Savills Hellas has been instructed from MALCO HELLAS to conduct a feasibility study of a new proposed commercial development in Gomosto area, close to Patras in Peloponnese. The development would comprise GLA of 50,000 sqm in a land plot of c.277 stremma (68.5 acres).

The ultimate outcome of this study was to assess the viability of the proposed development. This assessment was accomplished through the achievement of a number of key objectives, such as the establishment of the catchment areas, the collection of appropriate market data through inspections, the analysis of all the collected data by using a sophisticated in-house model and, finally, the proposal of development’s size, mixture of uses/tenants and expected economic results.

For the purposes of the feasibility study, Savills made an extensive research by visiting the most important cities (in terms of commercial activity) of West Greece Periphery, namely Patras, Pyrgos, Aegio, Nafpaktos and Messolonghi. The majority of local tenants were recorded in terms of location, size and type/sector in order to analyse each local market independently. Additionally, the supply and demand levels, market values/rents and trends in each market were recorded during our inspections but also from meetings and discussions with local stakeholders (agents, developers, engineers etc.).