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BENGALURU Cushman & Wakefield Global Cities Retail Guide BENGALURU Cushman & Wakefield Global Cities Retail Guide Cushman & Wakefield | Bengaluru | 2019 0 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, BENGALURU 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 OVERVIEW 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. Cushman & Wakefield | Bengaluru | 2019 1 BENGALURU KEY RETAIL STREETS & AREAS BRIGADE ROAD & CHURCH STREET COMMERCIAL STREET Formerly known as South Parade of Bengaluru, Brigade For Bengaluru fashionistas, this 700-meter stretch boasts Road now houses some of the biggest national and almost every major apparel and accessory brand and has international flagship stores. Ranging from apparel brands earned a well-deserved nick name among shoppers as such as Nike, One Plus, Sketchers, Adidas, Puma, Xtep “The Fashion Street“ of Bengaluru. The street offers a to the F&B brands such as McDonald’s, Dunkin Donuts, wide-range of apparel and accessories, from ethnic, to Starbucks, Social, Mainland China, etc. Brigade Road is Western, to a fusion of both, all at reasonable price points. 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. WHITEFIELD In the late 1800s, this area was the residential settlement for Eurasians. Whitefield has now become one of the most JAYNAGAR 4TH BLOCK (11TH MAIN prominent IT hubs in the city and is home to most of the ROAD) Fortune 500 IT organisations. Non IT companies have Another major commercial area of Bengaluru is Jaynagar also flocked here to establish their R&D headquarters and 4th Block, and it is one of the first planned backend operations. It has numerous tech parks, IT hubs, neighbourhoods in the city. It is a preferred destination of star rated hotels and a fair amount of new residential Bengaluru’s elite class. This area is home to some of the projects. Prominent shopping centres present in Whitefield finest national and international brands targeting the upper are Phoenix Market City, VR Bengaluru, Park Square classes. Its close proximity to upmarket residential areas Mall, In Orbit Mall , Prestige Shantiniketan & Forum also supports its commercial viability and shopping habits neighbourhood mall. INDIRA NAGAR 100 FEET ROAD KORAMANGALA Kormangala is the focal point for the city’s elite. Upmarket Over the last few years Indira Nagar 100 Feet Road bungalows and a variety of luxury apartment projects are turned into one of the most commercially important streets located in this area. With an elite catchment in its vicinity, in Bengaluru. This 2 km stretch also offers fine dining Kormangala attracts the best of brands from every options, Microbreweries, Cafes, the well renowned CDIT category. The Forum Mall is located in Kormangala and stores and a range of international clothing brands. This commands the highest retail rental rates for any road is one of the most sought after retail destinations to development in the city. Koramangala is also one of the establish flagship showrooms by brands across all most vibrant places for local F&B brands and formats. formats. Cushman & Wakefield | Bengaluru | 2019 2 BENGALURU MARKET OVERVIEW KEY AREAS/ CONSUMER MAJOR RETAILERS PRESENT NEW ENTRANTS AVERAGE RANGE OF STREETS/ SHOPPING PROFILE RENT STANDARD CENTRES ($/SQFT/MONTH) UNIT (SQFT) Brigade Road Upper & Mid Arrow, Allen Solly , Zodiac, Adidas, Reebok, Nike, Levi’s, Pepe Jeans, $5.0-5.3 1,200 - 3,800 Segment Nike, Woodlands, Samsung, McDonalds, People, Raymond's, One Indian terrain , Metro , Louie Phillippe Plus , US Polo , Xtep , Miniso , Florishm , Sketchers Commercial Street Mid & Affordable Max, Westside, Levi’s, Metro, Reebok, Adidas, Zudio , FBB , $5.0-5.3 500 - 3,500 Segment Raymond, World of Titan, Fasttrack, C Krishna Chettiah, UCB, Latin Quarters, Zudio Jaynagar 4th Block Upper & Mid Raymonds, Zodiac, Tanishq, Reliance Jewels, Blackberry, Senco, $4.3-4.5 1,500 - 2,500 segment Adidas, Sony, World of Titan, Titan eye plus, Jewelers, Planet Planet Fashion, KFC, McDonald’s, Fashion, Sketchers Indira Nagar 100 Feet Upper & Mid Steve Madden, Brooks Brothers , Levis, Asics, Pantaloons, Black rabbit, $2.8-3.2 2,500 – 5,500 Road segment Blackberry, Starbucks , Barbeque Nation, Toit, Scullers, Taneria, Ether Jack & Jones, Adidas, U.S.Polo, KFC, Miniso ,Raymonds , Urban ladder Vittal Mallya Road & Upper & Mid UB City, Tommy, CCD Lounge, Glen’s, , Biere BMW,Starbucks $3.8-5.0 1,200 - 5,000 Lavelle Road segment Club, Smoke House Deli, Sunny’s, Ganjam , Raymonds, Sunny’s,Nika Lamborghini, Audi, Harley Davidson, Lexus HSR Layout Upper & Mid Soch, Cult Fitness, Arvind Store, Biba, KFC, Bata, Eat Fit , Third wave $2.2-2.8 2,000 - 3,000 Segment Mc Donald’s, Subway, Café Coffee Day,Pizza hut , Titan , Lee Kamanahalli Upper & Mid Tanishq, Unlimited, Trends, Helios, KFC, Mc Domino’s, Kanva Mart, $3.0-3.7 1500 - 2500 Segment Donald’s, Woodland, Jockey, Fastrack, Pepe Jeans, Burger King, Starbucks , Urban Ladder Koramanagala Upper & Mid KFC, Taco Bell, Croma, Tanishq, Puma, Levi’s Wild Craft, Kalyan $2.2-2.75 1,500 – 3,000 Segment Nike, Joyalukkas, M&S , Sony , Starbucks, Jewellers, FBB, Third Prost , Beer Café Wave, Soch , Trenfs New BEL Road Upper & Mid Sony Centre, Reliance Digital, Croma, Kaya Soch, Dfy, W, Scullers, $2.6-3.0 1,500 – 3,000 Segment skin, Peter England, Woodland, Nike, Puma, Truffles KFC, U S Polo, Wrangler, Arrow Data as of Jan 2018. 1 US$=63.63 INR Cushman & Wakefield | Bengaluru | 2019 3 BENGALURU SHOPPING CENTRES PHOENIX MARKET CITY ORION MALL Phoenix Market City is located on the ITPL main road and Orion Mall is 920,000 sqft and is one of the prominent offers both international and national premium brands local shopping centres housing apparel brands such as including Zara, Mango, Pantaloons, Toys R Us, M&S, Zara, Westside, GAP, Sephora, Allen Solly, Arrow, Nautica, Lifestyle and Hamley’s toy store. This shopping Blackberry, Fab India, Flying Machine, ColorPlus, Levi's, centre also comprises of a 9 screen PVR Cinema, with a and Louis Philippe. The mall also offers several quick variety of casual dining restaurants and a food court. service restaurants (QSRs) and fine dining concepts. MANTRI SQUARE MALL THE COLLECTION MALL Mantri Square Mall is 820,000 sqft and became The Collection Mall, located on Vittal Mallya Road, is the operational in 2010 and is located in the same vicinity as city’s luxury shopping centre measuring 88,900 sqft. the Mantri Square Sampige Road Metro Station. The Notable retailers are Louis Vuitton, Burberry, Jimmy Choo, metro line begins from this location extending up to Bottega Veneta, Mont Blanc, Collective and Rolex, in Nagasandra in the north-west of the city and Puttenahalli addition to several fine dining restaurants. 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 PRESTIGE SHANTINIKETHAN RMZ Galleria Mall is approx 450,000 sqft and became Opening at the end of 2019, Prestige Shanti Mall has a operational end of 2018. Located in Yelahanka, it is total area of c.450,000 sqft and is the newest addition to currently the only mall in North Bangalore. This mall is the already competitive Whitefield market. This mall is part positioned as a bridge to premium neighbourhoods and of a large mixed-use development and positioned as an hosts anchor brands including Spar , Lifestyle , Inox and F&B and entertainment destination prominent brands like Tanishq, Starbucks, LP, Daniel Wellington, Arrow, Rado and Apple, to name a few Cushman & Wakefield | Bengaluru | 2019 4 DEVELOPMENT TO WATCH OUT FOR Bharita City Total Scheme Size (sqm) 90,000 - Retail GLA (sqm) 74,000 - Leisure/ Entertainment 8,000 GLA (sqm) Planned Opening Date Q4 2019
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