Tomorrow the 272nd shopping centre of Klépierre/ABN will open in Malmö. It is managed by the subsidiary Steen & Ström. In the next years we will see what consequences this project will have on local centres and not the least on Main Street Malmö (Södra Förstadsgatan).
In the 1970s and first 80s Malmö suffered from high unemployment as ship yards, textile industry and others were shut down. In the middle of the city there were large vacant lots. In the beginning of the 1980s an insurance company decided to invest in a multi- use project (galleria-hotel-apartments) on a vacant lot which have been empty for 17 years. The project is called Triangeln.
That shopping centre created an anchor point at the end of the northern part of the Main Street. It started a refurbishment process. I worked with several of the properties, with concept development and leasing. Rents were raised four – five times making even apartment building possible. Our leasing policy was to find tenants that were in some respect unique, not ubiquitous and present in every shopping centre.
But the real change comes tomorrow. The Main Street is pushed from the throne. The Emporia shopping centre has attracted two of todays major brands, Apple Store and the Illum department store. Illum is Danish and has its original department store in the prime site of Copenhagen. Recently they opened in a similar site in Stockholm.
Why couldn´t Main Street attract them. No feasible space? Well – the adjacent Triangeln shopping centre is due to open a large extension. They could have encompassed these tenants. They also have a direct access to the Öresund train.