The total market for warehouse space in Russia currently exceeds 11 million square meters. The main share of the supply is concentrated in the Moscow region - about 60%, as well as in St. Petersburg and the Leningrad Region. Other cities in Russia account for 23% of the total stock of warehouse space.
The current situation on the state and prospects of the warehouse market in the regions was commented by Mikhail Agarunov, Head of the Department of Warehouse Real Estate at ILM: «The situation with the rental of warehouse premises in the regions of the Russian Federation is somewhat different from what is happening in the Moscow warehouse market.
The regional market lags behind Moscow in development by several years - both in price and in quality terms. In the capital, already formed market, the requirements for warehouses are quite tough, since the demand is largely formed by Western companies whose representative offices are located in Moscow. In the regions, the construction of class B objects prevails and the quality of the warehouse real estate objects put into operation does not always correspond to the tenants' expectations. At least, this situation was observed until recently.
For example, in the warehouse real estate market of Yekaterinburg there was only one speculative project of class A, the company «Eurasia Logistics». Other modern warehouses were built for their own needs and were not rented out initially. The decision to build «by itself» was dictated mainly by the lack of quality logistics sites in the region. Only in 2012 a real competitor appeared to the Pyshma logistics park (Eurasia Logistics company) - this is the Novokoltsovsky warehouse complex. Nevertheless, we are witnessing an emerging positive trend. Today, having recovered from the effects of the crisis and feeling the stable demand for Class A formed, developers have resumed the search for sites for the placement of speculative warehouses in Yekaterinburg. Thus, PNK Group declares its plans for the construction of a logistics park, and a project is being developed by an investment company at the double of the Siberian Route.
Another important point is the difference in the formation of rental rates. In the Moscow region, the vast majority of high-quality warehouse tenants pay for triplenet rent. The meaning of the scheme reveals its name. «Triple net rental rate». This is the rental rate, cleared of the three main types of additional costs - taxes (VAT, land tax, property tax), operating costs, that is, the cost of maintaining the building, and utility bills. The concept of "triple net" came to us from the west and has been operating in the metropolitan area since the first professional developers entered the market. It is no secret that the main goal of the developer is to create a high-class, liquid product that will be the first to be in demand on the market by institutional investors. Investors, first of all, are interested in transparency and the level of net operating income from the rental of space, which is impossible to predict when using the «all-inclusive» scheme.
In Yekaterinburg, as a rule, the rent payment is carried out under the «all inclusive» scheme. The total amount already includes the net profit of the owner, the costs of servicing the complex, and payments for utilities.
Judging by the plans of large developers, the construction of new logistics centers of the highest level in the regions of Russia is considered as a priority area of their activities. The emergence of a larger number of new warehouse complexes in the regions of the Russian Federation will significantly expand the scope of large Western trade and production networks, not to mention Russian companies».
In general, analysts of consulting companies note that the warehouse real estate market of the regions compared to the market of Moscow and the Moscow region is rather poorly developed. Here, mainly Class B and C warehouse complexes prevail. Nevertheless, due to the growing demand for high-quality warehouse objects from the largest trading and production operators, the development of high-quality logistics in the regions will continue.