Rus News Journal

Party the Group " is ended

; Party recently left retail business, has begun sale of the real estate. As it became known, one of these days it has exposed on sale the largest active - shopping centre Kvadro on the Kutuzovsky prospectus. Experts consider that developer business at Parties it was not took and shortly the company will sell also other objects.
trading - financial group (TFG) Party - the oldest operator in the market of home appliances of Russia, the company is based in 1992. The group developed two retail projects: Party (home appliances and electronics, 17 shops in Moscow and St.-Petersburg) and Dominoes (the goods for the house, 11 shops in Moscow). However in 2002 development roznitsy has been stopped. In 2004 a turn Parties has made $100 - 110 million, Dominoes - $45 million

In the end of 2004 a press - the company service has informed that both retail projects - Dominoes and Party - will be curtailed. The main reason of leaving ritejlera from business participants of the market named that after crisis of 1998 Party on - former it was positioned as shops for rich also has lost to more democratic competitors. In the beginning of 2005 experts predicted that released shops TFG will hand over to the former competitors. in Moscow where very much a severe shortage of floor spaces, delivery of shops in rent for ` ` is much more preferable than Party, than trade - analyst IK " speaks; finam Vladislav Kochetkov. To the company belongs a little large (the area 2 - 3 thousand sq. and is rather interesting located objects: on a Lubyanskaya Square in the centre of Moscow, in the entertaining centre Atrium on the Garden ring and etc. Really, soon on a group site there was an announcement of delivery of shops in rent. Speeches about sale of objects then were not.

this week it became known that operating real estate Parties Open Company Amfin has exposed on sale the largest active of the company - shopping centre Kvadro on the Kutuzovsky prospectus (its area - 11 thousand sq.). According to participants of the market, the offer price makes $55 - 60 million Official representative TFG Party Igor Safronov has confirmed yesterday the information on sale Kvadro . However the reasons of sale he did not name.

but participants of the market consider that Party has decided to leave and from the real estate market. it would be logical. Instead of unsuccessfully searching for tenants on so high rates, owners ` Parties `, having sold the real estate now, would receive the sum, equal five - to the eight-year income of rent of these areas - mister Kochetkov believes. Today`s offer TFG does not find demand in the market. that the Party ` offers `, is not claimed. The price requested by them made $1,2 - 1,3 thousand for square metre. It three times more than trading networks " are capable to pay; - the director for network development " speaks; the World Andrey Jaroshenko. According to mister Safronov, for today it is handed over about 40 % of the areas Parties and the others stand idle. But ritejleram, profile or grocery, any shop is not handed over.

the adviser of company Cushman both Wakefield Stiles and Riabokobylko Evgenie Popov considers decision TFG to leave logical developer business: Judging by ` Kvadro `, management of real estate is given ` to Party ` hardly. The centre costs on Kutuzovsky, in the beginning of Rublevsky highway, but even in such attractive place from it the successful shopping centre has not turned out. Instead of entertainments which on Rublevke does not suffice, all centre is transformed into shop of electronics and furniture which do not involve necessary quantity of buyers . Mister Jaroshenko agrees With it from the World : the Project has appeared not so successful. Now in this area and so the big competition between shopping centres, also are under construction still. Now for ` Parties ` the optimum moment to sell ` Kvadro ` and to return the investments into it. But that the price became adequate, it should be lowered to $35 - 40 million .