Outlet centre specialist Fashion House Development (FHD) has expanded its activities in Russia with the acquisition of a site in Moscow and the completion of its second site in St Petersburg.
Outlet centre specialist Fashion House Development (FHD) has expanded its activities in Russia with the acquisition of a site in Moscow and the completion of its second site in St Petersburg.
The St Petersburg site is located southwest of the city limits on a major highway intersection allowing easy access from all main routes and near the Pulkovo airport. The 37,000 m2 centre will be home to 172 units, food courts, children’s play area and 1,200 parking spaces. It has a catchment of over 4.2 million within a 90-minute drive.
The Moscow site that has already been secured is northwest of Moscow near the Sheremetyevo International airport on the main highway connecting Moscow and St Petersburg. The 39,000 m2 complex will be home to 193 units, 7 food courts, 2217 parking spaces and a children’s play area all themed with Moscow classic and traditional architecture. It has a catchment of over 8.3 million within a 90-minute drive and is due to open in November 2011.
CEO Neil Thompson: 'Russia has no factory outlets and yet there is the potential for at least 20 based on population, brand awareness and potential spend. So far we have secured two locations with Moscow due to open in November 2011 and St Petersburg in 2012 and we have a feasibility studies being carried out on a further 11 sites.'
Thompson added: 'We partnered with GVA Sawyer Moscow to act as local project managers for our Moscow site and they also acted as a broker representing the land owner, Credor Management Company, on the St Petersburg site.'
