Metro Cash

Wal-Mart Stores Inc. (Talks to buy ), the French Carrefour (tried, however, unsuccessfully, to buy "The Seventh Continent"). 50-th anniversary hypermarket opened in Russia, Metro Cash & Carry. Swallowing Ramstore French Auchan, in addition to its hypermarkets deploys a network of supermarkets "attacks." In this situation, Russian networks do? Reduced costs – is the slogan of number 1 in the Russian retail sector today. Most networks almost completely abandoned new construction (or acquisition of facilities in the property), preferring to lease retail space. But these costs are also minimized. Owners, terrified by the abundance of vacant land (in the Moscow shopping center – up to 10%), reluctant to make concessions.

Increasingly, rents calculated as a percentage of sales (usually 3-5%). If agreement still can not – shops are closed. In the current environment attractive for network operators looks have long since become accustomed to the west selling its own premises in the scheme of sale & leaseback. In this case, the shopping area are sold at a significant discount, and the buyer agrees to surrender the former owner of an object for a long time in conditions of relatively low-rent rates. In addition to obtaining additional funds for development, the scheme helps retailers optimize the benefits: the property tax is reduced at times, and lease payments relate to costs, which reduces the taxable base for income tax. The investor also gets ready to profitable business with a fixed cash flow from long-term lease. Last year, the scheme successfully used , selling 18 stores with total area of 20 thousand sq.m.

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