10 December 2015

Meeting with tenants in the mall under construction on Kutuzovsky Avenue

Representatives of TPS Real Estate met with retailers on December 10 in the mall under construction on Kutuzovsky Avenue. The organizers showed potential tenants the shopping mall to open in spring of 2016 and dwelled on the advantages of working with the chain developer TPS Real Estate.

Meeting with tenants in the mall under construction on Kutuzovsky Avenue

The mall sitting on the first line of Kutuzovsky Avenue is the company’s flagship project geared towards the family audience. Residing in the catchment area are 1.85 million people; by this parameter it ranks second among the competition in the same catchment basin, next only to Evropeisky mall. The capacity of retail turnover is as high as 1.9bn USD. The mall’s close proximity to Slavyansky Boulevard subway station guarantees the stable daily passenger traffic of 50,000 people both on weekdays and weekends. The daily motor traffic exceeds 100,000 automobiles. Total area of the mall nears 140,000 sq m, whereas GLA is 60,000 sq m. This floor area is sufficient to provide enough retail space for every potential tenant with solvent demand.

“Within our company we define the concept of the shopping mall on Kutuzovsky Avenue as a ‘five-star’ new generation family shopping and leisure center,” noted Alexei Chinaliev, First Vice President for Commercial Management at TPS Real Estate. “The core of the target audience and our reference group are consumers aged 26 to 45. About 65% of these people have families and 45% have children under 18. This audience has higher than average income levels (47%), since the majority of these people are clerks and stewards (42% and 13% respectively).” Therefore in our approach to creating the infrastructure we were guided by the awareness that for this mall’s audience shopping is a family affair and a visit to a shopping and leisure center is not limited to buying some items, but accompanied by an emotionally charged ‘travel’, entertainments and an educational experience for their kids,” he added.

Because now a visit to a shopping mall is viewed by consumers not only as a necessity with the purpose of buying essentials, but also as a leisure and pastime option – creating a sympathetic atmosphere is very important. Therefore one of the promotional challenges is creating such an atmosphere, not just boosting the sales. With this purpose in mind we envisaged certain advantages that are hard to replicate: unique architecture and interior design, unique commercial edges of the concept like a giant aquarium, musical fountain and an installation to be set up in the main entrance lobby.

The developer has already decided on the mall’s anchor tenants: participating in the project are market leaders – national and international operators running large retail chains and boasting the highest turnover per square meter in their respective segments. These are AB Market – a new format of Azbuka Vkusa chain, M.video, Formula Kino, Detskiy Mir, Inditex Group and H&M.