Atterbury Europe and its Romanian partners IULIUS Group have embarked on an extensive expansion and redevelopment project at Iulius Mall Suceava, to upgrade and keep this regional market leader at the top of its class. We hear from Roux Gerber, head of Atterbury Europe developments, what this significant undertaking means for the region.

The mall was first built 14 years ago – how does in fit into the retail environment in Suceava and how has that environment changed over the years?

Iulius Mall Suceava is the dominant retail destination in Suceava and has a very loyal customer base. This has helped it to stand its ground despite the Covid pandemic and other competitors in the market. It was very positive to see the resilience Iulius Mall Suceava showed during Covid, and it has also been one of the first malls in Romania to recover to “normal” trading conditions.

How extensive will this expansion be? Kindly walk us through what will be added and the scope of the development required.

Land adjacent to Iulius Mall Suceava was acquired prior to the pandemic, in 2018, as a strategy to expand the mall in the future. The mall’s excellent trading results created a positive environment which saw the demand for space increase. We recognised this demand via tenants who constantly expressed the need to expand in their current location; numerous new potential tenants whom we would have liked to accommodate but did not have space for; and existing tenants who expressed a need for relocation to bigger premises. So, with this in mind, the team put together a scheme that entailed the redevelopment of 9 500 sqm of existing lease area and the addition of new retail letting space of a further 14 500 sqm. The expansion and redevelopment will therefore cover a total of 24 000 sqm of lease area (GLA) and include additional external parking and exciting new public landscape areas. The expansion will also include a value centre concept that will be integrated into the existing mall configuration.

Where in the process are you at present, and what is the timeline?

We’re in the planning approval phase, designs are being finalised, leasing is far advanced and the team is getting ready to move into the construction and delivery phase, earmarked to start in Q4 of 2022.

Can you single out specific new tenants that you will be excited to welcome to Iulius Mall Suceava?

The leasing team is currently in final negotiations with various exciting new tenants, but we cannot share details just yet. One thing we can guarantee is that the customers of Iulius Mall Suceava will continue to have the best mall in the city, with the full spectrum of retail and entertainment offered under one roof.

Is it too soon to ask for details of an official opening?

A little early, yes! The expansion and redevelopment will take place over the next year and a bit, but we can assure you that when the time comes, we will definitely roll out an exciting and unique opening programme worthy of the quality and track record of the Iulius Mall brand in Romania.

What do you believe will make the new-look Iulius Mall Suceava the best of its kind in the city or region?

Iulius Mall Suceava has been the foremost mall in the region, with a management team that brought to life the owners’ vision of being a caring, involved landlord. The decision to act on the demand in the retail market and kick off an extensive expansion and redevelopment project merely months after the perceived end of the pandemic, serves to prove the commitment to this vision, and to ensuring that Iulius Mall Suceava remains best in its class in the region. The envisaged new look, with the additional new value-centre concept, and the focus on public green landscaping is going to reinforce the idea that Iulius Mall Suceava is “the place to be”.

Can you share some of the feedback from tenants and new prospects?

The feedback has been overwhelmingly positive and the leasing team is hard at work to find the perfect space for each new entry or relocation requirement. The tenants are excited about the investment and support the vision for an even better Iulius Mall Suceava. Keep watching this space!