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Sennaya Square Pik Center
« on: October 12, 2008, 05:21:13 PM »
From the St. Petersburg Times
Sennaya Ploshchad set to see Pik expansion

By Nadezhda Zaitseva and Anatoly Tyomkin
Sennaya Ploshchad has become a popular shopping hub during the past few years, partly due to the Pik retail center.

The firm Sovetnik, controlled by Mikhail Mirilashvili, plans to build a second building of the Pik shopping center on Sennaya Ploshchad. Experts do not expect that the project will be short of tenants or shoppers.

The city’s Committee for Town-planning and Architecture (KGA) passed a regulation on Sept. 16 according to which Sovetnik and the state-owned company Metropoliten will draw up a project to plan and survey the plot of land between Sadovaya Ulitsa, Ulitsa Yefimova, Gorokhovaya Ulitsa and the Fontanka embankment. The City Agency for Property Operations (CAPO), which a year ago received permission from the KGA to develop a planning project on this site, has been excluded from the project. The earlier regulation by which CAPO was to manage the project has been annulled by the KGA, the committee’s press secretary, Irina Bondarenko, said. The company was carrying out the work too slowly, she said, and so it was decided to find another developer.

“For us it makes no difference, we will work with whatever company the city chooses,” said Vladimir Garyugin, the head of Metropoliten. Officials from CAPO declined to comment.

Sovetnik has some of the same shareholders as Petromir, and both structures are controlled by the entrepreneur Mikhail Mirilashvili, according to a source at Sovetnik. Petromir owns the 35,000-square-meter Pik retail center that opened on Sennaya Ploshchad in 2004. By 2011, Petromir plans to build a second part to Pik on the square over a 20,000-30,000-square-meter area, a source close to the company said. According to him, the new center will be built on the current site of the car park in front of Pik and around the Sennaya Ploshchad metro station, which will be located inside the building. In addition, the company plans to build a car park for 1,000 cars in the courtyard of no.45 Gorokhovaya Ulitsa, the source said. Petromir intends to complete the plans for the center within a month, and is still negotiating with Metropoliten, but hopes to sign a contract with the state company before the end of the year, he said.

Sergei Fyodorov, development director at Praktis CB, estimates investment into the project at about $30 million, based on $1,200 per square meter. Building on the sloping approach to the metro station will increase the cost of the project by 1.5-two times, said Ilya Gamov, marketing director at Makromir. He said the new complex would not have any problem finding tenants, although Sennaya Ploshchad already has plenty of retailers.

“During the last few years, Sennaya has become a new, fashionable shopping hub,” said Gamov. “Even people who live in the bedroom districts, where the huge retail centers are located, come to Sennaya to shop.”

The project will only be successful, however, if the company provides sufficient parking, said Fyodorov.

Photo: Sennaya Ploschad very popular for shoppers today
Sennaya Ploshchad has become a popular shopping hub during the past few years, partly due to the Pik retail center. Yekaterina Kuzmina / Vedomosti
« Last Edit: October 12, 2008, 05:26:24 PM by Sennaya » | Forum