Magneto mall 40 per cent occupied, 65 per cent leased

    Magneto mall 40 per cent occupied, 65 per cent leased

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    Magneto mall, Raipur, which opened its door for retailers on February 5, 2010, stands 40 per cent occupied. The 10.35 lakh square feet property is constructed by Avinash Developers Pvt Ltd (ADPL).

    “Currently, the operational anchors of the Magneto are and PVR and the upcoming anchors will be Easyday Market and . The property at this time is 40 per cent occupied and 65 per cent leased out,” , COO, ADPL, confirms to IndiaRetailing.

    The other retailers who have confirmed their arrival to begin trading in the mall following the fixed rental include (1,057sq.ft), (1,200sq.ft), Reynolds (300sq.ft), Longhorns (300sq.ft) and (1200sq.ft) and those who agreed to enter the mall following revenue sharing or minimum guarantee include Ginni & Jony (1500sq.ft), Metro Shoes (1200sq.ft), Mufti (600sq.ft), Liliput World (1800sq.ft), Ghoonghat Sarees (600sq.ft) and Chulbuli – Women Department Store (3000sq.ft).

    “Dulhan, a Chattisgarh-based fashion retailer, opened a 3,500 sq.ft outlet on April 15 on revenue-sharing agreement. The other brands who are going under active negotiation include , Veetel Jeans, Numero Uno, Madame, , Marks & Spencers, Shoppers Stop, , and Easyday Market,” reveals Prabhu.

    Magneto is a multi-faceted development on NH 6, Labhandi GE Road, Raipur. ‘Magneto Haat’, one of its salient features, provides a huge space for local and regional retail players to display their merchandise. The mall is located at a distance of 4.5 km from the heart of the city and its visitors have a mixed experience of shopping arcade, a 12,292 square feet food court, entertainment zones etc.

    — Diwakar Kumar