Private investment group Tamares is set to invest $500m (£285m) in floating shopping and leisure schemes at ports across the world.
Tamares believes the concept provides a possible solution to the problem many cities face in assembling adequate land for new schemes within city centre.
Each “Eolian Gallery” will be designed to look like a modern-day tall-ship and will be docked permanently.
The ship will provide about 23,600 sq ft of shops and 21,500 sq ft of restaurant space over five floors. There will also be spa and fitness centres.
Locations in Italy, Greece, Spain, Portugal, and China have already been identified by Tamares as potential sites for the first Eolian vessels.
The company says it is now in negotiations on several locations and plans to sign agreements with the “pioneer ports” early this year, with an aim of seeing the first gallery open in the first quarter of 2008.
Further locations will continue to be examined over the next 12 months with a view to having 10-12 Eolian galleries built in the next five years.
Poju Zabludowicz, Chairman and CEO of Tamares, said: “Our desire is to create a very distinctive consumer brand with Eolian, offering high quality shopping and eating in a uniquely attractive environment.
“We are looking at a small number of select ports we have thus far identified as having particular potential, but are interested in speaking with any port authority about our concept which sees an opportunity in their area.”
A partner will be sought to provide local advice and, if appropriate, for on-site development of the dockside land in each port where a leasing agreement is signed.
Tamares has appointed Tillberg Design, the multi-disciplinary marine architectural practice behind ships such as the QEII to design the galleries.
Cushman & Wakefield is advising and managing the letting arrangements.
References: EGi News 05/01/06
