Outlet Village Sofia will open at the end of November with 33 stores, a restaurant and 9,000 sq m of leasable area. The project by the investment company Trinity Capital is being built next to the XOPark Sofia retail park on “Botevgradsko Shose“ Blvd. in the area of the intersection with the Ring Road.
About 92% of the stores are expected to be open at the opening, and the remaining areas have already been leased and tenants are about to be accommodated. If the results are good, the complex can be expanded in the coming years by another 2000-3000 sq. m and at least 10 new brands.
Format with pedestrian streets and a central square
The Chief Operating Officer of Trinity Capital Ivan Nachkov presented the project. According to him, Outlet Village Sofia is designed as a small village with pedestrian streets and a central square, and not as a traditional mall or retail park.
The concept mainly provides for independent stores of individual brands, instead of multi-brand stores. Some of the brands will have their own mono-brand stores in Bulgaria for the first time. For the implementation of the project, Trinity Capital works with international consultants and partners with the Austrian Haslinger Group.
„The market always welcomes good offers“, commented Ivan Nachkov.The location was chosen with the possibility of the complex attracting not only residents of Sofia, but also visitors from other parts of the country, including those passing through. The idea for the outlet village arose during the planning of the expansion of XOPark Sofia after an analysis of the European market.
The company is also betting on development outside Sofia
Trinity Capital is developing its retail parks under the XOPark brand. The portfolio includes sites in Sofia, Plovdiv, Yambol and Haskovo, as well as the West Mall, Park Center Sofia and Mall Plovdiv shopping centers.
According to Nachkov, the market for modern retail space is entering a more mature stage. He expects competition to be increasingly determined by tenant selection, architecture, landscaping, services and maintenance, and not just by the construction of new square meters.
The company sees opportunities both in retail parks and malls, and in the development of smaller shopping areas for local entrepreneurs. After the opening of Outlet Village Sofia, the investor will first evaluate the results of the project before taking further steps in expanding the format.
Detailed statistics on average property prices in Bulgaria by cities and neighborhoods can be seen at imot.bg