Golden Square
Golden Square is the latest retail project from Squarestone Brasil - a dynamic new shopping mall development located in a dense residential area within the São Paulo city-suburb of São Bernardo do Campo (population of over 800,000).
The original 15,000 sq m mall was acquired by Squarestone in a 50:50 JV with a local partner in September 2008 with permission then achieved to extend the mall by a further 16,000 sq m of lettable area. Design and groundworks have been completed, the original mall has been stripped back to its frame and construction of the new 31,000 sq m mall began in April 2011.
Golden Square commands an excellent position on the Avenida Kennedy - one of the major thoroughfares in São Bernardo - and will dominate its catchment when it opens in Q3 2012. Golden Square will be a high quality mall, catering principally for the A/B class consumer category, designed to attract new, international retailers. Squarestone has worked closely with Chapman Taylor in Madrid and London to make this possible - the delivery of an exciting and innovative shopping mall providing a consumer experience unmatched in São Paulo.
On completion - estimated for third quarter of 2012 - Golden Square will provide 234 retail units including 6 anchor stores and 14 megastores. Squarestone has current commitments from, or is currently negotiating with, over 180 prospective tenants. This represents around 80% of Golden Square's available space. Tenants will include a high quality selection of international and national retailers.
Golden Square will provide Squarestone with a showcase to demonstrate how the Company is importing 'Western European' standards to the Brazilian mall sector. Examples include:
- Choosing a tenant mix which provides a comprehensive and balanced retail offer
- Maximising retailers' potential sales through individual tenant selection and positioning
- Designing each mall to provide an individual retail experience
- Providing comfort zones to prolong the customer visit
- Supplementing an internationally designed food court with gourmet dining
These initiatives are designed to optimise customer footfall and circulation around the mall.
In addition, Squarestone has introduced rigorous and disciplined construction management procedures to the project. This will result in tighter cost control and a higher quality of construction build.
