GTC to open the first third-generation shopping mall in Zagreb. Avenue Mall brings Zara to Croatia
Avenue Mall – the first third-generation shopping center in Zagreb, developed by GTC Croatia – has been 100% leased. The retail project, scheduled for opening this August, will produce EUR 10m of net annual rental income.
The mall features 130 shops, 36,500 sq m of gross retail space (26,500 sq m NRA), and some of the biggest names in the fashion world. One of the world’s largest fashion retailers, Inditex Group, will open its first Zara and Bershka stores in Croatia. Other international brands include Marks & Spencer, Esprit, Benetton, Calvin Klein, Tommy Hilfiger, Lacoste, Mango, Pirelli, Top Shop, Nike, Adidas, Puma, Deichmann, Bata, Jack & Jones, and Sephora.
Avenue Mall will set a new standard for Zagreb’s entertainment destinations with a nine- screen Blitz Cinestar multiplex cinema with 1,800 seats. There will also be more than 500 seats in the food court and restaurants, cafés and bars featuring names like Daily New Café, Escobar and Khala.
Konzum supermarket has signed 20-year lease for 3,500 sq m and will open its flagship store there.
Vast majority of the leases in Avenue Mall have been concluded for 10 years.
Avenue Mall is the first mall in New Zagreb. Its catchment area within 30 minutes’ drive includes Zagreb’s entire population of 800,000 people. It has been designed to the highest world-class standards and features superb, stylish architecture.
Colliers International has been appointed as the exclusive leasing agent responsible for renting the retail space in Avenue Mall.
S. Mor, Country Manager of GTC Croatia, said: “Avenue Mall will be the first real shopping destination in Zagreb to meet international standards. We are very proud to have developed such a world-class facility and believe that it will transform shopping here.”
GTC Croatia holds a 70% interest in Avenue Mall. GTC Croatia is a 97.2% subsidiary of Globe Trade Centre S.A. GTC Croatia began its activity in Croatia in 2004.
In March 2006 GTC Croatia acquired a 1.2-hectare site in New Zagreb, on which 14,000 sq m of net retail space and 10,000 sq m NRA of office space is planned to be completed in 2008.
At the same time, GTC Croatia is developing a prestigious golf resort on the sea coast of Istria. The project includes 20,000 sq m of residential space and a 5-star hotel, in addition to a professional 18-hole golf facility. GTC Croatia is a 75% partner in the residential development and an 80% partner in the hotel project.