Alfa Retail Park Facing Many Positive Changes
Information provided by Mārcis Budļevskis, Board member, SIA Linstow Center Management
The year 2014 is to bring plenty of positive changes for Alfa Retail Park. Spanking new and spacious premises of the Retail Park will welcome shops of such brands popular in Latvia as City Men/City Women, Mothercare, Next, Mohito, and the Alfa’s long-term tenant, Rito, that had stopped operating in the Retail Park for some time, will return again.
Several Alfa tenants, such as Seppala, Jaguar, Tiger, Happy Dog, Riči Nika, Gards, Sun Lounge, Nordea Banka, as well as Čipolīno that will also change its name to Kids Zone, will change their location within the Retail Park and move to new premises. Some of the tenants, such as, for example, Cenuklubs, though staying in the same premises will have their retail areas reconstructed and renovated. Expansion of the retail area for Jānis Roze bookstore in Alfa is under consideration as well. Tender, home textile shop, will continue functioning in new premises in Mols Shopping Centre.
In February, Cubus and Dressmann that are Varner brands and the Finnish Tiimari halt their operations in Latvia, Alfa Retail Park included.
Changes in the composition of shops and rotation of shop locations have already started and are to be completed in the first six months of 2014. All costs relating to launching of new shops and rotation of shop locations after lease expiry are, as a rule, covered by tenants, therefore there is no reason to speak of investments made by the owners of Alfa Retail Park in this respect.
SIA Linstow Center Management, a Galactico shopping centre developer (Alfa, Galerija Centrs, Mols, Dole and Origo Shopping Centres) and real estate operator, has already been operating in Latvia for 17 years. Total floor space of shopping centres managed by LCM in Latvia amounts to 230,000 m2 and 275,000 m2 in all Baltic countries (LCM is also the operator of Ülemiste, the largest shopping centre in Estonia).