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

Leased MallsLevis. Vacant tenancies created from the former Yogya department store provide opportunities toconsolidate the fashion offering on this level.Level 2 is anchored by the top level of the Matahari Department Store and Toko Gunung Agung bookstore.Lifestyle retailers such as X-Treem and MG Music cater to the youth segment. A Yogya supermarketanchors the southern end of this level, but it will be replaced upon its lease expiry with additional specialtyretailers in 2008.Level 3 provides the centre’s major entertainment offering, comprising Cinema 21 (6 screens), Timezoneand a new food court, created in the former Matahari Department Store space. Other food tenancies arealso on this level.Table 4.3.3 Major Tenants as at 30 June 2007, Bandung Indah PlazaTenant Expiry date % Gross monthly rentMatahari . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-May-15 11.6%Hypermart . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-May-15 6.5%Toko Buku Gunung Agung . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23-May-11 3.9%McDonald’s. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16-May-09 2.4%Rice Bowl . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29-Jun-11 2.2%Extreme Store. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15-Sep-11 2.2%Felice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16-Mar-11 1.9%Cinema 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-Dec-15 1.6%TexasChicken ........................................ 4-Aug-13 1.4%Timezone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-May-15 1.4%Other tenants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Varies 64.9%Total Centre ......................................... 100.0%Source: Jones Lang LaSalle Research and Consulting, PT. Lippo Karawaci, TbkNote: Yogya Supermarket to be replaced with specialty retailing4.3.4 Target marketBIP targets the middle to middle-upper income market, particularly the youth market. The tenancy mix isconsidered appropriate for this target market, providing a mix of local, national and internationally brandedretailers.The centre also caters to a relatively large local workforce, being centrally located in the CBD.4.3.5 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 BIP is as follows:• BIP is the most popular centre in the portfolio with young couples, a reflection of the youthfulcharacteristics of the customer profile, especially during weekdays. Older people (30-40 years)generally visit the centre during weekends;• As with all centres in the portfolio, Saturdays and Sundays are the most popular days to visit BIP. Peakhours are between 12:00 and 16:00. Most customers spend between one and three hours in the centre;• Approximately 50% of BIP’s customers visit the centre at least once a week;• The most popular reason given for visiting BIP is sightseeing or comparison shopping. A high proportionof customers indicated they visited BIP to watch a movie;F-70