In 2020, 169 tenants exited from Tbilisi high streets, with the total area of 11,385 sq m, - Colliers International reports.
According to the report, 57% of this space (6,532 sq m) was located on Chavchavadze and Aghmashenebeli avenues. Dunkin’ Donuts, Finca Bank, Ovs Kids, Parfois, Flo are among tenants who closed a branch on high streets in Tbilisi. It is noteworthy, that not all of them were closed due to the pandemic.
“The vacancy rate significantly increased on high streets in Tbilisi. The vacancy rate on Aghmashenebeli Avenue increased from 10% to 16%. At the end of 2019, the figure stood at 5% on Rustaveli avenue, increasing up to 13% as of 2020. Pekini street also saw a growth, from 7% to 9%.
Insignificant change has been recorded on Chavchavadze Avenue”, - Colliers International reports.
