Smart Plaza Obolon shopping center is for sale. The most likely buyer is Dragon Capital.
Source：retailers
From：Taiwan Trade Center, Kyiv
Update Time：2019/12/24
The UDP company Vasily Khmelnitsky and Andrey Ivanov sell the regional Smart Plaza Obolon shopping center, several top managers in the real estate market told at once. Object of 15 000 sq. m. included in the residential complex of the same name, which is located in the Obolon district near the metro station "Minsk". There is already a buyer at the shopping center - IK Dragon Capital, sources from Retailers who are familiar with the deal say. It is noteworthy that UDP last year sold the first object - the Smart Plaza Politech shopping center - immediately after its launch. The investor's plans are to build at least two more shopping centers as part of residential complexes - near metro stations "Goloseevo" and "Arsenal".
The three-level shopping center Smart Plaza Obolon is located on street Marshal Timoshenko, 21 next to the shopping center Dream Town (total area - 81,000 square meters). The declared amount of investment in the construction of the facility is $ 14 million. The total area of the Smart Plaza Obolon is 15,000 square meters, and the lease area is 9,000 square meters. "In this facility, more than 60% of tenants are anchor and most of them are restaurants. This concept was chosen not to compete with Dream Town," said Evgenia Loktionova, director of the consulting company UTG (TC broker). According to her, it is expected that after the full launch of the shopping center, the daily flow of visitors will be 20 000-25 000 people. “We choose sites that have natural traffic. This is designed so that neither we nor retailers make additional efforts to attract visitors. District shopping centers will never be able to draw an additional flow of people through advertising,” said the commercial director of A Development (builds several UDP properties) Daria Kukharenko.
Negotiations on the sale of the Obolon shopping center UDP have been going on for several months with IC Dragon Capital, a top manager of a real estate development company and a real estate consultant told Retailers. “Negotiations are at an advanced stage - the investor conducts due diligence. The transaction will take place after Smart Plaza Obolon starts working 100%,” said a source familiar with the negotiations. The technical opening of the shopping center took place at the end of January with the opening of the Silpo supermarket, after which other stores gradually began to open. What proportion of the area is now "working" is not entirely clear.
At the time of the release of the material, Daria Kukharenko did not respond to the Retailers request sent in a message to Facebook. Also did not respond to the request in UDP and IC Dragon Capital. Update // "We do not comment on rumors. Only completed transactions", - responded in the press service of Dragon Capital.
The filling of the Smart Plaza Obolon shopping center will be closely connected with the work of the previous object - the Smart Plaza Polytech shopping center, which was opened a year ago and did not immediately show good results, says Maxim Gavryushin, commercial director of the Budhouse group of companies. Only now this object is beginning to gain momentum. “The location at the Smart Plaza Obolon is good. At this point, there are quite intensive automobile and pedestrian flows, a metro station, and a high building density,” says Maxim Gavryushin. He adds that it will be possible to judge the correctness of the concept after all tenants are opened in the shopping center and the overall picture is visible. “So far, what is already visible now raises some questions, for example, a narrow gallery with a width of less than 6 square meters. There are questions to two-level premises in which, presumably, there will be restaurants,” the expert says.
Evgenia Solomatina, head of the commercial real estate department at Cushman & Wakefield in Ukraine, notes that, like in large shopping centers, the first year of work in regional shopping centers is the time when the tenant pool is built in accordance with the target audience, that is, the tenant rotation takes place. “In the regional shopping centers, the concept must be built for the target audience, which is located in the area. After all, those who live nearby will go to this object (no one will specifically go),” adds Solomatina.
Note that, according to the real estate market participants, immediately after the opening of the Smart Plaza Polytech shopping center, its owner was Lviv businessman Oleg Balyash. "He owned a land plot under the cinema" Dovzhenko ", where the multifunctional complex is now located. At one time Oleg (Balyash, - Ed.) Contributed a land plot in exchange for a share in the shopping center. When the construction was finished, he bought the rest of the UDP," told Retailers source familiar with the negotiation process.
The Polytech Smart Plaza shopping center has a total area of 15,000 square meters, opened in early April 2018. It is located near the metro station "KPI" and the campus of the Kiev Polytechnic Institute. UDP plans to build at least two more shopping centers as part of residential complexes - near the Goloseevskaya and Arsenalnaya metro stations. A Development previously stated that they are now focused on the construction of a multifunctional complex near the metro station. "Goloseevskaya", the opening of which is scheduled for the end of 2020. The total area of the WhiteLines shopping center (formerly Goloseevskaya Smart Plaza Goloseevo) will be 31,000 sq.m. When the construction of the IFC at Arsenalnaya will begin is not known.
Source：https://retailers.ua/news/partneryi/8671-tts-smart-plaza-obolon-posle- zaversheniya-stroitelstva-budet-prodan-naibolee-veroyatnyiy-pokupatel---ik-dragon-capital