Orchid Developments Group Ltd
12 October 2011
12th October 2011
Orchid Developments Group Ltd.
("Orchid" or the "Company")
International retailer H&M select Grand Mall for first store in Varna
Orchid Developments Group Ltd, the Bulgarian focused property developer and investor, today announces that H & M, Hennes & Mauritz AB (H&M), the international fashion retailer has recently signed a new tenancy agreement at the Grand Mall Varna.
As part of H&M's international expansion plans the fashion retailer has agreed to take over 2000 sqm across two levels of the Grand Mall for a full concept store. This leasing represents 4.5% of the total net lease area of the Grand Mall and brings the current leased area to over approximately 76.7% (38,146 sqm). H&M intend to open their flagship store in spring 2012 at Grand Mall Varna, which is already home to international brands such as Bershka, Carrefour, Mango, Nike and Zara.
Guy Meyohas, Chief Executive Officer of Orchid, said: "We are delighted that H&M have chosen the Grand Mall Varna for their flagship store in the region. Securing a high quality brand like H&M demonstrates that the Grand Mall is the best retail location in Varna."
Guy Meyohas +35 92 981 9955
Shore Capital and Corporate Limited
Dru Danford / Stephane Auton +44 20 7408 4090
Reg Hoare / Tim McCall / Vicky
Watkins +44 20 3128 8100
Notes to Editors:
Orchid Developments Group Ltd (OCH.L), which listed on the AIM market in July 2005, was established with the aim of generating value for shareholders by investing in real estate and leisure business opportunities initially in Bulgaria.
The company is active in all principal sub-sectors of the Bulgarian real estate and leisure markets and currently holds three residential and six commercial property developments in Sofia and Varna. Its principal investment is the Grand Mall in Varna, a leading shopping mall in Bulgaria.
This information is provided by RNS
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