Nandini Taneja, regional director-leasing, Reach Group talks about the mall’s journey highlighting the key goals and roadmap for the future
Bengaluru: Conceptualised as a neighborhood mixed used development situated in Sector 70, Gurugram by the ReachGroup, 3Roads was created to be the go-to market for the catchment around it. Designed by Arcop Associates, the development offers an array of essential services like a co-working space, utilities, beauty and fitness centre, cafes, and grocery shop, among others. 3Roads also has an office tower, situated right above the retail centre.
Situated in a high-density residential zone and connected with all parts of Gurugram (NH8 & Subhash Chowk etc.), the centre hosts service-focused retail units to cater to the everyday needs of local communities.
Nandini Taneja, regional director-leasing, Reach Group talks about the mall’s journey highlighting the key goals and roadmap for the future.
What’s new and trending at 3Roads mall?
We have recently added brands like Zudio and Starbucks to our portfolio. Apart from that, Croma, McDonald’s Drive Thru, and kids’ play area Kids & Clap are the other key attractions. This is the third year running and the centre has stabilised itself with the right occupancy.
How has been the growth in this short journey so far?
In my professional career of 18 years, I have been part of various projects, but this project has been a benchmark for us. The journey has been a learning experience and fruitful so far. At 3Roads, we have been identifying brands that are popular in the catchment and putting them in the mall to curate the right experience for the consumer.
We have localised it to a level to ensure consumers are happy coming in. We conduct events in the form of music shows, farmers markets, movie screenings, and activities for kids that bring the audience out of their homes in large numbers. We hosted an event called Carnival based on a Brazilian theme and had almost 10,000 people attending it each day.
The mall today attracts a footfall of 14,000 people on weekends, which is a great number considering it’s a high street development.
Can you share some insights about changing consumer behaviour from a 3Roads perspective?
No matter how the development is, a market, a mall or an independent store, the only thing that must evolve and add value is experience. The customer wants the right experience to visit a place. Every corner of the centre has to offer the right experience. From the time the customer enters the development till the time s/he leaves, everything is important, be it the services, the toilets, the lifts, the common corridors, or the service areas.
Whichever retailers are present in 3Roads, we ensure that their design parameters, including shop fronts, are welcoming. It is all about giving a more vibrant and welcoming feel to the customers. This is one thing that will keep evolving over the years.
How many stores do you have right now?
We have got close to about 85 doors that are operational at the mall, covering every segment of retail. The centre has a gross leasing space of 2,50,000 sq. ft, out of which 50,000 sq. ft. is the office tower. There are banks as well, neighbourhood.
Are there any new brands in the pipeline?
There are a lot of brands that are under fitouts right now. The centre has already touched about 80% occupancy and we have limited space left.
The idea is to identify and bring brands that are performing on the independent high streets and Red Tape is one of the brands that will open a store in our mall. There are a couple of Food &Beverage (F&B) brands in the pipeline as well.
How much space is allocated to Family Entertainment Centres (FEC)?
We have allocated a carpet area of 6,000 sq. ft. and we are doing this in phases. Initially, we allotted around 4,000 sq. ft., and with the rising demand, we kept increasing the space. We have kept the size optimised for every category.
Which is the best-performing category for you at this moment?
Supermarket is doing well. Sodhi’s is doing well, and Zudio has been a revolution. Recently, they also opened the first exclusive outlet of Misbu, the value-beauty format by Trent Ltd. at 3Roads, which is doing quite well.
The F&B segment continues to do well. Apart from the dining space, the mall has bars and breweries as well, followed by space for conducting events, which gets a good response from people all over Gurugram and not just the catchment.
How has leasing in malls changed?
In the earlier days, leasing was pretty much consolidated between a few groups. Today, it is more project specific. We first identify the market and then understand what the spending power of the consumer is. If the catchment demands value, we should give them value. It is our aspiration to have a premium, bridge or a luxury center. But we must understand what the catchment demands today. There is no right formula for leasing. It is localised and customised to the catchment of a centre.
Any upcoming projects to follow?
We have another established shopping centre called Airia Mall, a joint venture by Reach Group and Lake Shore. We are also expanding into phase two of the mall, which is currently in the planning stage. We have a few more launches coming up, which are in the finalisation stage. And we should be announcing that soon.
Is it going to be in Delhi NCR?
Yes. NCR as a market has a lot of potential. Dwarka Expressway, SPR, and Sohna Road. So maybe some more developments there.
