CBRE: The newest retail park in Bucharest reached the last stretch: Lemon Retail Park to be opened in September
Synergy Construct scheduled the opening of the retail park at the most convenient moment for the residents in its catchment area, synchronizing the launch with the returning to school period, when the visitors would benefit most from the newest shopping destination in the community.
Located in the northern part of Bucharest, in Pipera, close to the A3 Highway, and close to several important residential areas, Lemon Retail Park will fill up a good share of the area’s retail space needs and will benefit from the reduced retail offer in the zone, as well as from its location next to the A3 that will ensure strong traffic. With an area of approximately 7700 square meters GLA (leasable area), the freshest shopping destination of the neighborhood will offer its visitors not just shopping spaces, but also leisure facilities, a food court, and 292 parking spaces. The project is being developed on a plot of 6,000 square meters, following an investment of 15 million euros.
Synergy Construct, founded in 2001, marks with this launch its first retail development as an owner in the context of the strategic diversification of its portfolio of activities started in the recent past. In addition to its work as a general contractor, Synergy Construct is now successfully developing its own residential and commercial projects.
The new retail park brings together a mix of well-known local names, as well as newly arrived brands in Romania. It is a perfect blend that accommodates shopping brands like Pepco or ARN Store, services operators like Banca Transilvania, with Mega Image as a food anchor, a Vcare Pharmacy, and restaurants such as Sushi Gallery, Brasserie and Popeyes. Lemon Retail Park will be also a pet-friendly location, hosting a Fressnapf store, known as Europe’s largest pet retailer, one of the first openings of the brand in Romania.
” We are happy to announce the opening of Lemon Retail Park in September and we are sure that it will be a very well-received project by the residents of the north region of the Capital. Our strategy is to enrich our portfolio with similar developments, connected with residential projects to which we add value. We provide a perfect mix of retailers, through which we offer residents in the area the opportunity to make their basic shopping easy, but also pleasant shopping, leisure, and food-court experiences. We are currently analyzing the market and looking in Bucharest and in other cities in the country, for the development of similar concepts”, declared Liviu Suvac, Chief Business Officer Synergy Construct.
The concept of small or medium-sized retail parks, developed in the proximity of a residential area, is increasingly present in the local market and has shown to be the most successful format in the industry. Retail parks are the most popular concept for developers in 2022, with more than 89% of the 147,000 square meters of new retail stock announced for this year being injected into this type of project, according to the latest report by CBRE Romania – Retail Market Snapshot, Q1 2022, the project consultant.
By the end of the year circa 147,000 sq m are expected to be added at the country’s modern stock, out of which 22% will be welcomed in Bucharest while the remainder 78% will be delivered throughout the country in main regional hubs as well as tertiary cities.
To reach at 4.16 mln. sq m at the end of 2022, considering the under–construction and planned projects, the modern retail stock in Romania is continuously approaching new heights, proving its adaptability and resilience to new trends.