Upload
others
View
15
Download
0
Embed Size (px)
Citation preview
0Cushman & Wakefield | Bengaluru | 2019
BENGALURUCushman & Wakefield
Global Cities Retail Guide
1Cushman & Wakefield | Bengaluru | 2019
BENGALURU
OVERVIEW
Bengaluru is the capital of the state of
Karnataka, located on the south east
side of the Deccan Plateau. With an
estimated population of 13 million,
Bengaluru is India’s third most
populous city and it is demographically
diverse.
A major economic and cultural hub, Bengaluru is home to
numerous public sector organisations, heavy industries,
telecommunications and software companies, defence
organisations, aerospace companies, as well as well-recognised
colleges and research institutions.
Bengaluru is popularly known as the “Silicon Valley” of India
because of its position as the nation’s leading IT exporter. IT
firms in the city employ about 35% of India’s pool of 2.5 million IT
professionals. Currently, Bengaluru is witnessing an all-time high
demand in commercial and retail real estate. The changing
lifestyle of professionals, need for better work environment and
interests of foreign investors in the Bengaluru real estate market,
as well as its valuation in both the domestic and international
markets, have led to an increase in real estate values across the
city. Bengaluru is also one of the most preferred cities for expats
working in the country .
Bengaluru has also seen a surge in its shopping centre culture,
which has been a major attraction for fashion brands. Until a few
years back, the established retail precinct was limited to the
prominent main streets of Brigade Road, Commercial Street,
Jayanagar 4th block and Sampige Road. Over the last few years
due to spurt in the IT sector and the influx of population, main
streets like 100 ft. Indiranagar, 80 ft. Koramangala, New BEL
Road, Kamanahalli Main Road and HSR Layout 27th Main have
all emerged. Most of the new shopping centre development is
outside the CBD and in peripheral micro markets such as
Whitefield, South Eastern and the Northern corridor.
2Cushman & Wakefield | Bengaluru | 2019
BRIGADE ROAD & CHURCH STREET Formerly known as South Parade of Bengaluru, Brigade
Road now houses some of the biggest national and
international flagship stores. Ranging from apparel brands
such as Nike, One Plus, Sketchers, Adidas, Puma, Xtep
to the F&B brands such as McDonald’s, Dunkin Donuts,
Starbucks, Social, Mainland China, etc. Brigade Road is
filled with youthful charisma. With MG Road metro station
and Church Street less than 100 meters away, Brigade
Road is an easily accessible main street in Bengaluru.
BENGALURUKEY RETAIL STREETS & AREAS
JAYNAGAR 4TH BLOCK (11TH MAIN
ROAD) Another major commercial area of Bengaluru is Jaynagar
4th Block, and it is one of the first planned
neighbourhoods in the city. It is a preferred destination of
Bengaluru’s elite class. This area is home to some of the
finest national and international brands targeting the upper
classes. Its close proximity to upmarket residential areas
also supports its commercial viability and shopping habits
.
WHITEFIELDIn the late 1800s, this area was the residential settlement
for Eurasians. Whitefield has now become one of the most
prominent IT hubs in the city and is home to most of the
Fortune 500 IT organisations. Non IT companies have
also flocked here to establish their R&D headquarters and
backend operations. It has numerous tech parks, IT hubs,
star rated hotels and a fair amount of new residential
projects. Prominent shopping centres present in Whitefield
are Phoenix Market City, VR Bengaluru, Park Square
Mall, In Orbit Mall , Prestige Shantiniketan & Forum
neighbourhood mall.
COMMERCIAL STREETFor Bengaluru fashionistas, this 700-meter stretch boasts
almost every major apparel and accessory brand and has
earned a well-deserved nick name among shoppers as
“The Fashion Street“ of Bengaluru. The street offers a
wide-range of apparel and accessories, from ethnic, to
Western, to a fusion of both, all at reasonable price points.
INDIRA NAGAR 100 FEET ROADOver the last few years Indira Nagar 100 Feet Road
turned into one of the most commercially important streets
in Bengaluru. This 2 km stretch also offers fine dining
options, Microbreweries, Cafes, the well renowned CDIT
stores and a range of international clothing brands. This
road is one of the most sought after retail destinations to
establish flagship showrooms by brands across all
formats.
KORAMANGALAKormangala is the focal point for the city’s elite. Upmarket
bungalows and a variety of luxury apartment projects are
located in this area. With an elite catchment in its vicinity,
Kormangala attracts the best of brands from every
category. The Forum Mall is located in Kormangala and
commands the highest retail rental rates for any
development in the city. Koramangala is also one of the
most vibrant places for local F&B brands and formats.
3Cushman & Wakefield | Bengaluru | 2019
BENGALURUMARKET OVERVIEW
KEY AREAS/
STREETS/ SHOPPING
CENTRES
CONSUMER
PROFILE
MAJOR RETAILERS PRESENT NEW ENTRANTS AVERAGE
RENT
($/SQFT/MONTH)
RANGE OF
STANDARD
UNIT (SQFT)
Brigade Road Upper & Mid
Segment
Arrow, Allen Solly , Zodiac, Adidas, Reebok,
Nike, Woodlands, Samsung, McDonalds,
Indian terrain , Metro , Louie Phillippe
Nike, Levi’s, Pepe Jeans,
People, Raymond's, One
Plus , US Polo , Xtep ,
Miniso , Florishm ,
Sketchers
$5.0-5.3 1,200 - 3,800
Commercial Street Mid & Affordable
Segment
Max, Westside, Levi’s, Metro, Reebok, Adidas,
Raymond, World of Titan, Fasttrack, C Krishna
Chettiah, UCB, Latin Quarters, Zudio
Zudio , FBB , $5.0-5.3 500 - 3,500
Jaynagar 4th Block Upper & Mid
segment
Raymonds, Zodiac, Tanishq, Reliance Jewels,
Adidas, Sony, World of Titan, Titan eye plus,
Planet Fashion, KFC, McDonald’s,
Blackberry, Senco,
Jewelers, Planet
Fashion, Sketchers
$4.3-4.5 1,500 - 2,500
Indira Nagar 100 Feet
Road
Upper & Mid
segment
Steve Madden, Brooks Brothers , Levis, Asics,
Blackberry, Starbucks , Barbeque Nation, Toit,
Jack & Jones, Adidas, U.S.Polo, KFC, Miniso
Pantaloons, Black rabbit,
Scullers, Taneria, Ether
,Raymonds , Urban
ladder
$2.8-3.2 2,500 – 5,500
Vittal Mallya Road &
Lavelle Road
Upper & Mid
segment
UB City, Tommy, CCD Lounge, Glen’s, , Biere
Club, Smoke House Deli, Sunny’s, Ganjam ,
Lamborghini, Audi, Harley Davidson, Lexus
BMW,Starbucks
Raymonds, Sunny’s,Nika
$3.8-5.0 1,200 - 5,000
HSR Layout Upper & Mid
Segment
Soch, Cult Fitness, Arvind Store, Biba, KFC,
Mc Donald’s, Subway, Café Coffee Day,Pizza
hut , Titan , Lee
Bata, Eat Fit , Third wave $2.2-2.8 2,000 - 3,000
Kamanahalli Upper & Mid
Segment
Tanishq, Unlimited, Trends, Helios, KFC, Mc
Donald’s, Woodland, Jockey, Fastrack,
Domino’s, Kanva Mart,
Pepe Jeans, Burger King,
Starbucks , Urban Ladder
$3.0-3.7 1500 - 2500
Koramanagala Upper & Mid
Segment
KFC, Taco Bell, Croma, Tanishq, Puma, Levi’s
Nike, Joyalukkas, M&S , Sony , Starbucks,
Prost , Beer Café
Wild Craft, Kalyan
Jewellers, FBB, Third
Wave, Soch , Trenfs
$2.2-2.75 1,500 – 3,000
New BEL Road Upper & Mid
Segment
Sony Centre, Reliance Digital, Croma, Kaya
skin, Peter England, Woodland, Nike, Puma,
KFC, U S Polo, Wrangler, Arrow
Soch, Dfy, W, Scullers,
Truffles
$2.6-3.0 1,500 – 3,000
Data as of Jan 2018. 1 US$=63.63 INR
4Cushman & Wakefield | Bengaluru | 2019
ORION MALL Orion Mall is 920,000 sqft and is one of the prominent
local shopping centres housing apparel brands such as
Zara, Westside, GAP, Sephora, Allen Solly, Arrow,
Blackberry, Fab India, Flying Machine, ColorPlus, Levi's,
and Louis Philippe. The mall also offers several quick
service restaurants (QSRs) and fine dining concepts.
PHOENIX MARKET CITY Phoenix Market City is located on the ITPL main road and
offers both international and national premium brands
including Zara, Mango, Pantaloons, Toys R Us, M&S,
Nautica, Lifestyle and Hamley’s toy store. This shopping
centre also comprises of a 9 screen PVR Cinema, with a
variety of casual dining restaurants and a food court.
BENGALURUSHOPPING CENTRES
THE COLLECTION MALLThe Collection Mall, located on Vittal Mallya Road, is the
city’s luxury shopping centre measuring 88,900 sqft.
Notable retailers are Louis Vuitton, Burberry, Jimmy Choo,
Bottega Veneta, Mont Blanc, Collective and Rolex, in
addition to several fine dining restaurants.
MANTRI SQUARE MALL Mantri Square Mall is 820,000 sqft and became
operational in 2010 and is located in the same vicinity as
the Mantri Square Sampige Road Metro Station. The
metro line begins from this location extending up to
Nagasandra in the north-west of the city and Puttenahalli
in the south. The shopping centre comprises of a
departmental store, INOX multiplex movie theatre and at
least 20 F&B outlets, as well as a number of international
and national brands in apparel, accessories, electronics,
and jewellery segments.
RMZ GALLERIA MALL RMZ Galleria Mall is approx 450,000 sqft and became
operational end of 2018. Located in Yelahanka, it is
currently the only mall in North Bangalore. This mall is
positioned as a bridge to premium neighbourhoods and
hosts anchor brands including Spar , Lifestyle , Inox and
prominent brands like Tanishq, Starbucks, LP, Daniel
Wellington, Arrow, Rado and Apple, to name a few
PRESTIGE SHANTINIKETHANOpening at the end of 2019, Prestige Shanti Mall has a
total area of c.450,000 sqft and is the newest addition to
the already competitive Whitefield market. This mall is part
of a large mixed-use development and positioned as an
F&B and entertainment destination
5Cushman & Wakefield | Bengaluru | 2019
BENGALURU
NEW DEVELOPMENT
WATCH
DEVELOPMENT TO WATCH OUT FOR
Bharita City
Total Scheme Size (sqm) 90,000
- Retail GLA (sqm) 74,000
- Leisure/ Entertainment
GLA (sqm)
8,000
Planned Opening Date Q4 2019
Consumer Profile Mass-market and premium
ABOUT THE DEVELOPMENT
Expected to comprise of Cinepolis , Lifestyle , Max ,
Starbucks , Arvind & Madura brands
6Cushman & Wakefield | Bengaluru | 2019
BENGALURU
NEW DEVELOPMENT
WATCH
DEVELOPMENT TO WATCH OUT FOR
Lulu Mall
Total Scheme Size (sqm) 100,000
- Retail GLA (sqm) 85,000
- Leisure/ Entertainment
GLA (sqm)
15,000
Planned Opening Date Q1 2020
Consumer Profile Mass-market
ABOUT THE DEVELOPMENT
Expected to comprise of Cinepolis , Lulu Hyper market ,
Pantaloos, Trends
7Cushman & Wakefield | Bengaluru | 2019
Bengaluru has a young and affluent
population, which is leading to the
expansion of new restaurants and cafes
in various micro markets.
Restaurants such as Barbeque Nation have established
multiple outlets in the city and serve authentic Mughlai
and continental barbeques. Traditional Andhra cuisine
mastered by the Nagarjuna Group of Restaurants and
Talapakatti Resturants has a strong following among local
foodies. Being the “Pub City of India”, Bengaluru has
some of the best pubs and micro-breweries.
BENGALURUFOOD & BEVERAGE
Acknowledging Bengaluru’s love for food and alcohol,
renowned F&B brands such as Tuscano, Café Noir, Toit,
Windmill Craftwork, Social, Irish House, Biere Club, Olive
group, Impressario and others are establishing their
outlets in Bengaluru. Some of the prominent F&B areas in
Bengaluru are: Church Street, Indira Nagar, Kormangala,
New BEL Road, HSR Layout Sarjapura road & Whitefield
area.
KEY AREAS CONSUMER
PROFILE
FOOD & BEVERAGE OPERATORS RENT FOR 3,500
SQFT UNIT
(SQFT/ MONTH)
Church Street Mid Segment Starbuck’s, Social, Mainland China, Bheema,
Indijoes, Empire, Café Mateo, Coconut Grove, Only
Place, Eat Fit
$2.2-2.6
Indira Nagar Upper & Mid
Segment
Toit, Taco Bell, KFC, Vapor, Black Rabbit,, Smoke
House Deli, Pasta Street, Tipsy Bull, Little Italy,
Barbeque Nation Rajdhani, Talapakatti, Mainland
China ,
$ 2.8- 3.0
Kormangala Upper & Mid
Segment
Taco Bell, KFC, Mainland China, Kobe Sizzlers,
Toscano, Salt, Empire, Chianti, Gilli’s, Beer Café,
Pasta Street, Nagarjuna, Gilli’s, Third wave, Biere
Library, XOXO
$2.0-2.4
New BEL Road Affordable & Mid
Segment
KFC, McDonald’s, Pizza Hut, Subway, CCD, Dunkin
Doughnuts, Burger King, Dominos, Truffles, Corner
House, 1522,
$2.0 – 2.2
Data as of Jan 2018. 1 US$=63.63 INR
No warranty or representation, express or implied, is made to the
accuracy or completeness of the information contained herein, and the
same is submitted subject to errors, omissions, change of price, rental
or other conditions, withdrawal without notice, and to any special
listing conditions imposed by our principals.
© 2019 Cushman & Wakefield LLP. All rights reserved.
T. SRIRAM
Director, Retail Services
Cushman and Wakefield
Tel: +91 804046 5555
Mob: +91 974098 9389