LIPPO-MAPLETREE - Lippo Malls Indonesia Retail Trust - Investor ...

Leased Mallsnumber of international fashion retailers to complement the department store and cater for middle tomiddle-upper segment visitors. High profile tenants on the upper ground level include Planet Surf,Giordano, Adidas and Da Vinci jewellery. Starbucks, Bread Talk and a number of optical retailers arealso located on the upper ground floor.The first floor mainly covers fashion, including accessories and shoes. The second level has a focus onmobile phones, electronics and computers. This level includes long lease tenants, the majority of which arealso focused on small electronics.The third level is dominated by homewares and furniture retailers, some of which are also on a long leasestructure. Duck King, a popular local restaurant, is also on the third level. Level 3A is the location of thecentre’s main food and beverage offering, including a traditional food court with small ‘hawker’ styleretailers and a restaurant precinct. The restaurant precinct includes traders with internal seating andenhanced ambience. The fifth level is the location of the centre’s cinema complex.Table 4.2.3 Tenancy mix of retail component by level, The Plaza SemanggiLevelTenant mixLower Ground Floor. . . . . . . . . . Giant (hypermarket)Ground Floor . . . . . . . . . . . . . . . Food and beverage, retail services, gifts, health and beautyUpper Ground Floor. . . . . . . . . . Centro (department store), Fitness First, fashion accessories,fashion, health and beautyFirst . . . . . . . . . . . . . . . . . . . . . Centro (department store), Fitness First, fashion, fashionaccessories, textilesSecond . . . . . . . . . . . . . . . . . . . Centro (department store), Fitness First, computers, mobilephones, electronicsThird . . . . . . . . . . . . . . . . . . . . . Homewares, FurnitureLevel 3A . . . . . . . . . . . . . . . . . . Food and beverageFifth . . . . . . . . . . . . . . . . . . . . . 21 CineplexSource: Jones Lang LaSalle Research and Consulting4.2.4 Target marketThe PS primarily targets the growing number of consumers within Greater Jakarta that fall within themiddle and middle to upper income segments. In particular, the presence of Centro, a less common butmore upmarket department store, allows the centre to uniquely cater for this market. The centre contains agood mix of well known national and international retailers and has an excellent lifestyle offering whichincludes Fitness First and 21 Cineplex. It also has a very strong food and beverage offering.Given the PS’ strategic location, the centre is a focal meeting point for a wide range of visitors in the city,with its tenant mix suitable for a broader range of customer segments. For example, long-lease tenantslocated in the mall has broaden the centre’s appeal and the food court broadly targets the local market.4.2.5 Trade area analysisTo assist with the definition of trade areas, a market research survey of visitors to the major leased mallswas undertaken in February and March 2007. A total of seven (7) centres were included in the study. Thesurveying was conducted by TNS on behalf of Jones Lang LaSalle for the purposes of this assessment.The main findings of the market research in relation to the profile of shoppers at The PS are as follows:• Visitors to The PS are relatively young (91% of those surveyed are younger than 35 years of age);• While the majority (i.e. more than 60%) nominate their ethnicity as Melayu, the centre also attracts ahigh proportion of Chinese visitors;• The survey indicated that weekend visits to The PS is only slightly higher than weekday visits, whichreflects the surrounding workforce and student population supporting pedestrian counts on weekdays;• Shopper traffic is particularly high in the early and late afternoon (between 12:00 and 15:00 and againbetween 16:00 and 19:00), which reflects the strength of lunch time trading as a result of the surroundingF-59