The high-street enters buildings

Streets, arcades or even fountains have become elements of the new shopping centers’ interiors. Contemporary shop formats integrated in the upcoming shopping malls feature all the components that the public retail and service centre should offer. Thus, city high-streets are now becoming parts of the new shopping centers. Mall Varna for instance, a retail center opened in June has the capacity to accommodate between 3,000 and 4,000 people and has become the first Bulgarian host of some global retail brands.
Shopping space rents in malls in Sofia and Varna range between EUR 20 and 60 per sq m per month while in Plovdiv they are between EUR 5 and 50 per sq m. Sofia’s sale prices exceed EUR 3,000 per sq m and EUR 5,000 in Plovdiv. However, one would rarely come upon partial sales in shopping malls as their owners have the objective to rent out space and not sell it.
Rents for high-street shops historically tend to be significantly higher. Some of the most expensive premises that could be rented in Sofia’s city center are located on Solunska St. (the corner with Vitosha Blvd.). A shop with 10-meter window there has been priced at EUR 106 per sq m per month. The highest rental rate on Vitosha Blvd. has reached EUR 133 per sq m, while the lowest ones stood at EUR 25 per sq m.
Rents on Sofia’s major boulevards vary between EUR 30 and 60 per sq m per month. The rent of a 600-sq m shop located on Patriarh Evtimii Blvd. has been set at EUR 33 per sq m. Rental rates at Rakovski St. start from EUR 13 per sq m. This price refers to a 31-sq m unit. However, upper rental price levels go up to EUR 95 per sq m.
The highest sale prices in Sofia come near EUR 47,000 per sq m. This price corresponds to an 85-sq m shop on Vitosha Blvd. Some of the priciest streets include Rakovski St. with 25-sq m room on sale for EUR 22,000 per sq m and Patriarh Evtimii Blvd. where a 44-sq m one costs EUR 18,000 per sq m.
The most expensive properties in Varna are actually the ones in the very city centre. An 80-sq m shop is up for sale for EUR 12,500 per sq m. Yet, significantly lower sale prices have been registered in neighborhoods. In the area of Chaika the upper end stands at EUR 2,000 per sq m referring to a 50-sq m unit.
A 90-sq m shop in Plovdiv’s Vastanicheski area is also close to the EUR 2,000 per sq m price tag. The most expensive shopping space in Plovdiv has been valued at EUR 10,000 per sq m, a price for a 10-sq m unit at the city’s high-street.