Athens, June 11th, 2008
Owned and developed by Sonae Sierra and Rockspring
"Pantheon Plaza" opens its gates on next October
- A €76.3 million investment, with approximately 120 units
- 27,000 m2 Gross Lettable Area (GLA), of which over 85% is already let
- Main national and international brands present
- Project includes a supermarket and 3 cinema halls
Sonae Sierra, the international shopping centre specialist, and Rockspring announced today that Pantheon Plaza, the biggest shopping and leisure centre in the wider periphery of Thessaly, in Central Greece, will open its gates to the public on October 23rd 2008. As the development of the centre is moving ahead at a rapid pace, more than 85% of the total GLA is already let.
Located in the city of Larissa, the new centre has a shopping and leisure area of 27,000 m2 and it is owned and developed by a partnership between Sonae Sierra (50%), and the Rockspring Property Investment Managers Ltd on behalf of its client, the PanEuropean Property Limited Partnership (50%).
Pantheon Plaza will host approximately 120 units, including the main international and national brands. Some of the important large shops already committed to Pantheon Plaza are an Aldi supermarket, a cinema Movies Star with 3 screens and H&M, while Media Markt has already started its operation in the shopping centre. It is worth noting that the latter, together with H&M, Promod, Mikyazy, Footlocker, are newcomers in the city of Larissa.
"Pantheon Plaza will include a variety of well known international brand names in the clothing sector, such as Accessorize, Adidas, Karren Miller, Nautica, Notos, Reebok, Timberland, Attrattivo, Bostonians, Bag stories, Lapin, Mandarino/Marasil, Tsakiris Mallas," notes Tiago Eiro, responsible for the Development of Sierra in Greece. "To the visitors of the food court we offer plenty of opportunities to relax and enjoy the delicious offerings in Flocafe, Goody's, Hellas Melathron and many other restaurants and cafes. We hope to attract 5 million visitors in the first full year of activity," he adds.
With 1,500 non-paid parking spaces, the Centre represents a total investment of €76.3 million and, after opening, will create 900 jobs.
Larissa's new shopping and leisure centre will be developed on the east side of the old national highway, 1.5 km from the city centre, and will serve a total population of 197,000.
Based on innovative practices
Pantheon Plaza is an innovative centre in terms of architecture and concept. "With a view of Mt. Olympus, Pantheon Plaza is an authentic re-creation of the mythical ambience of the Gods and Muses, the heaven of luxury shopping in a modern sophisticated building," states José Quintela, head of Architecture and Conceptual Development for Sonae Sierra.
This innovative shopping centre is expected to set a new standard in shopping and leisure activities for people of all ages, contributing to the socio-economic growth of the city.
The Project has implemented an Environmental Management System - to ISO 14001 standards - that allows the site under construction to evaluate, control and minimize its environmental impact. The project established and follows an environmental Policy committed to continuous improvement of its environmental performance and pollution prevention.
The implementation of this EMS has already ensured the achievement of several best practices benchmarks like the achievement of a 90% Recycling rate of solid waste up to now.
Sonae Sierra, file://compaq/documentos%20p/www.sonaesierra.com, is an international shopping centre specialist, with a passion for bringing innovation and excitement to the shopping and leisure centre industry. The Company owns 48 Shopping Centres in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil, with a total Gross Lettable Area (GLA) of more than 1,9 million m2. Sonae Sierra has 13 projects under development and 15 new projects in different phases of completion in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil with a total GLA of 1 million m2. In 2007, its centres welcomed more than 410 million visits.
Rockspring Property Investment Managers Ltd, www.rockspringpim.com, is an established leader in European property investment with over 20 years practical experience and with funds under management of over €6.17 billion (December 2006) in 15 European countries. With property investment professionals located in its London, England Headquarters and is 6 continental European offices, Rockspring has the unrivalled local knowledge, long-established experience, wide-ranging relationships and resources for investors considering investment in a variety of investment fund formats, asset classes and geographic regions.