Michele Peresso Gozo shopping complex to open in autumn 2008

Prime Mall is the name of a new shopping, leisure and well-being destination in Republic Street, Victoria, set to open in the autumn of 2008.

A wholly-owned subsidiary of the Michele Peresso Group of Companies, Prime Mall, whose trademark was recently registered, has a total shop area of about 3,600 m2.

Priority in terms of the leasing of space is being given to retailers not connected with the Michele Peresso Group. Emanuel Peresso, the group's managing director, told The Sunday Times that the aim is to have a full independent mix of shop categories.

"We intend to have 60 per cent high street fashionwear and foot-wear, 15 per cent sports and casual wear/equipment, and a further 25 per cent general giftware, perfumery/toiletries, stationery and others."

There had been "a very positive response from potential tenants", he observed, which is why the Michele Peresso brands would enter Prime Mall after it has finalised terms with all potential tenants. "In my opinion it was a fair decision to give the opportunity to others first," he said.

The company is in the process of conducting face-to-face meetings. "This week we will start signing our first contracts; we can be in a better position to reveal all the tenants' names hopefully by mid-November.

"Things are certainly moving fast. One of the benefits for our tenants is that the lease includes us finishing the shop to a state-of-the-art environment, not normally done in other shopping centres."

The Michele Peresso Group has invited the Gozo Chamber's members to contact it if they are interested, and provided them with presentation packs. Pointing to the Gozo input, he said a well equipped, modern cafeteria and restaurant will be opened by Il-Kartell of Marsalforn, which will be situated on the left side of the main entrance from the Republic Street entrance.

The average cost per metre is Lm120 on level 0 and Lm110 on level -1. This, Mr Peresso said, is "a very advantageous rate compared with other shopping centres, considering also that the floor space includes floor tiles/parquet and glazing, etc. The minimum duration of the lease varies from six to nine years." Prime Mall will be a landmark and a meeting place for many, Mr Peresso believes. "The main advantage is that it is situated in the heart of Victoria. Parking will not be a problem. Besides a well-being centre, there will also be a spacious children's area supervised by experienced child carers as we want to honour our commitment to our new esteemed patrons that Prime Mall will be a 'stress-free shopping experience'."

The Lm2.5 million project includes a 45-space car park on the lower floors. At least 80 per cent of the work is being done by Gozitans and 50-70 workers will be employed. The well-being centre will include a large indoor heated pool and jacuzzi covering 90m2, two saunas, health and beauty services and treatments.