Tag: Project Head

Business World, News

Strong demand for high streets in Tier I and II cities

May 21, 2021 by Rekha Nair 0 Comments #Project Head, #Sagar Saxena, #Spectrum Metro

National | The Indian retail market has evolved from Weekly Bazaars’ to the sophisticated high street. As a result, multinational brands have begun to enter the Indian market to expand in the future.

Changing lifestyles, increasing urbanization, and allowing 100 per cent FDI in retail, among other things, are driving the rise of India’s high street. The rise has also been attributed to increased investor interest in the region. With fewer open spaces in the city, high streets are increasingly being used as a meeting point for friends and family to meet, greet, and have fun.

According to a CBRE report, high-street marketplaces are home to more than 60% of eateries in Delhi-NCR, Mumbai, and Bengaluru. Due to the increased demand, developers are providing customers with a diverse selection of high streets. “One of the most important criteria that determine high street’s success is the location. High visibility and road access are two of the most critical requirements for a high street,” says Sagar Saxena, Project Head, Spectrum Metro.

High streets are preferred over malls because they provide better rental returns, so retailers are putting money into high streets. Mall rentals contain add-ons like Common Area Maintenance fees, parking fees, and other fees, making food a pricey proposition. “There are various touchpoints in malls such as elevators, parking, and other shared areas. However, single entry shops on high streets allow retailers to take an independent call on hygienic protocols such as hand sanitization, temperature checks, and visitor registration while at the same time limiting the touchpoints,” says Sagar Saxena.

Mall decision-making frequently necessitates the collaboration of multiple retailers to implement any policy; this can lead to a lengthy decision-making process. “Strata ownership on high streets allows for one-on-one relationships between owners and tenants, which facilitates negotiations and allows for quicker decisions,” adds Sagar.

Customers prefer high streets to malls because the former saves them time and money. Consumers are no longer looking for the movie-shopping-dining-out experience, preferring instead to shop at retail outlets for their essential purchases. High streets enable this option smoothly. In addition, in high streets, the brand experience, and the store experience, can be better tapped. “The demand for high streets is good in Tier I and II cities. The NCR’s Noida and Ghaziabad have become a high-street retail hotspot, with many developers constructing projects there. The rising demand is due to the region’s excellent connectivity and infrastructure. The Eastern Peripheral Expressway, in addition to the metro rail network, connects the areas to major highways,” says Saxena.

Business World, News

Spectrum Metro hosts 2 day Downtown Franchise Show with 1000+ investors

Mar 9, 2021 by Rekha Nair 0 Comments #Mr. Sagar Saxena, #Project Head, #Spectrum Metro

Spectrum Metro, upcoming futuristic retail project in Sector75, Noida hosted a 2 day Franchisor-Investor Meet in their lower ground floor area. The event was attended by around 1000+ investors and 150+ franchisors from reputed retail, food and lifestyle brands like Biba, Reliance Trends, Max Fashion Store, Vagad Khadi, Karim, Coffee Point, ColorBar etc. The purpose of the event was to bring franchise partners and investors under one roof to invite investment and interest for the project of Spectrum Metro.

The Meet was followed by a Talk show which had eminent personalities from retail industry like Mr. Vivek Sharma, Max Fashion Store, Mr.Sourabh Singhal, Food Forum of India , Mr.Mahendra Bhadouria, Biba , Mr. Gaurav Marya, Franchise India, Mr. Jay Yadav, New U, Mr. Aaradhya Khanna, Gem Selections and Mr. Manoj Ray, Promoter, Spectrum Mall discussing the innovations, new standards in retail outlook and the changing paradigm of business.

3,00,000 sq.ft of area has already been leased out in the project which comprises of around 150+ shops by anchor brands like Max, Haldiram, Reliance Trends & Digital, DIY, Looks, Sagar Ratna, Nazeer Foods, Jockey, Himalaya Opticals It recently became the only commercial project in Noida to get its registry, for the 6 lakh sq.ft of ready commercial space. This franchisor –investor meet was hosted to accelerate the process to lease out remaining 3 lac sq. ft of commercial space

Mr. Sagar Saxena, Project Head, Spectrum Metro elaborating upon the scope of high street commercial projects in future said, “High streets are evolving as places where people meet, greet, and have fun as space becomes scarce. In terms of the concept’s acceptability, investors are showing an interest in it, owing to the interest of international brands in the concept. Customers prefer shopping on the high street because they have a great retail experience here. In Tier 1 and 2 towns, there is a lot of demand. Because of better connectivity via metro rail, an excellent road network, and a booming residential sector, Noida is quickly becoming the hub of high streets,”

Business World

Investment upsurge in NCR Commercial segment

Mar 2, 2021 by Neel Achary 0 Comments #Mr. Sagar Saxena, #Project Head, #Spectrum Metro

By Mr. Sagar Saxena, Project Head, Spectrum Metro

The commercial segment has been the need for economic growth and development, and will remain so in coming years as well. The time of lockdown witnessed this sector got hit badly as no commercial activity was taking place. However, this sector, including retail, is recovering faster as people get back to work to keep the wheel of fortune rolling. The sale of commercial properties during the lockdown was an indication that investors and buyers realize the crucial part this sector plays in the well-being of people and the country.

At present, the commercial segment is staring at the increased investment by the NRIs in the present situation arising out of COVID 19. The investment opportunities for the NRIs are now much more flexible because of the depreciation of the rupee. The investors with a knack to invest in real estate diverted their attention towards commercial real estate because it gives them better yield and appreciation; this is why commercial realty attracted the maximum private equity investments in the previous year, totalling nearly USD 3 billion in the first three quarters. Commercial realty includes industrial, retail, and frontier segments such as co-living, will continue to do well because of the good returns in the short and long-term.

A relatively new concept in the commercial segment, which foresees a bright future, is High Street. When everyone is inclined towards the mall concept, the high street brings with itself the old-world charm wrapped in novelty for people’s convenience. The intention is to get the concept that the people already were aware of and grew up seeing. Both high street retail and shopping malls have their utilities and set of dedicated patrons. Elevating urbanization has led to the growth of high street retail. With constraining spaces, high streets are emerging as the places where people meet, greet, and have fun. Looking at the acceptability and popularity of the concept, investors too are showing interest towards it, resulting from foreign brands’ interest in this concept. High streets are considered better than malls as they yield a better rental income and returns. Customers prefer the high street as they get a better brand and in-store experience. The demand is high in Tier 1 and 2 cities. In fact, Noida is becoming the hub of high streets because of better connectivity through metro rail, an excellent road network, and a vibrant residential market.

The segment has been performing exceedingly well riding on the innovative investment options it has come out with. One such option is the investment in pre-leased properties, which is turning out to be a popular form in Noida as the buyer is assured of a settled ROI. The property owners have the advantage of earning a pre-settled rental income and the capital gain on the property that is purchased. Today, both foreign and national investors, UHNIs and HNIs, actively invest in this asset. The most important aspect of investing in commercial property is the location assessment. The proximity to the metro and residential projects promises immense success.