16 November, 2011
Electroputere Parc is currently 92% let and anchored by some of the dominant fashion retailers in the market including H&M, Inditex Group - with their Zara, Bershka, Pull&Bear and Stradivarius brands, C&A and New Yorker. Over the past 6 months, the DTZ Echinox leasing team has secured contracts with the leading retailers present in the Romanian market, providing Electroputere Parc with a strong and varied retail mix.
Built within the structure of a former industrial facility, Electroputere is the first modern shopping centre to open in Craiova and has the potential to become the dominant centre of the city and its surroundings. Inditex has leased a surface of over 3,500 sq m and the Swedish retailer H&M has contracted a 1,600 sq m area in the new centre, adding to an already strong line-up of international fashion brands. Other prestigious names that have recently joined the project are LC Waikiki (with a 950 sq m surface), Douglas, Office Shoes, Killtec, Sensiblu, Gatta, Pet Center, the Segafredo coffee shop and Elvila, a Romanian furniture store that will open a 3,000 sq m unit. These add to numerous other prestigious retailers that have signed leases at the beginning of the year: Decathlon, C&A, New Yorker, Domo, Altex, Takko, Orsay, Deichmann, Leonardo, Diverta, Toyplex, Bata, Otter, Yves Rocher, Banca Transilvania, Zvon Cafe etc.
Initially designed with a total lettable area of 55,000 sq m (GLA), 1,900 parking spaces and over 120 stores, the project has been extended to over 71,000 sq m, to match the requirements of numerous retailers willing to join the centre.
"The recent lettings further strengthen Electroputere Parc as the most prominent destination for shopping and leisure in the Dolj county and the only modern shopping centre in Craiova.” said Steven Van Den Bossche, Partner, K&S Developments.
Electroputere Parc, developed by K&S Developments, is well on schedule for the planned opening in November this year.
“The shopping centre now boosts an overall occupancy rate of 92% of the current lettable surface and has advanced negotiations for the remaining units.” said Razvan Sin, Head of Retail Department, DTZ Echinox.
Electroputere Parc offers a well-diversified tenant line up to attract all customer segments in Craiova and its surroundings with Auchan as hypermarket anchor combined with a mix of International and Romanian retailers covering Fashion, Sports, Electronics, Shoes, Cosmetics, Children, Food etc. The project also comprises a vast entertainment area of over 2,000 sq m with bowling, billiard, and playground for children. The developers are also in discussion to open a multiplex cinema next year. Electroputere Parc enjoys a great response from the local brands in the Craiova region – Poema, Musse, Charisma, Falle, Adelant Estetique, Senior Patata, Sweet Escape, Olteanu Vesel – and has benefitted of great support from the local authorities. Once open, the centre will act as a community nucleus and will play a significant role in the social life of the city. DTZ Echinox is the Exclusive Leasing Agent of Electroputere Parc.
According to DTZ Research, modern retail stock per thousand inhabitants in Romania stood at 64 sq m at the end of 2010, almost four times below the European average of 238 sq m, but notably higher than the ratio in Dolj County, which is approximately 20 sq m per thousand inhabitants. The Craiova market currently registers very few modern retail spaces available, despite a good economic outlook and a significant consumption growth potential, due to the proximity of the Ford plant and all adjacent developments.