Lonavala’s wait for a mall will get over in 20l1, when Lonavala Square shopping-cum-entertainment centre will become operational.
The 1,50,000 sq.ft mall, which will come up on High Street, is being developed at a cost of Rs.90 crore.
"Because of the location of the mall and the strategic positioning, the mall will be working mainly on a pure rental model. However, we are open to look at the minimum guarantee and revenue sharing model in case the prospective retailer is a strong player," said Susil S Dungarwal, chief mall mechanic, Beyond Squarefeet Advisory Private Limited.
The formal leasing of Lonavala Square will begin in September this year.
The mall will have a three-screen multiplex, a 20,000 sq.ft family entertainment centre, 13 kitchen food court and four fine dining restaurants, apart from vanilla retailers.
As Lonavala is a tourist location, all vanilla stores will be of an average of 350 sq.ft, thereby enhancing productivity of the retailer and improving the optimum tenant mix of the mall.