The conflict that broke out between the Torgovy Kvartal company and the Retail Development Association (RTDA) regarding the lease of space in a shopping center in Kaluga ended in a settlement agreement. 14 fashion brands remain on the property.
“In the process of changing the owner at the facility, we were offered new working conditions, including the financial conditions under the previously concluded agreement,” commented Evgeny Bogdanov, RTDA Development Director. “At that time, the proposed conditions seemed unacceptable to us: the internal regulations in the shopping and entertainment center were changing, the rental rate was sharply increasing - all this put the business at risk.”
However, in the process of operational negotiations, the Retail Development Association (RTDA) found a sufficient number of arguments to reach a compromise with Torgovy Kvartal and hold the franchisee: “When considering new commercial conditions, the operator proceeded from the existing realities in the shopping center, which today are far from ideal, to which we strive for, ”explained Vladimir Akhapkin, Development Director of Torgovy Kvartal.
Recall that the developer of the Torgovy Kvartal object is currently working on the concept of the object. As a result, a modern shopping and entertainment complex “Torgoviy Kvartal” will appear on the site of the district shopping center with an area of 43 thousand square meters, the area of which will be 88 thousand square meters. The new complex will include a shopping area, a cinema, a family leisure complex, a sports hypermarket and car dealerships.
“For a peaceful resolution of the issue, it was enough to sit down at the negotiating table and consider the concept of the development of the shopping center in the future, taking into account the growth in the volume of space, the number of operators represented, the flow of visitors and the projected growth in turnover,” Vladimir Akhapkin explained. “This approach has clearly demonstrated the economic feasibility of the work of certain operators in a shopping center, as well as the validity of changing rental conditions.”
According to Mr. Bogdanov, the tenants were convinced that Torgovy Kvartal would really turn the depressed facility into a world-class shopping center, and therefore decided to stay in the center on the newly agreed compromise conditions: “We hope that the developer will breathe new life into the object, which will allow the center to take a leading position in the city. "