Domus Pro retail centre development completes with a Grand Opening

The Domus Pro retail development project in Vilnius, acquired by the Baltic Opportunity Fund in August 2013, has now been completed on time and budget. The Grand Opening took place on 20 March 2014 at a well-attended ceremony.

Located close to the intersection of the future Northern bypass around Vilnius, the Domus Pro retail centre has been under development for 9 months. The centre has been developed by TK Development A/S and acquired by Northern Horizon Capital for its latest Baltic fund. It has RIMI (ICA Group) as the anchor tenant with 65 % of the space taken up by the hyper market.

The centre has opened its doors to the first shoppers on 20 March 2014 and already there seems to be great interest from locals, both pedestrian and visitors coming by car.

“Upon opening we already have 90 % occupancy in the centre, which is very satisfactory. There is a lot of attraction in this location and we are already seeing a great tenant mix. We have several potential tenants in pipeline for the last few premises and so I am comfortable that we can even strengthen the mix over the coming months at attractive rent levels”, says Tarmo Karotam, fund manager of the Baltic Opportunity Fund.

With the completion of the centre, the final stages of the take-over by the fund will close in April 2014 as scheduled.

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