Fashion House Outlet Center 90 per cent let

2 Sep, 2008, Bucharest

Fashion House Outlet Center, the first outlet center to open in Romania, is 90 per cent let, announces global real estate consultant Cushman & Wakefield.

The outlet center is part of a larger development called West Park belonging to Belgian company Liebrecht & wooD which comprises a total of 90,000 sq m GLA. Next to Fashion House are DIY retailer Hornbach, which has already opened a 23,000 sq m unit, furniture retailer Kika with 32,000 sq m, and Technomarket, an electrical goods retailer with 6,000 sq m. The retail park has 2000 parking lots. West Park is located on Bucharest-Pitesti highway, at 13 km.

Some of the brands which will open stores in Fashion House Outlet Center are: Puma, Benetton, Mango, Stefanel, Champion, Levis, Dockers, Fornarina, Timberland Nautica, Quiksilver, Diverta, Lee Cooper, Ecco, Steilmann, Camel Active, Leonardo, Bigotti, Cavaliere, Alb si Negru, Ipekyol, BSB, Benvenuti, Jolidon, Optiplaza, Samsonite.

Raluca Utureanu, project coordinator at Cushman & Wakefield Activ Consulting, co-letting agent of the outlet center, said: “The main criteria in selecting retailers was the strength and quality of brand in the Romanian market. Another important criteria was the amplitude of the network these retailers have in Romania; important to justify the need for an outlet shop.”

Fashion House Outlet Center’s design is based on Romanian architectural themes and is inspired by the old center of Bucharest. The project has numerous leisure facilities including restaurants and coffee shops, a playground and shops for the entire family.

Concerning the prices, consumers will find discounts starting from 30% up to 70% compared to regular shops during the whole year. This is a mandatory condition for brands in the center.

Fashion House Outlet Center will open in two phases, the first shops opening on the 26^th November (approx 16 000 sq m).

The investment is around 120 million euros. The center has a catchment area of around 3.5 million potential customers from Bucharest and the surrounding area.

ENDS

Note to editors:

Cushman & Wakefield is the world's largest privately held commercial real estate services firm. Founded in 1917, it has 221 offices in 58 countries and more than 15,000 employees. The firm represents a diverse customer base ranging from small businesses to Fortune 500 companies.

It offers a complete range of services within four primary disciplines:

Transaction Services, including tenant and landlord representation in office, industrial and retail real estate; Capital Markets, including property sales, investment management, valuation services, investment banking, debt and equity financing; Client Solutions, including integrated real estate strategies for large corporations and property own ers, and Consulting Services, including business and real estate consulting.

The Romanian office follows the acquisition in January 2007 of Activ Consulting, which had been Cushman & Wakefield’s Associate Office in Romania for the previous 11 years.

A recognized leader in global real estate research, the firm publishes a broad array of proprietary reports available on its online Knowledge Center at www.cushmanwakefield.com/knowledge.

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