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August 6, 2021
BUSINESS

S IMMO AG completes the first phase of Sun Plaza remodelling

  • The newly reconfigured area of Sun Plaza opens on March 23rd, adding 7,800 m2 of new commercial spaces to the scheme

 

S IMMO AG completes the first part of the remodelling process for Sun Plaza shopping centre in Bucharest: on March 23rd, the newly reconfigured area within Sun Plaza will open to the public, hosting 7 new shops with a total leased area of 7,800 m2. First remodelling works include the creation of a new shopping area on level -1, more generous shopping space for H&M, C&A and Bebetei, four new brands – Altex, Terranova, O Bag and Autograf – as well as redesigned access from the subway and the underground parking.

Phase 1 totals 7,800 m2 of redesigned shopping space displayed on 3 levels, out of which 2,000 m2 are occupied by four new tenants: Altex, Terranova, O Bag and Autograf. Anchor tenants such as H&M, C&A and Bebetei have relocated their stores and now enjoy improved areas.

The existing subway access tunnel was extended and connected to the mall extension. As of March 23rd, the tunnel will be equipped with an approximately 40 m long art installation, designed by Peter Kogler, one of the most renowned and internationally successful Austrian artists.

Major changes include the opening of a new shopping area on level -1, where Altex and Bebetei will be located, as well as new access to the underground parking and a new elevator connection.

“For over six years, millions of people visited Sun Plaza in search of a sunny oasis of shopping, relaxation and fun. The centre managed to gain its position as the dominant retail scheme in the Southern part of Bucharest and the remodelling aims to further strengthen it, by adding more brands, trading up the centre and gaining further fashion competence. With the completion of the first stage, we are just at the beginning of a transformation that will bring Sun Plaza closer to its customers’ needs. The construction works will continue at fast pace in the next few months, so more changes are still to come”, stated Friedrich Wachernig, member of S IMMO AG’s Management Board.

The upgrading process of Sun Plaza started in the first quarter of 2016 and is expected to be completed in the first quarter of 2018. The remodelling works will add to the scheme 11,000 m². of high-quality retail and leisure space for up to 40 new stores. Apart from the 11,000 m², other 9,000 m² from the existing retail units will be redesigned during the remodelling process.

 

Process divided in phases

 

The reconfiguration process is divided in phases, spread over a period of 24 months. This will help the business continuity for the existing retailers and ensure that the quality of the shopping experience in the existing part of the centre is maintained.

  • Phase 0 – preparation period (works were not visible and did not impact current operations).

 

  • Phase 1 (Q2 2016 – Q1 2017)

 

  • Phase 2 (Q1 2017 – Q3 2017)

 

  • Phase 3 (Q3, 2017 – Q1, 2018)

The reconfiguration of Sun Plaza is conceived by architects and engineers from ATP Vienna, one of the biggest integrated design companies, based on the latest state-of-the-art criteria. The local contractor appointed for the construction works is Bog’Art, the biggest Romanian construction company, and the project coordination is ensured by Optim Project Management.

 

Excellent leasing premises

 

Sun Plaza witnessed a great performance so far and the reshaping process aims to further strengthen its position on the Bucharest retail market. The project is now in its third year with 100% occupancy and 90% of the additional space to be opened in 2018 is already pre-let.

 

 

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