Wednesday, 12 November 2014
TLC appointed consulting partner for Zsar Outlet Village, Finland (FI)
Specialist Property asset management company, Thompson Lordland Chameleon (TLC), has been appointed as partner to the €40 mln Zsar Outlet Village, the first open-air outlet center in Finland, now under construction in Vaalimaa.
The project will see its formal leasing launch at MAPIC (19-21 November) in Cannes, France. You can find the Zsar Outlet Village stand at P1 – N61.
The 20,000 m² center, which is due to open its first phase of 12,000 m² in 2016, is situated in South-Eastern Finland, immediately adjacent to the popular cross-border shopper gateway at the Russian border. There are on average around 10,000 Russian cross-border visitors there daily, primarily coming from the St. Petersburg region. It is estimated by the Finnish government that the annual number of border crossings from Russia to Finland will grow from the current 10 million to 18 million by 2017.
A leasing campaign has just begun for the 120-unit outlet focused on leading fashion and lifestyle brand operators.
In making the appointment Sami Vainiomäki, CEO of developer East Finland Real Estate Ltd (EFRE) said: “We are delighted to appoint TLC to handle the development consultancy, leasing and management of Zsar. Their expertise and contacts are well recognized in the outlet industry across Europe. Zsar enjoys a unique opportunity to target the massive Russian consumer market from the EU, without most of the risks brands usually associate with operating retail in Russia. Every day approximately 10,000 Russian tourists from the St. Petersburg area come to Finland via the border crossing point just 500 meters from Zsar. According to various surveys, 70% of them say their primary reason to come to Finland is shopping - and they are very brand aware”.