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Trading parks take over mall’s places

Submitted on Wednesday, 17 December 2008No Comment

The trading parks gradually take over the malls in the preferences of traders. This was the conclusion of the research of brokers from estate agencies. This type of trading centers, built on larger grounds in the city’s periphery, are characteristic for North America – where people are more mobile and they have no trouble going shooping a long way from home.

Investorin the first trading park in Bulgaria Retail Park Plovdiv is “Landmark”.

According to Tanya Koseva-Boshova, chief executive of the company, retail parks are jsut starting to gain ground in Bulgaria and they have a bright future coming for them. Their main advantages are the possiblitiy to rent huge spaces and the open parking lot, said she. The rental prices in the retail park in Plovdiv are between 10 and 14 euro.

“The contracts with tenants in the retail park of Plovdiv are for 5 to 10 years”, added Tanya Koseva-Boshova. The low rates are possible because the consrtuction is far cheaper than the construction of trading centers of the mall type, which need more levels and an underground parking lot.

“Another big advantage of such estates is the lack of common parts for which the tenants need to share the expenses”, clarified the boss of “Landmark”.

“The lower rental prices for traders in retail parks lead to more accessible prices of the goods sold”, added Boshova. Over the next few years, all big cities will have similar trading parks.

The zones along huge boulevards are best suited for trading parks, because they have convenient communication possibilities and are outside the central parts of cities. The optimal size of such projects in Bulgaria is hard to define, but it’s better to have a larger area to have a wider variety of shops.

“The good news is that famous chain stores have interest in investing in Bulgaria. “Landmark” will finish their projects in Plovdiv and Burgas and will analyse the situation to plan our further steps of investment in Bulgaria”, added she.

According to the chief executive of “Landmark”, the market situation favors investments in terrains for retail parks, because pieces of land are offered at a good price and there is much offering of parcels.

“The main problem remains the bank policies”, said Tanya Koseva-Boshova. They don’t credit many projects that involve estates. The problems are mainly psychological and sooner or later they will be open to the market again.

“I expect active giving of credits in the middle of next year”, predicted she.

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