01 THE OPPORTUNITY

• Compromised image of the shopping center for both tenants and customers
• Expiring leases
• Strong competition
• Significant amount of non-collected receivables
• Almost negative NOI

02 THE SOLUTION

• Reframed retail proposition of the project as a retail park – family oriented, value for money offerings, synergy with neighbor big box retailers
• Target different tenant mix and retailers’ formats compared to the direct competitor
• Altered leasing approach, introducing more flexible terms and incentives to attract and retain interest from the retailers
• Focused on collection, negotiation of debt payment plans and ultimately removing non-performing tenants
• Increased marketing – set up events calendar, maintained active digital marketing and social media presence
• Prepared a plan for development of additional big-box project in the parking lot

03 THE RESULTS

• Successfully retained important anchor tenants, i.e. Jumbo, Sport Depot, McDonalds, MatStar and others
• Singed new leases and decreased vacancy
• Increased footfall and turnovers with two-digit numbers for two consecutive years
• Increased collection rate and decreased the balance of non-collected receivables
• Increased NOI with 30%
• Signed up tenants for the prospective big-box retail scheme