India’s growing demographic strengths has boosted organised retail; and the industry is expanding at a rapid pace.
But the dynamics of this segment are different from that of residential properties. The success of a mall depends on factors like location, design, anchor tenants and good tenant mix. This is where Virtuous Retail stands in good stead. With specialized know-how in creating high-performance lifestyle centres, Virtuous Retail not only offers premium commercial space but complements it with intelligent tenant relationship management. It is the only institutionally owned, developer-operator of lifestyle destinations, it has a pan-India footprint.
Virtuous Retail is currently developing world-class lifestyle centres; the flagship VR Bengaluru and Arena. Virtuous Retail offers premium retail space for lease in Bengaluru, which boasts of one of India’s fastest retail growth figures. Retail therapy takes on a whole new meaning with the advent of the ritzy VR Bengaluru. This awe-inspiring structure spans 1.5 million square feet; and features over 200 luxury and super-premium retail, entertainment and F&B outlets. Located in the heart of the buzzing Whitefield, VR Bengaluru houses top-notch commercial spaces, contemporary offices and a hotel in addition to shopping. The rooftop houses a Sky Deck, a multi-activity venue that is a wellness centre by day and a leisure hub by night.
Premium retail space for rent in Mumbai is hard to come by in a city that enjoys a mature consumer market, but is bursting at the seams. The Boulevard by Virtuous Retail is located in the swanky suburb of Juhu, the only destination in an 8-kilometer radius. Boulevard offers 8, 50, 000 square feet of luxury, premium and high street shopping; with 7,00, 000 square feet for residential development. 6, 00, 000 square feet of space is earmarked to house a high-end sports club, hotel, and banquet space. These are separate blocks connected via boulevards for retail, F&B, and outdoor events.
The retail market in Kolkata is different and an interesting one. India’s third most populous city is an eclectic mix of the traditional and the modern; and is growing by leaps and bounds. In fact, the household expenditure in Kolkata was found to be INR 1,822 per person per month on average, which is much higher compared to other metros. Naturally demand for upscale retail space for rent in Kolkata is rising. Epicentre in New Town, a joint venture of Virtuous Retail, offers a whopping 2,300,000 square feet of leasable space. This ten level mixed-use lifestyle centre is set to house 7, 00,000 square feet of retail space; along with a star hotel and upmarket residences.
Like any other real estate investments, it is important that any retail real estate investment is backed by a proven track record. Virtuous Retail’s expertise includes the entire gamut of research, planning, design, development, leasing, marketing, operations, and regulatory compliance.
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