Turgenevskaya Parking Garage

In July 2017 ENR acquired a 50% interest in the Turgenevskaya parking garage at Turgenevskaya square on the Boulevard Ring in the central business district in Moscow, Russia.

The parking garage was opened in January 2021 and has a gross built area of almost 10’000 square meters, with 297 parking lots (18 above ground and the rest in 6 levels underground).

Parking lots are leased to corporate clients and to individuals and on an hourly basis for other users. There are several business centers and retail properties in the surrounding area (including the Lukoil head office), with 3 subway stations within close walking distance.

Over the past few years market trends in Moscow improved meaningfully for parking garages as Moscow city authorities are now charging for parking and introduced strict legislation and enforcement measures to curb illegal parking, meaningfully reducing illegal parking, The city also introduced a street closure program to create pedestrian traffic zones where many surface parking place were removed, leading to increase demand for paid parking facilities.

© ENR Russia Invest SA