Pune Airport set to get retail, co-working centre

Pune Airport is all set to get a first-of-its-kind retail and co-working centre. The 208,000 sq ft AeroMall is slated for launch on October 15.

AeroMall has been developed by Pebbles Infra-Tech, while Anarock has designed the complex, managed its development and its tenant mix. Mayank Sharan, director, Anarock Retail, said the new Pune Airport retail and co-working complex was being carried out under the PPP model with the Airports Authority of India (AAI), with development being carried out exclusively by Pebbles Infra-Tech.

Pune Airport is a civil enclave operated by the AAI alongside the Lohegaon Air Force Station. The airport handled 8 million passengers even during the pandemic year of 2020. The airport’s new integrated terminal building, which has so far cost over Rs 475 crore, will be capable of processing 2,300 passengers even at peak hours.

As an independent development, AeroMall is unique because it eliminates the usual restrictions of airport retail and gave retailers a full-fledged shopping mall environment. “What makes this mixed-use complex at Pune Airport unique is that it will serve passengers and is also an independent retail and co-working destination,” Sunil Nahar, director, Pebbles Infra-Tech, said. Pebbles Infra-Tech is in talks to finalise a co-working operator to run the centre beginning mid-October.    

“The addition of co-working spaces in the commercial office spaces responds to a very contemporary need. Co-working gained prominence during the pandemic, but its inclusion in the complex is also a function of the location profile. Remote/hybrid working air travelers are an obvious customer source but these high-end co-working spaces will also be a major draw for working professionals from areas like Viman Nagar, Tingre Nagar, Dhanori and Wagholi,” Nahar said.

Anarock Retail, the retail services wing of property consultancy Anarock Group, expects to complete leasing out Pune Airport’s standalone mixed-use centre encompassing shopping, office, co-working, a food court and a multi-level car park by the end of Q3 of 2022. The total leasable area of the retail spaces is 130,000 sq ft with the entire third floor measuring 65,000 sq ft dedicated to co-working spaces, catering to around 2,000 working professionals at a time.

The retail spaces will target tenants such as high-end electronics, apparel and F&B outlets.

“Some of the brands already confirmed to take up space are Croma, McDonald’s, Starbucks, Spykar, Zudio and the cosmetics retailer Sugar,” Sharan said. Discussions were also on with other anchors like Decathlon.

The post-pandemic revival in air travel has brought airport retail back to centre-stage. According to Anarock, airport retail had a relatively higher ROI compared to other locations.