British investor to build eight retail centers in Bulgaria
John Cutts, the founder of Parkridge, is continuing his expansion into East Europe, according to the Financial Times.
Parkridge has expanded in Poland with seven retail centres erected in Warsaw and the same strategy will be followed in Bulgaria, where eight commercial centres are planned to be opened.
Cutts’ strategy is to focus on smaller cities, with a population of 100 000 to 200 000 people, where competition for retail space is limited.
As well as Bulgaria the company has also expressed interest in Russia and Romania, where it will concentrate on industrial space.
John Cutts ranked 229 in the UK’s rich list. He owns 40 per cent of Parkridge and has a personal fortune of 320 million pounds. Despite this, he is quite unknown outside the industrial and retail sector.
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