Home Retail Magarpatta mall to start trading in 2011

    Magarpatta mall to start trading in 2011


    Magarpatta mall, Pune, promoted by Satish Magar, is set to start trading in the first quarter of 2011.

    In an exclusive interview with IndiaRetailing, Zaheer Bandukwalla, director, Urban Link Consulting Ltd informs, “We have successfully signed Cinepolis India, (90,000 sq.ft), (30,000 sq.ft) and Landmark (18,000 sq.ft) as anchor tenants. Currently, the property stands 40 per cent leased out and we are planning to rope in more powerful brands.” The gross leaseable area of the property is 6,50,000 sq.ft whereas 1.7 million sq.ft is the built-up area including parking.

    “Cinepolis India will open 15-screen multiplex with over 2,500 seating capacity,” shares Bandukwalla.

    The total number of floors will be two-basement plus one stilt, one ground and three floors. The total investment in this mall stands at approximately Rs.275 crore, according to Bandukwalla.

    “We have not fixed the similar rental model with all the retailers but our priority will be minimum guarantee and revenue sharing,” he adds.

    Magarpatta mall will house a total of 12 anchors whose size will vary from 6,000 sq.ft. to 90,000 sq.ft, while its food court will occupy 30,000 sq.ft. plinth area. The mall is also going to open 15 food and beverages outlets including cafes.

    — Diwakar Kumar