Sberbank's daughter Sberbank Investments LLC is a co-owner of the Okhotny Ryad underground shopping complex on Manezhnaya Square not far from the Kremlin. Since the beginning of 2018, it directly owns 9.9% LLC "Manezhnaya Square", which owns the complex, follows from the data of the Unified State Register of Legal Entities. Before, the Okhotny Ryad completely belonged to well-known businessman-rentier Alexander Zanadvorov.
The press service of Sberbank and Zanadvorov declined to comment, but the information about the deal was confirmed by a source of RBC, close to the businessman. He argues that the deal was "market", despite the fact that one of the most visited shopping centers of the capital for many years is pledged to Sberbank.
Activity with asset
According to CBRE, the value of this shopping complex can be 55-75 billion rubles. Colliers International has a more conservative estimate of 24-30 billion rubles. Thus, the share that went down the structure of the Savings Bank could cost from 2.4 billion to 7.4 billion rubles.
"Sberbank is considering buying commercial real estate. Maybe they decided to stop at this shopping center, because it is still one of the best objects - both in terms of location and long-term stability, "says Managing Partner of Colliers International Nikolay Kazansky. He suggests that in the future the bank can increase its presence in the project. "I do not rule out that this is the first step for a larger deal. Now they bought a small stake to study, see, and if you like, then buy it out, "- says Kazansky.
Another participant in the commercial real estate market suggests that the acquisition of a share by Sberbank may be due to the credit history of Zanadvorov. In 2011, he laid the Okhotny Ryad to Sberbank as collateral for the loan that the businessman needed to purchase the Mosmart network. The loan was then granted for seven years.
According to SPARK, the share of Alexander Zanadvorov in Manege Square (90.1%) is now pledged to Sberbank and its structures - under contracts concluded in January and July 2018. The building of the shopping center Okhotny Ryad, according to Rosreestr, has also been pledged to Sberbank since July 2018 (the contract is valid until 2023).
As RBC told a source close to Zanadvorov, a loan of seven years ago was extended for another seven years.
Underground gold mine
Alexander Zanadvorov is one of the largest rentiers in Russia. According to Forbes magazine's rating "Kings of Russian Real Estate-2018", in 2017 a businessman could earn $ 80 million on leasing his commercial real estate.
Last year, Zanadvorov's rental business became much larger: the businessman refused to develop the retail chains Seventh Continent and Nash owned by him. Almost all the retail areas that occupied these networks (120 supermarkets and 14 hypermarkets) are owned by Zanadvorov, and he transferred them to other commercial companies - Lente, X5 Retail Group, Azbuka Vkusa, etc. As a result, only these assets, without taking into account the income from the delivery of areas in the Okhotny Ryad and other facilities, can bring the businessman up to 11.3 billion rubles. a year (or approximately $ 193.6 million with a weighted average dollar rate of 58.35 rubles in 2017), experts said.
In total, as told by a source of RBC, close to Zanadvorov, in Russia he owns about 1 million square meters. m of retail and office real estate.
The Okhotny Ryad complex was built under the Manege Square in 1997 with the participation of the Moscow City Administration, ex-Senator Umar Dzhabrailov, who at that time owned the Plaza Company, participated in the management of the shopping center. The shopping complex has long been issued for several Cypriot companies, in 2013 they were directly owned by Alexander Zanadvorov.
The total area of Okhotny Ryad is 62.7 thousand square meters. m, rental - 29.4 thousand square meters. m. The owner does not attract third-party brokerage companies to search for tenants, and rental rates in the complex are not disclosed. Brokers in two consulting companies say that the rates are at least $ 1 thousand per 1 sq. Km. (about 60-70 thousand rubles.), another consultant called RBC a rate of 180-240 thousand rubles. for 1 square. m per year.
According to SPARK, the revenue of OOO "Manezhnaya Ploshchad" in 2017 was 3.5 billion rubles. (120 thousand rubles for "rentable meter"), net profit - 818 million rubles.
According to Knight Frank, "Okhotny Ryad" is one of the five most visited shopping centers in Moscow, located inside the Moscow Ring Road, on average the traffic of buyers of the shopping center can be 80-100 thousand visitors a day.
"The main advantage and disadvantage of the facility lies in its location in the heart of Moscow, which attracts the tourist flow. Due to the high volume of un-targeted traffic, its conversion to buyers is lower than in the standard shopping center ", - says the head of the department of shopping centers of the department of retail real estate Knight Frank Evgeniya Hakberdieva. According to her, "the quality of traffic" is not uniform - it's foreign tourists, and young people, and visitors from regions, and residents of Moscow. "Tenants find it difficult to identify the main core of the audience of visitors and build a clear positioning," says Hakberdieva, noting that, despite all this, the facility is in demand.