Russian daily consumer goods chain Lenta leases space in Finnish investors’ shopping centre in St Petersburg
Russian daily consumer goods chain Lenta has leased space for a hypermarket and will become one of the anchor tenants in the SRV-developed and -constructed Okhta Mall shopping centre in St Petersburg. Lenta has leased a floor area of more than 9,000 square metres, which is nearly 12% of the total leasable area of the shopping centre. Lenta will bring to the shopping centre its new, high-quality concept.
”Lenta is one of Russia’s leading daily consumer goods chains and has a long and successful history in the St Petersburg market. The chain is very popular among local consumers. Through this agreement, we have established close links with a major daily consumer goods operator, whose largest single shareholder is the US investment company TPG Capital,” says Veli-Matti Kullas, SRV’s SVP, Project Development in Russia.
Following the signing of the Lenta agreement, binding lease agreements now cover approximately 25% of Okhta Mall’s premises. Taking into account letters of intent, over 40% of the retail space has been reserved. Among the tenants are distinguished brands such as Decathlon, H&M, local children goods’ hypermarket Mama and the Finnish University Pharmacy as well as other brands that are well known in Russia. The shopping centre will open in 2016.
Okhta Mall shopping centre is being built in the immediate vicinity of St Petersburg city centre, next to excellent transport links. SRV owns 45% and Russia Invest real-estate investment company 55% of the shopping centre. Russia Invest’s shareholders, in turn, are Finnish institutional investors. Ilmarinen, Sponda and SRV each own a 27% share of Russia Invest, Etera owns 13% and Onvest 6%.
SRV Group Plc
Veli-Matti Kullas, SVP, Project Development in Russia, tel. +358 40 501 5280