Mall Varna Shopping Center19.04.2010 Brief
From an early stage, Forton International was involved in the planning and development of Mall Varna, which is currently the largest retail mall development of its type in Bulgaria. Initially Forton was commissioned to advise on the retail project’s feasibility, architectural concept and internal organization of the space as well as the potential tenant mix of the scheme.
Forton completed its advisory and intermediary services to Mall Varna, which culminated in the successful investment sale of the mall.
Solution
An obstacle from the very beginning of the project was clarifying the final design concept and the numerous changes in the architectural plans in order to achieve the optimal decision from design, construction and market points of view.
Forton approached Chapman Taylor in relation to the architectural layout and consequently the Chapman Taylor team was engaged in the project’s design works.
In the process of leasing the retail space, the retail team of Forton succeeded in engaging prominent international brands to enter the Bulgarian market – e.g. New Yorker, Capella Play, Burger King. As an alliance partner of Cushman & Wakefield, Forton International also attracted the attention of Miller Developments, one of the UK’s leading commercial property development companies, well prior to the completion of construction of Mall Varna. Forton’s team participated in all stages of the investment sale as an intermediary between the initial investor Interserviz Uzunovi and the new owner. The transaction was successfully finalized in 2008.
In a new chapter, the new owner inquired into the prospects to take over the entire management of the building. Forton’s property management team joined in from the pre-opening stage and currently implements the full range of property management services pertaining to an operational building.
Conclusion
At present, Mall Varna is one of the largest shopping centers outside Sofia providing 33 000 sqm of retail space in 150 shops, a cinema complex (8 screens), a bowling alley, restaurants and a food court, a games zone and a children entertainment center.
Mall Varna combines the characteristics of both a place for shopping and a preferred place for spending free time, entertainment and meetings. The different stores and entertainment places are functionally distributed in the mall which helps customers achieve their intentions in the easiest and most comfortable way.
Contacts:
Sergey Koinov – skoinov@forton.bg
Мая Балтаджиева – mbaltadjieva@forton.bg
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