UTG’s reconceptualization of the Sofia Mall shopping center increased traffic sixfold

After the reconceptualization of the Sofia Mall SEC, the vacancy rate of the shopping center decreased from 75% to zero, traffic increased sixfold, the Ukrainian Trade Guild reported.

The Sofia Mall SEC (24/83, Heroyiv Nebesnoy Sotni Ave., Sofiyvska Borshagovka) was originally opened as a specialized furniture shopping center. The total area of the two-story building is 13 thousand square meters, the retail area is 11 thousand square meters. There is a parking lot for 500 cars nearby.

After the start of the war, the demand for furniture in this part of the capital region fell sharply. Therefore, at the time of the involvement of UTG experts, in February 2023, the vacancy rate reached 75%. The shopping center was visited by up to 2 thousand people a day, and most of them were buyers of Silpo, and not the furniture part. The remaining tenants were ready to leave the SC.

"After analyzing the situation, our team decided to re-conceptualize the Sofia Mall SEC from a specialized one to a classic district format SC with a focus on clothing outlets," says Evgeniya Loktionova.

The shopping center’s configuration was completely changed. Experts made new plans for the first and second floors, installed display cases and roller blinds, thanks to which the open space in the form of an exhibition was transformed into a traditional gallery. Brokerage was carried out at the same time.

"All work was carried out in parallel, the shopping center did not close for a day. Plus, all repair work according to their design codes was carried out by the tenants themselves, whom we attracted. In other words, as a result of the re-conceptualization, the developer, without closing, without its own investments, instead of a furniture SC where no one went, received a classic shopping center with a focus on outlets with high attendance," Loktionova summarizes.

In particular, New Balance, Arena Stores, and Orange Club Sinsay outlets opened here. Tenants such as JYSK, Blisk, Eva, Famo, Syuf, Duna, Anabe Arto, Rozetka, Nova Poshta, Aurora, and Chista Hata have also been signed. According to her, it was difficult to persuade many operators to enter the empty shopping center. The arguments were the location itself, with no competition among outlets, and a large number of potential buyers – young families in the nearest new residential complexes.

"UTG, having taken over the facility in February 2023, despite the extremely difficult situation in the country, completed all the work: from developing the reconcept to completely filling the SC with new tenants. This was possible thanks to the extensive experience and high professionalism of the company’s employees. As a result, already in the summer of 2024, after the completion of the reconceptualization work, the Sofia Mall SEC achieved its target indicators: zero vacancy and a stable 15 thousand visitors per day," Loktionova summed up.