Cushman appointed exclusive agent for Moscow hotel, Strazhi Urala complex

Cushman & Wakefield Hospitality, part of global property adviser Cushman & Wakefield (C&W), announced on Wednesday that it has been appointed as exclusive real estate adviser by a local developer for a proposed luxury hotel development in central Moscow. The site is located at Bogoyavlensky Pereulok in the heart of Moscow's historic centre, a short distance from Red Square, the Kremlin and GUM department store.

C&W said the project consists of the development of a new hotel totalling 26,720 m² as well as the maintenance and regeneration of the historic urban landscape. 'This is the most exciting luxury hotel project in Moscow since the Four Seasons project near the Red Square was confirmed,' commented Joel Goldman, director of Cushman & Wakefield Hospitality.

'We are commissioned to deliver the most luxurious hotel for the city, and we believe that the location and the site merit it. Preliminary discussions have been held with some of the most luxurious hotel groups in the world to participate in this venture, and we anticipate being able to make further announcements soon,' he said.

On Wednesday, Cushman & Wakefield's Russian office also announced its appointment as the exclusive leasing and marketing agent for the Strazhi Ural business complex located in the heart of Ekaterinburg. Strazhi Urala (Guards of the Urals) is a 300,787 m² mixed-use project on Ekaterinburg's main street - Leninsky Prospekt. When complete the buildings will resemble two giants or guards protecting the city. The two towers will be connected via a bridge.

The complex will consist of a 183-metre North Tower including a panoramic restaurant, a 163-metre South Tower with Class A offices, apartments, sports and fitness facilities, and over 1700 parking places.

The project will be rolled out in two phases with the construction of the North Tower planned for completion by the fourth quarter of 2011. Construction has already begun. The South Tower which will break ground in the first half of 2008 is scheduled for delivery at the end of 2012.