Eugesta and Kapitel signed a lease agreement for 17,000 square metres
Kapitel became the majority shareholder of Viru Keskus
Solina’s new production complex reaches its full height
TARK law firm is moving to the Arter quarter
Kapitel completes 60-million-euro office development in Riga

Over 37 million people visit E.L.L. Kinnisvara shopping centres

Lease income for E.L.L. Real Estate Group companies totalled approximately 26.5 million euros in 2013. Results for both the retail and office real estate were according to the projections. Vilnius Panorama, Riga Spice and Spice Home, Šiauliai Saules Miestas and Tallinn Viru Keskus shopping centre were visited in 2013 by 37 million people and total turnover was close to 365 million euros. The office real estate sector has a positive outlook for 2014, as vacancy is near zero in all office building projects owned by E.L.L. Real Estate.

“Results for 2013 show that E.L.L. Real Estate holds a strong position on the Baltic commercial and business real estate market. Our shopping centres were visited by close to 37 million people, and the number of centres and purchases made both grew compared to 2012. One purchase is made per shopping centre visitor at Panorama and Spice malls, which is a very good result. The newly refurbished Spice Home centre showed especially strong growth, the number of visitors in 2013 increased 12 percent compared to 2012 and the number of purchases was up 22 percent, said E.L.L. Real Estate management board chairman Aldo Dapon.

The office real estate sector has a positive outlook for 2014, as vacancy is near zero in all office building projects owned by E.L.L. Real Estate

The Spice shopping centre in Riga refurbished its visual identity and advertising profile in 2013. With customer convenience and an overhaul of the commercial concept in mind, all of the household goods brands and shops were consolidated in Spice Home and Spice now focuses mainly on designer labels. In 2014, the centre will continue bolstering its selection of fashion brands – the UK’s Debenhams will open its first department store in Latvia, a refurbished Reserved, Riga’s biggest, will be added, and in March, an H&M will open. Besides the abovementioned retailers, other world-renowned designer labels such as Max Mara Weekend, Armani Jeans, Liu Jo, Wolford and Pierre Cardin will reach customers. To make shopping more convenient or customers, parking in Spice shopping centre will be expanded.

At the Panorama shopping centre in Vilnius, Lithuania, a shopping zone with the city’s biggest range of children’s goods was opened in 2013. Leading Baltic toy stores and kids’ goods brands Kidzone, Toys Planet, Mothercare, XS Toys, Minimood and Batukas opened locations. Besides the shops, the centre children’s area also now has a novel playroom integrated with Kidzone along with a possibility of booking it for birthdays. Other shops that opened were the British label Next, the German footwear store Deichmann, the popular household cosmetics brand Drogas and in the home furnishings department, Alan Deko and Skandiamo. In 2013, Sportland’s outlet also expanded. On 8 March 2014, the eagerly awaited Panorama store will open its doors in Panorama Centre, expanding the range of fashion goods even further at this mall.

The Saules Miestas shopping centre in Šiauliai, Lithuania, expanded its concept further in 2013. Two new restaurants were added along with an outlet of the famous German shoe store Deichmann. The sun deck on the roof of the mall, now refurbished, was visited by 420,000 people, 35% more than in summer 2012. In January 2014, a new footwear store, Centro, was opened at Saules Miestas, which offers trendy modern collections straight from the catwalk at appealing prices. The selection includes more than 2,000 footwear and accessories in modern, casual, athletic and classic styles. In March, a long-term tenant will be upgrading its store – leading Baltic children’s brand Kotryna will open, in place of the Cipollino store, a refurnished Kidzone.

E.L.L. Kinnisvara also owns a stake in Estonia’s most-visited shopping centre, Viru Keskus. In 2013, there were 14.8 million visits to Viru Keskus, 8.8 million purchases, and turnover made up 128.2 million euros, which is 2.7 percent higher than in the previous period. This year, the centre will celebrate its 10th birthday, and it will be getting a makeover both inside and out, adding exclusivity with new brands.

In the first half of 2014, a number of internationally well-known trademarks opened their first name brand store in the Baltics and Nordics right here in Viru Keskus: The UK’s Dune London footwear brand, the international designer label River Island and one of America’s oldest and most distinguished fashion brands, Brooks Brothers. Spanish brand Massimo Dutti and Canadian modern shoe seller Aldo will also open their first location in Estonia. A shop co-operated by Cortefiel and Pedro del Hierro (the only one in Estonia to carry Pedro del Hierro products) can also be found in Viru Keskus. The new line-up of shops at the centre will also bring Armani Jeans single brand store and a new footwear store with not just Dune London and Aldo but a new and improved ABC King, Salamander, Högl and Ecco outlet for shoes and accessories.

E.L.L. Real Estate (www.ell-realestate.com) is the leading real estate company in the Baltics, with core activities consisting of developing and managing shopping centres, hotels and office buildings. E.L.L. Kinnisvara owns holdings in five leading shopping centres: Spice and Spice Home shopping centres in Riga, Panorama centre in Vilnius, Viru Keskus in Tallinn and Saules Miestas centre in Šiauliai. E.L.L. Kinnisvara also owns Delta Plaza and Sõpruse Ärimaja office buildings in Tallinn and L3 office building in Vilnius. In addition, the company is the owner of the Nordic Hotel Forum building (operated by OÜ Nordic Hotels) and co-owns, together with Infortar, Tallink City Hotel and Tallink Express Hotel, operated by Tallink Hotels.