BENGALURU - Cushman & Wakefield

0Cushman & Wakefield | Bengaluru | 2019

BENGALURUCushman & Wakefield

Global Cities Retail Guide


BENGALURU

OVERVIEW

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,

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

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.


BRIGADE ROAD & CHURCH STREET Formerly known as South Parade of Bengaluru, Brigade

Road now houses some of the biggest national and

international flagship stores. Ranging from apparel brands

such as Nike, One Plus, Sketchers, Adidas, Puma, Xtep

to the F&B brands such as McDonald’s, Dunkin Donuts,

Starbucks, Social, Mainland China, etc. Brigade Road is

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.

BENGALURUKEY RETAIL STREETS & AREAS

JAYNAGAR 4TH BLOCK (11TH MAIN

ROAD) Another major commercial area of Bengaluru is Jaynagar

4th Block, and it is one of the first planned

neighbourhoods in the city. It is a preferred destination of

Bengaluru’s elite class. This area is home to some of the

finest national and international brands targeting the upper

classes. Its close proximity to upmarket residential areas

also supports its commercial viability and shopping habits

.

WHITEFIELDIn the late 1800s, this area was the residential settlement

for Eurasians. Whitefield has now become one of the most

prominent IT hubs in the city and is home to most of the

Fortune 500 IT organisations. Non IT companies have

also flocked here to establish their R&D headquarters and

backend operations. It has numerous tech parks, IT hubs,

star rated hotels and a fair amount of new residential

projects. Prominent shopping centres present in Whitefield

are Phoenix Market City, VR Bengaluru, Park Square

Mall, In Orbit Mall , Prestige Shantiniketan & Forum

neighbourhood mall.

COMMERCIAL STREETFor Bengaluru fashionistas, this 700-meter stretch boasts

almost every major apparel and accessory brand and has

earned a well-deserved nick name among shoppers as

“The Fashion Street“ of Bengaluru. The street offers a

wide-range of apparel and accessories, from ethnic, to

Western, to a fusion of both, all at reasonable price points.

INDIRA NAGAR 100 FEET ROADOver the last few years Indira Nagar 100 Feet Road

turned into one of the most commercially important streets

in Bengaluru. This 2 km stretch also offers fine dining

options, Microbreweries, Cafes, the well renowned CDIT

stores and a range of international clothing brands. This

road is one of the most sought after retail destinations to

establish flagship showrooms by brands across all

formats.

KORAMANGALAKormangala is the focal point for the city’s elite. Upmarket

bungalows and a variety of luxury apartment projects are

located in this area. With an elite catchment in its vicinity,

Kormangala attracts the best of brands from every

category. The Forum Mall is located in Kormangala and

commands the highest retail rental rates for any

development in the city. Koramangala is also one of the

most vibrant places for local F&B brands and formats.


BENGALURUMARKET OVERVIEW

KEY AREAS/

STREETS/ SHOPPING

CENTRES

CONSUMER

PROFILE

MAJOR RETAILERS PRESENT NEW ENTRANTS AVERAGE

RENT

($/SQFT/MONTH)

RANGE OF

STANDARD

UNIT (SQFT)

Brigade Road Upper & Mid

Segment

Arrow, Allen Solly , Zodiac, Adidas, Reebok,

Nike, Woodlands, Samsung, McDonalds,

Indian terrain , Metro , Louie Phillippe

Nike, Levi’s, Pepe Jeans,

People, Raymond's, One

Plus , US Polo , Xtep ,

Miniso , Florishm ,

Sketchers

$5.0-5.3 1,200 - 3,800

Commercial Street Mid & Affordable

Segment

Max, Westside, Levi’s, Metro, Reebok, Adidas,

Raymond, World of Titan, Fasttrack, C Krishna

Chettiah, UCB, Latin Quarters, Zudio

Zudio , FBB , $5.0-5.3 500 - 3,500

Jaynagar 4th Block Upper & Mid

segment

Raymonds, Zodiac, Tanishq, Reliance Jewels,

Adidas, Sony, World of Titan, Titan eye plus,

Planet Fashion, KFC, McDonald’s,

Blackberry, Senco,

Jewelers, Planet

Fashion, Sketchers

$4.3-4.5 1,500 - 2,500

Indira Nagar 100 Feet

Road

Upper & Mid

segment

Steve Madden, Brooks Brothers , Levis, Asics,

Blackberry, Starbucks , Barbeque Nation, Toit,

Jack & Jones, Adidas, U.S.Polo, KFC, Miniso

Pantaloons, Black rabbit,

Scullers, Taneria, Ether

,Raymonds , Urban

ladder

$2.8-3.2 2,500 – 5,500

Vittal Mallya Road &

Lavelle Road

Upper & Mid

segment

UB City, Tommy, CCD Lounge, Glen’s, , Biere

Club, Smoke House Deli, Sunny’s, Ganjam ,

Lamborghini, Audi, Harley Davidson, Lexus

BMW,Starbucks

Raymonds, Sunny’s,Nika

$3.8-5.0 1,200 - 5,000

HSR Layout Upper & Mid

Segment

Soch, Cult Fitness, Arvind Store, Biba, KFC,

Mc Donald’s, Subway, Café Coffee Day,Pizza

hut , Titan , Lee

Bata, Eat Fit , Third wave $2.2-2.8 2,000 - 3,000

Kamanahalli Upper & Mid

Segment

Tanishq, Unlimited, Trends, Helios, KFC, Mc

Donald’s, Woodland, Jockey, Fastrack,

Domino’s, Kanva Mart,

Pepe Jeans, Burger King,

Starbucks , Urban Ladder

$3.0-3.7 1500 - 2500

Koramanagala Upper & Mid

Segment

KFC, Taco Bell, Croma, Tanishq, Puma, Levi’s

Nike, Joyalukkas, M&S , Sony , Starbucks,

Prost , Beer Café

Wild Craft, Kalyan

Jewellers, FBB, Third

Wave, Soch , Trenfs

$2.2-2.75 1,500 – 3,000

New BEL Road Upper & Mid

Segment

Sony Centre, Reliance Digital, Croma, Kaya

skin, Peter England, Woodland, Nike, Puma,

KFC, U S Polo, Wrangler, Arrow

Soch, Dfy, W, Scullers,

Truffles

$2.6-3.0 1,500 – 3,000

Data as of Jan 2018. 1 US$=63.63 INR


ORION MALL Orion Mall is 920,000 sqft and is one of the prominent

local shopping centres housing apparel brands such as

Zara, Westside, GAP, Sephora, Allen Solly, Arrow,

Blackberry, Fab India, Flying Machine, ColorPlus, Levi's,

and Louis Philippe. The mall also offers several quick

service restaurants (QSRs) and fine dining concepts.

PHOENIX MARKET CITY Phoenix Market City is located on the ITPL main road and

offers both international and national premium brands

including Zara, Mango, Pantaloons, Toys R Us, M&S,

Nautica, Lifestyle and Hamley’s toy store. This shopping

centre also comprises of a 9 screen PVR Cinema, with a

variety of casual dining restaurants and a food court.

BENGALURUSHOPPING CENTRES

THE COLLECTION MALLThe Collection Mall, located on Vittal Mallya Road, is the

city’s luxury shopping centre measuring 88,900 sqft.

Notable retailers are Louis Vuitton, Burberry, Jimmy Choo,

Bottega Veneta, Mont Blanc, Collective and Rolex, in

addition to several fine dining restaurants.

MANTRI SQUARE MALL Mantri Square Mall is 820,000 sqft and became

operational in 2010 and is located in the same vicinity as

the Mantri Square Sampige Road Metro Station. The

metro line begins from this location extending up to

Nagasandra in the north-west of the city and Puttenahalli

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 RMZ Galleria Mall is approx 450,000 sqft and became

operational end of 2018. Located in Yelahanka, it is

currently the only mall in North Bangalore. This mall is

positioned as a bridge to premium neighbourhoods and

hosts anchor brands including Spar , Lifestyle , Inox and

prominent brands like Tanishq, Starbucks, LP, Daniel

Wellington, Arrow, Rado and Apple, to name a few

PRESTIGE SHANTINIKETHANOpening at the end of 2019, Prestige Shanti Mall has a

total area of c.450,000 sqft and is the newest addition to

the already competitive Whitefield market. This mall is part

of a large mixed-use development and positioned as an

F&B and entertainment destination


BENGALURU

NEW DEVELOPMENT

WATCH

DEVELOPMENT TO WATCH OUT FOR

Bharita City

Total Scheme Size (sqm) 90,000

- Retail GLA (sqm) 74,000

- Leisure/ Entertainment

GLA (sqm)

8,000

Planned Opening Date Q4 2019

Consumer Profile Mass-market and premium

ABOUT THE DEVELOPMENT

Expected to comprise of Cinepolis , Lifestyle , Max ,

Starbucks , Arvind & Madura brands


BENGALURU

NEW DEVELOPMENT

WATCH

DEVELOPMENT TO WATCH OUT FOR

Lulu Mall

Total Scheme Size (sqm) 100,000

- Retail GLA (sqm) 85,000

- Leisure/ Entertainment

GLA (sqm)

15,000

Planned Opening Date Q1 2020

Consumer Profile Mass-market

ABOUT THE DEVELOPMENT

Expected to comprise of Cinepolis , Lulu Hyper market ,

Pantaloos, Trends


Bengaluru has a young and affluent

population, which is leading to the

expansion of new restaurants and cafes

in various micro markets.

Restaurants such as Barbeque Nation have established

multiple outlets in the city and serve authentic Mughlai

and continental barbeques. Traditional Andhra cuisine

mastered by the Nagarjuna Group of Restaurants and

Talapakatti Resturants has a strong following among local

foodies. Being the “Pub City of India”, Bengaluru has

some of the best pubs and micro-breweries.

BENGALURUFOOD & BEVERAGE

Acknowledging Bengaluru’s love for food and alcohol,

renowned F&B brands such as Tuscano, Café Noir, Toit,

Windmill Craftwork, Social, Irish House, Biere Club, Olive

group, Impressario and others are establishing their

outlets in Bengaluru. Some of the prominent F&B areas in

Bengaluru are: Church Street, Indira Nagar, Kormangala,

New BEL Road, HSR Layout Sarjapura road & Whitefield

area.

KEY AREAS CONSUMER

PROFILE

FOOD & BEVERAGE OPERATORS RENT FOR 3,500

SQFT UNIT

(SQFT/ MONTH)

Church Street Mid Segment Starbuck’s, Social, Mainland China, Bheema,

Indijoes, Empire, Café Mateo, Coconut Grove, Only

Place, Eat Fit

$2.2-2.6

Indira Nagar Upper & Mid

Segment

Toit, Taco Bell, KFC, Vapor, Black Rabbit,, Smoke

House Deli, Pasta Street, Tipsy Bull, Little Italy,

Barbeque Nation Rajdhani, Talapakatti, Mainland

China ,

$ 2.8- 3.0

Kormangala Upper & Mid

Segment

Taco Bell, KFC, Mainland China, Kobe Sizzlers,

Toscano, Salt, Empire, Chianti, Gilli’s, Beer Café,

Pasta Street, Nagarjuna, Gilli’s, Third wave, Biere

Library, XOXO

$2.0-2.4

New BEL Road Affordable & Mid

Segment

KFC, McDonald’s, Pizza Hut, Subway, CCD, Dunkin

Doughnuts, Burger King, Dominos, Truffles, Corner

House, 1522,

$2.0 – 2.2

Data as of Jan 2018. 1 US$=63.63 INR

No warranty or representation, express or implied, is made to the

accuracy or completeness of the information contained herein, and the

same is submitted subject to errors, omissions, change of price, rental

or other conditions, withdrawal without notice, and to any special

listing conditions imposed by our principals.

© 2019 Cushman & Wakefield LLP. All rights reserved.

T. SRIRAM

Director, Retail Services

Cushman and Wakefield

Tel: +91 804046 5555

Mob: +91 974098 9389

[email protected]

mailto:[email protected]

BENGALURU - Cushman & Wakefield

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