on Govorova Street, number 55, is back up for sale once more. Originally a cinema theater, this 4,900 square meter property couldn't find any takers the last time it was on the market.
According to a listing on the "Avito" portal, the shopping center houses numerous tenants. Among them, federal and regional chains that have signed long-term contracts, a swimming pool club, a "Baton" store, as well as various household and commercial offices.
Sporting a hefty price tag of 272 million rubles, the listing also notes that an order for the transfer of the land plot to the ownership of the shopping center has been issued.
Math whizzes out there, that equates to a steep price of 55,000 rubles per square meter. Interestingly, in October 2024, they tried to flog it for a lower price of 50,000 rubles per square meter, but the deal fell through.
Now, let's get into the nitty-gritty (you know, for those keen on understanding the market dynamics and whatnot). Here's a possibility of why the property is back on the market:
Market-Specific Factors:- Location overload: The retail market in Krasnoyarsk might be drowning in too many options, leading sellers to test various price points.- Ruble rollercoaster: Economic factors (inflation, exchange rates) could force price adjustments to maintain real value.
Property Quirks:- Rent rollercoaster: High tenant turnover, vacancies, or fewer footfalls might depress income projections, affecting the asking price.- Pent-up maintenance: Undisclosed repair/renovation costs could contribute to the asking price (if renovated) or lower the original price (if sold as-is).
Ownership Twists:- Debt drama: Lenders may have set a reserve price or forced a quick sale in October 2024.- Financial rebalancing: The owner could be juggling assets with the October attempt being an eager beaver sale that failed to generate interest.
October 2024 Sale Bites:- Original chomp: If priced lower in the past, it might represent either a fire sale strategy or an outdated valuation.- Bite-sized takeaway: The shopping center likely received no feasible offers, leading to a second chance in the market.
Considerations:- Discrepancy: The price of 272 million rubles per square seems a tad too high (even prime Moscow real estate doesn't hit that mark). Check the fine print, as it might include adjacent land or special zoning rights.- Legal scratch: Look out for liens, ownership disputes, or zoning changes that could affect the property's usability.
Next Steps for Verification:1. Listing check: Study listings on CIAN.ru or Avito Nedvizhimost for historical price data.2. Local records: Krasnoyarsk’s Unified State Register of Real Estate (ЕГРН) would reveal ownership/title history.3. Market bites: Consult recent analyses from JLL, Cushman & Wakefield, or local agencies like Blackwood for Krasnoyarsk retail trends.
Without access to confidential transaction data, this breaks down a general scenario of commercial resale. For precise details, better connect with a licensed Russian real estate professional.
- Although the star-studded shopping center "Zvezdnyi" in Krasnoyarsk was listed for sale at a lower price of 50,000 rubles per square meter in October 2024, it failed to attract any feasible offers.
- In the current market, the shopping center "Zvezdnyi" might be struggling due to a potential overload of retail options in Krasnoyarsk, causing sellers to test various price points.
- Apart from regional and federal chains, the shopping center "Zvezdnyi" also houses several tenants, including a swimming pool club, a "Baton" store, and various household and commercial offices.
- Despite the significant price tag of 272 million rubles for the shopping center "Zvezdnyi", it has a large floor area of 4,900 square meters and benefits from a land transfer order issued to the property.
