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

Leased Malls4.7.3 Tenant mixThe current extension to EP has the potential to alter the tenancy mix substantially. This analysis focuseson the existing tenancy mix of levels from Lower Ground to Level Two and provides an overview of theproposed uses for the two new upper levels.EP is one of the larger modern shopping centres in the Bogor, providing a range of both convenience andcomparison shopping.Since being acquired by its current owners in 2005, the centre has undergone a remix and re-positioning,culminating in the current extension program. This repositioning is aimed at capturing a larger share of themiddle-upper income segment.The Lower Ground level houses Matahari Marketplace, an upmarket “ranch” style supermarket that targetsthe middle-upper income households. There is a food court on this level, although this will be relocated toLevel Three. The balance of this level comprises car parks.The Ground level provides mixed fashion and accessories, food and beverage and children’sentertainment offerings. There is considerable scope for exhibition space/casual mall leasing. Thecommon mall areas are very generous and centre management indicated there is scope to moveforward existing lease lines.Upper Ground has a fashion focus. The level is anchored by the Matahari Department Store, whichextends across three levels. Karisma Bookstore is also located on this level.Similarly, specialty retailers on level 1 are primarily fashion retailers.Level 2 has a small concentration of children’s fashion, which complements Matahari’s childrendepartment. Household and electronics retailers are also featured on this level, as is Gramedia.The two new levels focus on lifestyle and entertainment. Level 3 will comprise a large food court with25 kiosks, mid to large sized restaurants, cinemas, Timezone, a range of small specialty retailers and acasual leasing area. The mezzanine level will comprise a fitness centre and a billiards centre.Table 4.7.2 Tenancy mix by level, Ekalokasari PlazaSource: Jones Lang LaSalle Research and ConsultingLevel*Formerlevel nameTenant mix(post Additions)Lower Ground. . . . . Basement 1 Marketplace Supermarket, Electronics, Household goodsGround . . . . . . . . . . Ground Fashion, Jewellery, Accessories, Beauty, Restaurants,Kids entertainmentUpper Ground . . . . First Matahari, Fashion Focus, Karisma BookstoreFirst . . . . . . . . . . . . Second Matahari, Fashion, BeautySecond. . . . . . . . . . Third Matahari, Gramedia, Kids fashion, homewaresThird. . . . . . . . . . . . NA Food Court, Cinemas, Restaurants, Timezone, Electronic storesMezzanine . . . . . . . NA Fitness Centre, Billiards, Access to Convention Centre(separate ownership)Source: Jones Lang LaSalle Research and ConsultingNote: *) New level naming has been in used starting January 2007It is considered that EP provides the most comprehensive retail mix in the Bogor, with strengths in fashion,two large bookstores and strong anchor tenants. Entertainment and lifestyle retailing will be strengthenedupon completion of the upper two levels in 2007.F-101