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

Retail Spaces MallsTable 5.3.1: Centre details, Grand Palladium MedanCentre nameGrand Palladium MedanYear Completed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2005NLA (sq.m) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,272Car Park Spaces . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200Motor Cycle Spaces . . . . . . . . . . . . . . . . . . . . . . . . . . . 700Strata Unit Area (sq.m.) . . . . . . . . . . . . . . . . . . . . . . . 13,417*Major Tenants in the Centre . . . . . . . . . . . . . . . . . . . Hypermart, Matahari, Cineplex 21, TimezoneSource: Jones Lang LaSalle Research and Consulting* Note: The total area is based on Kiosks Sale and Purchase Binding Agreements and may not be thesame as reflected on the Strata Title Ownership Certificates that are currently being processedStrata title shop units in Grand Palladium Medan are dominated by non-branded fashion retailers targetingthe middle income segments. Due to its location in the CBD area, visitors to the centre are mainly peoplewho work in the office buildings in the surrounding area on weekdays and from people in the surroundingresidential areas on weekends.The centre currently has some vacancies on the upper levels and this may improve over time as additionalstrata units are sold and the centre becomes more established.Matahari Department StoreThe Matahari Department Store in Grand Palladium Medan is the smallest of the four Matahari stores inMedan, the other stores being located at Thamrin Plaza, Medan Fair and Medan Mall. Matahari occupies5,020 sq.m. It is not considered a full-line department store, with its range limited to fashion, beauty andaccessories. The store targets the middle to middle-upper income segment.HypermartThe Hypermart is one of only three hypermarkets in Medan with other hypermarkets being the Hypermartin Sun Plaza and Carrefour in Medan Fair. Currently, the store with the Hypermart at Sun Plaza dominatesthe Medan hypermarket segment and compete directly with other hypermarkets within the city. Futurecompetition will arrive in July 2007, with the opening of another Hypermart in the Binjai area.5.3.3 Trade area analysisBased on discussions with the store manager of Matahari and Hypermart, the PTA for Grand PalladiumMedan covers the central areas of Medan. The centre’s strategic location along a major road (Jl. KaptenMaulana Lubis) creates high exposure to passing traffic from Jalan Gatot Subroto and good access to thesurrounding population base, which includes prime residential districts.F-113