Knight Frank appointed as exclusive consultant for shopping centre GUM in Kazan – lease and reconception services

14 June 2011

According to the new concept, this 4-storeyed shopping centre with total space of above 13 000 sq m is to be retargeted towards younger audience with the replacement of current tenants. OAO Edelweiss Group, the project developer, plans to locate a number of popular brands within its premises such as clothes and shoe shops, cosmetics and perfume stores, restaurants. The first opening of the project GUM was held in summer 2002.

The rebranded shopping centre will start operating in autumn 2011. Knight Frank is acting as an exclusive consultant of the project.

The shopping centre features a convenient location with an easy access to Pushkin Street, a busy transport thoroughfare. An extra pedestrian traffic is generated by Baumana St and Central Square always busy with people.

Anna Schapova, Senior Consultant of Retail Department at Knight Frank: «Once the shopping centre opens to the public it is bound to become a popular destination amongst the young residents of Kazan due to the fact that there are about 10 universities in the surrounding area. The new concept will exploit this advantageous location in the best way possible with the coffee shops to be opened up as well as the multimedia store. The young fashion store is planned to be one of the anchor tenants. It is due to such reconception that the shopping centre will become popular on the already saturated market of Kazan».

OAO Edelweiss Group comprises a number of companies such as ОАО AKB Energobank in charge of banking services, ОАО «SO «Talisman» - insurance services and ZАО "Trading Company «Edelweiss» (one of the largest supermarket chains in Tatarstan). The company’s track record includes, for instance, Ring Shopping Centre with the total area of 46,800 sqm that has been operating for about 4 years.

GUM Shopping Centre opened up in August 2002 года replacing a town hall building. Due to its advantageous location the shopping centre has become popular amongst the residents and tourists alike from day one. The 4 floors of the shopping centre comprise a number of clothes stores, shoe shops, cosmetics and accessories stores as well as the pool club «Sharoff» located at the underground level.