Darrell Stanaford on the Influence of Paid Parking on Street Retail


Deputy General Director of RD Management Darrell Stanaford spoke to CRE Retail about the impact of the introduction of paid parking on street retail premises.

According to Mr. Stanaford the introduction of paid parking is exclusively a positive factor for street retail. “When parking is free of charge, everyone parks their car wherever they can for the entire day, leaving no space for those who just want to stop next to shop to make a purchase,” the expert says. “When you have to pay for parking, then you can always be assured that you can find a place for your car, so you can confidently go to the city center to do some shopping or have dinner.”

At the same time, the professional community is noting that, with the expansion of the paid parking zone in the center of Moscow, growth has been observed in the vacancy levels of street retail premises. Some believe that this could lead to a reassessment of the tenant pool along the main retail corridors.

The paid parking regime in Moscow is currently in force inside the Garden Ring. The cost of parking inside the Boulevard Ring is 80 rubles per hour, while the cost for parking between the Boulevard Ring and Garden Ring is 60 rubles per hour. Starting in June the paid parking zone will be expanded to an area outside the Garden Ring – the Moscow City business district. At the same time, Moscow authorities have moved to somewhat relax the paid parking regime: since May 1 parking is free of charge in the center on Sundays and holidays.