Colliers appointed exclusive advisor on the possible disposal of the Nevsky Center in St. Petersburg – EuropaProperty

Colliers International has been instructed by the Stockmann Group as exclusive advisor to investigate a possible disposal of the freehold interest in Nevesky Center located in the heart of St. Petersburg.

Nevsky Center with the total area of 91,000 sqm and a total gross leasable of 45,000 sqm represents a modern high-quality building comprised of a prime shopping center anchored by a Stockmann department store, prime office premises and spacious underground parking.

Nevsky Center represents a trophy real estate asset on the Russian property market and serves as a flagship department store of Stockmann offering a wide, high-quality range of fashion, cosmetics, food and home products. Overall, there are nearly 100 tenants in the Property, including well-known international retailers such as H&M, Hamleys, Tommy Hilfiger, Longchamp, and others.

Nevsky Center enjoys the best possible location in Saint Petersburg on Vosstaniya Square and Nevsky Prospekt, which serves as the main retail street of the city. Immediate vicinity of Vosstaniya Square metro station provides excellent access to the Property on the public transportation. Nevsky Center is also situated only short walking distance away from the Moskovsky railway station, which serves as the main transportation hub of the city. Overall, the entire primary catchment area of the center covers about 80 percent of population of Saint Petersburg, which corresponds to over 4,000,000 people.

Lauri Veijalainen, CEO Stockmann plc: The Board of Directors has decided to investigate the possible sale of Nevsky Centre. Nevsky Centre is located in an excellent location, is almost fully leased and has a good potential going forward.

Stanislav Bibik, Partner, Board Member, Head of Capital Markets, Colliers International Russia: Nevsky Center represents a trophy asset and an exceptional quality investment product. Excellent location in the heart of Saint Petersburg, modern high quality institutional asset and Stockmann department store as an anchor tenant, as well as secured and diversified cash flow – all these features confirm that Nevsky Center is one of the most appealing real estate assets on the Russian market.