Regions Development to move to Moscow Hotel Mixed Use Scheme

01 November 2011
Knight Frank has found the first ever tenant for the office premises within the Hotel Moscow Mixed Use Complex, which is located at the most prestigious address ever – directly neighbouring the State Duma, the Kremlin as well as the Bolshoi Theatre.

Regions Development snapped up the best floor of all – the top level with a total area of 1,768 sq m featuring a marvellous view from the 10th floor as well as the best LEDs. This particular level accounts for approximately 1/5 of the total office space.

Moscow Hotel Mixed Use Scheme is as central as you can get – indeed the most prestigious address one can imagine – within a walking distance from the Red Square, 3 underground stations nearby as well as plenty of roads.

The total area of the complex which occupies 1.8 ha is 185,500 sq m. There’s much more than just a business centre there – a retail gallery featuring top brands, apartments overlooking the Bolshoi Theatre, the Red Square and the State Duma, a 5 star premium Four Seasons hotel opening up in 2012.

Hotel Moscow Mixed Use Scheme has a lot to offer to its potential tenants – amongst its additional services there is a press centre, meeting rooms, conference facilities with relevant audio and visual equipment in place – all of which contribute to the top quality of the events that can be held here.

The four underground levels provide parking for 717 cars.

As to the office part of the complex, it is located in the very heart of the scheme benefiting from the splendid views on the State Duma, Tverskaya Street as well as the inner courtyard which can be used by the tenants of the 6th floor. One of the key features of the office premises is the effective layout that allows for any design concept, as to the common areas – these are exclusively finished, along with the 4 entrance halls and 8 OTIS lifts. The building management system is fully automated, and so is its engineering system. The offices are offered in shell&core.

Tatyana Samchenko, Director, LLR, Knight Frank: «Today, the vacancy rate for the class A offices within the Garden Ring amounts to 8.6% as compared to the end of 2007 rate of approximately 7.5%, which was the peak of the market. This is why we consider this transaction at one of the most premium business centres to be of such high significance».

Ilya Kalitin, CEO, Regions Development: «We have decided to select this particular office space in the Moscow Hotel Mixed Use Scheme as it completely meets not only our expectations but also those of our shareholders’. We are convinced that this is the best business space for achieving our strategic goals. We are very certain that such office would be well appreciated by our clients and partners alike not mentioning the employees who would get a prestigious office with its rich infrastructure in the very centre of Moscow».

Hotel Moscow Mixed Use Complex

The scheme opens up after a long period of reconstruction which had converted this Stalinist architectural masterpiece into a state of the art mixed use complex at the most prestigious address in the city. The owner of the 100% of the shares of the scheme as well as its investor is Dekmos company. The first phase of the scheme that would feature retail, offices, apartments and parking is to be commissioned before the year end. As for the second phase, that would contain the hotel and the entertainment facilities this would be put into operation in 2012.

Regions Development

The company is part of the Regions Group of Companies which is one of the most rapidly developing players on the retail real estate market. Regions Development is responsible for the development part of the business. Its main functions are to determine the most prospective regions for shopping and entertainment development, to accumulate the land bank as well as estimating each holding’s potential, to raise finance and to commission the shopping and entertainment centres themselves. Regions Group of companies was founded in 2004. Its portfolio includes 26 functioning retail properties with the total area over 600 000 sqm as well as the plots of land with the total are of over 50 ha. It also owns such big regional retail chains as June and Siberian town.