Portfolio
City Centre Mall, Nashik
Project Details:
Asset Class : Retail development
Land : 6.04 acres
Leasable / Saleable Area : 0.37 million sq ft
Location : Nashik, Maharashtra
Indian Portfolio Company : City Centre Mall Nashik Private Limited
Development Partner : Sarda Group
Investment Date : June 2007
Funds Invested : EUR 10.42 million
Equity Stake : 50%

Project

Nashik, the wine capital of India, is part of the Mumbai-Pune-Nashik Golden Triangle promoted by the state government of Maharashtra as an area for economic development. With a population of over 1.4 million, Nashik is also a hub for auto and auto-ancillary industries, and is emerging as an aviation centre.

The first and only organised retail development project is located in Nashik, approximately five minutes driving distance from the current high street and is surrounded by the primary catchment of middle and high income households. The retail development of 800,000 square feet with largest covered parking was completed and commenced operations in the year 2009. The mall has presence of key anchors store – Westside, Big Bazaar, Pantaloon, Reliance Home Store and houses many leading international and national brands besides entertainment centre and a multiplex. The mall maintains healthy footfalls and has turned into the social and shopping hub for the city.

Yatra's joint venture partner in this project is the Sarda Group, a Nashik based diversified business group with a history of pioneering initiatives in the city. Key business activities of the group include real estate, consumer products, hospitality, education and niche floriculture.

Yatra has fully exited from this investment in February 2016 and received the entire sale proceeds of EUR 5.21 million.

Copyright © 2008 yatracapital.com . Designed By : Idealake