Case study: shopping centres
PROSPECTA experts designed a successful concept and carried out brokerage for a shopping centre during a period of economic crisis
Task
The customer asked us to design a concept for a 45,000 sq m shopping centre just outside Moscow and to lease space at the centre. The project was coming to market during a period of economic crisis, which complicated the task, since chain stores were wary of new projects and pressed for most favourable contract terms, taking advantage of excess supply on the market.
Process
When the client approached us, part of the planning work had already been carried out, but layout plans were sub-optimal: there were no important anchor functions, leisure or catering facilities, and vertical communications had not been thought out. After analyzing all of the materials and site restrictions, we prepared recommendations for optimization. We also designed a new draft of layouts at the centre, on the basis of which a rental plan was prepared.

Key recommendations included:

- expanding the complex by the addition of an underground level with a supermarket;
- a well-placed cinema and food court;
- optimization of the tenant mix (selection of tenant types and their relative location).

After completing the first conceptual stage, the team began work on brokerage (leasing of all rental premises at the future complex).

Result for the client
Results obtained in leasing of space at the shopping centre confirmed that the concept had been well prepared. Agreements were reached with both key anchor tenants and gallery tenants. Achievement of the rental plan was 20% better than the client had initially expected.