Capital Group developer Pavel Te expects two major deals at once in the Oko towers in Moscow City. Modulbank Artem Avetisyan can acquire up to 9 thousand square meters. m in the second phase of the complex, and then come together with the Bank "East". The Novartis pharmaceutical company is preparing to move to the first Oko tower; it is negotiating a lease of 7 thousand square meters. m. Amid a decrease in vacancy at Moscow City, the Eye is one of the few options for those wishing to move to a business center.
Modulbank Artem Avetisyan may purchase office space in the second phase of the Eye Tower in Moscow City, four sources on the real estate market told Kommersant. According to them, the bank is in talks with Capital Group to purchase from 6 thousand to 9 thousand square meters. m. Two of them say that the company represents the interests of Vostochny Bank, in which Mr. Avetisyan also acts as a shareholder.
Now Modulbank occupies 2 thousand square meters. m in the business center "Savelovsky City", and "Vostochny" owns an office on Suvorovskaya Square near the metro station "Dostoevskaya" in the center of Moscow. The interlocutors of Kommersant suggest that banks can come together at Oko. Accent Capital analyst Evgeny Borovkov estimates the value of 9 thousand square meters. m, together with parking lots for 2.3–2.6 billion rubles. without VAT. The second phase of the Eye tower consists of two blocks with an area of 6.4 thousand and 20.4 thousand square meters. m. From the presentation of the object (Kommersant has it), it follows that the 12-14th floors are occupied by Rosbank, and the 11th floor with an area of 7 thousand square meters. m is "under LOI", that is, a letter of intent. The Capital Group does not comment on the transaction, at Modulbank did not respond to the request, at Vostochny they deny their interest in the project.
Colliers International managing partner Nikolai Kazansky considers the second Eye Tower unsuccessful for Moscow City. According to him, this part of the business center is more likely to belong to the B + class, since there are only 19 floors, including five underground, which significantly affects the specific characteristics of the premises. In addition, the second Eye tower is located above the largest parking lot in Moscow City, adds Mr. Kazansky. In the near future, not only Modulbank can enter Oko. According to sources, about 7 thousand square meters. m in the first tower is going to rent a Swiss pharmaceutical company Novartis. Now she rents offices in the Alkon business center on Leningradsky Prospekt. Novartis confirmed that they are in negotiations, but prior to signing the contract they consider it premature to comment on the deal.
The director of the office real estate department at Knight Frank, Konstantin Losyukov, estimates the requested rental rates at Alkon at 25–30.5 thousand rubles. for 1 square. m per year excluding VAT and operating expenses (7.9 thousand rubles per 1 sq. m per year). At Oko, rates reach 35 thousand rubles. for 1 square. m per year, and operating expenses - 7 thousand rubles. for 1 square. m per year, he calculated. Mr. Kazansky suggests that Novartis could agree on a discount on rent, since in the first phase of the Oko tower 35-50% of the space is free. Konstantin Losyukov connects the possible move of Novartis with an attempt to reduce the cost of maintaining office space, some of which was freed up after the sale of one of the company’s divisions. Apparently, it was not possible to get some kind of discount on the rental rate at Alkon, he notes.
Knight Frank notes that, despite the large amount of space that Novartis plans to occupy, this will not have a significant effect on the balance of the office market in Moscow City. The largest transaction there in 2019 was Rosbank's lease of more than 15 thousand square meters. m also in the second phase of the tower "Eye". According to Nikolai Kazansky, given the low percentage of available space in Moscow City, Oko is one of the few options for companies wishing to relocate to the area. According to JLL, the total vacancy rate in Moscow City is now at 9.8%, and by the end of 2019, the figure may drop to 7% due to current transactions.