Plaza Centres - C&W appointed as the exclusive letting agent of Hungary’s largest shopping centre

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The Challenge

Plaza Centres has appointed C&W with the exclusive pre-letting of its 65 000 sq m GLA new shopping centre development, Arena Plaza. The developer had two major objectives: reach the 100% occupancy by the opening with an international tenant mix; complete the pre-letting by November 2007, with less than a year time frame.

The Solution

Step 1: Establish a leasing team of 6 professionals dedicated for the project.

Step 2: Marketing of the development among major international retailers and establishing the anchor tenant base within the centre (such as Hervis, Zara, H&M, C&A, Tesco) which served as an interest base for smaller retailers.

The Results

Cushman & Wakefield has successfully leased the 65,000 sq m GLA Arena Plaza shopping and leisure centre on 100 % occupancy by its opening in Q4 2007. Arena is the largest shopping centre in Hungary and is regarded as offering the most extensive tenant line up under a single roof. Amongst the 200 shops are leading retailers, including Peek & Cloppenburg, M&S, Tesco, Zara, H&M, Bershka, Douglas, Promod, Mango and Swarovski. In addition to cafes and restaurants, there is also a 23 screen multiplex cinema plus the only 3D IMAX in Hungary.