Brent Wiltshire, retail property executive of Old Mutual Properties, commented: 'For NCH and Univermag Ukraina, we are developing an appropriate tenant mix plan and then rolling out a leasing strategy that best meets the needs to attract both international and local retailers to the 270,000-sf centre,' he said. 'In the area of facilities management, we will issue tender specifications and service level agreements for centre services, evaluate tenders to ensure the centre is managed cost-efficiently to best standards, and award contracts to be carried out in accordance with service level agreements.'

The complex, first opened as a state department store in 1966, is in Victory Square, near the main train station and within an easy walk of the local bus, tram and metro system. Old Mutual says that more than 200,000 commuters walk past the complex every day.

'The upgrading of the entire four-storey complex to meet western standards, includes modernising all of the trading areas, installing state-of-the-art escalators with convenient access to all parts of the building, improving the interior lighting and implementing substantial cosmetic repairs. A five-storey parking complex, to house an additional 700 cars, is being built and will give the complex a tremendous advantage,' said Wiltshire.