Bangalore retail market witnesses growth
In the last few months, the retail space in Bangalore witnessed growth with several new malls and large plots been taken over for retail space.
Now retailers have been looking to expand their operations to areas where malls are coming up expecting good deals.
Areas with lot of malls and outlets of MNC brands are witnessing increase in footfalls, hence it is a good time for retailers to set-up shops.
According to a real estate expert, most of the retailers have shrunk the average size of their stores to reduce the rental burden.
Retailers are negotiating very hard on rental values while signing any new property and have started to agree on a minimum guaranteed rental plus revenue-share lease structure.
According to some retailers, expansions are happening mainly in the new upcoming areas. Presently, retailers are looking at emerging high-streets rather than focusing on the established ones.
Today, any good property which makes financial sense are leased by the retailers easily.
Retailers who had kept the plan for expansion on hold have started exploring options in places like Basveshwar Nagar, Bellary Road, Banashankari, Yelahanka, Rajajinagar, Sahakar Nagar and Kamanahalli.
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Bangalore, Bangalore real estate market, Bannerghatta Road, Commercial real estate, Indiranagar, properties in Bangalore, Retail market
