Swedish fashion brand opens a shop in SOFAZ building in Moscow

Baku. 11 May. REPORT.AZ/ H&M, the international fashion brand, has rented 5,000 square meters in Gallery Actor trade center located on Tverskaya street, in the center of Moscow, acquired by the State Oil Fund of Azerbaijan (SOFAZ).

Report informs, said the press office of Cushman & Wakefield, which provides commercial management of the complex.

According to report, the H&M shop will be located on three floors of the complex.

Notably, SOFAZ CEO Shahmar Movsumov informed on this renting agreement related to Gallery Actor building in the press conference held in April: “H&M company will open a big shop in commercial part of the building in May. We have an agreement with very good terms for more than 30 years. Acquisition of this building is very successful investment for the Oil Fund”.

In late 2012, SOFAZ bought the Gallery Actor office and trade center located at the address Tveskaya Street 16, Moscow for $133 million. Metropolitan Insurance Group, which is the part of VTB Group, acted as a seller, company ALRUD as a legal consultant of State Oil Fund and Jones LaSalle as a broker in the process of purchase and sale.

The building is located in the center of Moscow. Tveskaya street is the place where famous hotels and offices, as well as numerous international brands have been concentrated. The building is located at the crossing point of Tverskaya street band Strastnoy boulevard, close to Kremlin and Red Square. The building used as a theatre in 1881, was reconstructed in 1995 with the condition of preserving historical facade. The building has 18,075 sqm of usable space. The property is rented to various financial, insurance and consulting companies, as well as luxury and moderate cost shops.