The transaction The company “Eldorado”, the Russian retail chain of home appliances and electronics, has signed the long-term agreement about rent of the warehouse areas (26900 sq. m) in the logistics complex of A class Q-Park Kazan. The consultant of the transaction is the company Jones Lang LaSalle.
The warehouse complex is located 1 km from the international airport and 25 km from the center of Kazan. The proximity to the ring road provides the access to main thoroughfares of Russia: Federal highway leading to Moscow, Yekaterinburg, Samara, Perm, Chelyabinsk, Nizhny Novgorod and Ufa.
Among the tenants of the first phase (83 500 sq. M) of Q-Park Kazan: Schneider Electric, McDonalds (HAVI Logistics Rulog), “TsentrObuv”. The owner of the Project is JSC “Logistics”.
According to Anton Alyabiev, deputy director of warehouse and industrial premises of Jones Lang LaSalle, as a result of the transaction the first phase of the Q-Park was filled with nearly 100%.
The company “Eldorado” is considering Q-Park Kazan as a platform for organizing one of its largest distribution centers for goods distribution in areas of the Volga and the Urals.
“Earlier the flow of goods of the trading chain went to the Volga and the Urals through Ufa, where the retailer occupied the areas in the building of old construction. Now “Eldorado” moves the distribution center to the modern complex of A class and optimizes the logistics in this part of the country”, - Anton Alyabiev has noted.
“Our stores are open in all big cities across the country, so the clearness of logistics is one of the basic priorities”, - Sonia Purdeshova, the vice president of “Eldorado” operational support added. - We expect that the use of the center of Q-Park will be one of the key elements of our logistics system and qualitatively improve the work of the chain in the region. "
CRE
Oleg Mamaev, PNK Group: “There is the big excess of the warehouse areas in Kazan”03.11.2011
In general, warehouses of A class are built in the regions 10 times less than in Moscow. The reason is the higher costs with lower demand and low rental rates. The need for them is small: the warehouses of A class are needed if there is the high consumption of relatively expensive items that require storage conditions and the rate of turnover, corresponding to warehouses of A class. Such conditions, except Moscow, more or less are formed in St. Petersburg, Novosibirsk and Yekaterinburg, where the PNK Group implements its projects. Perhaps Rostov will be interesting for developers in the near future.
As for Kazan, despite the good level of retail development exists a very large excess of warehouse spaces. For example, “Eurasia Logistics” built the complex “Biek-Tau” in 2009 and it is almost empty now. And Q-Park, which was built in the 3rd quarter of 2009, has just close to full. In total, about 220,000 sq. m of the warehouses of A class in Kazan and the most part of them is empty, and the rest were put on depression rates, so that investors can’t achieve the expected profitability.
We estimate that the occupancy of warehouses of A class in the Volga region does not exceed 20%. Therefore, from our point of view, the construction of new warehouses in the Volga or Kazan should take place if somebody of the main consumers will need an individual build-to-suite project. The investment attractiveness of speculative warehouse building there seems very doubtful.