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By Rachel Chan
FLEXIBILITY is the name of the challenging new retail game, as Far East Organisation will tell you.
Its upcoming 14-storey, billion- dollar Orchard Central near Somerset MRT station, slated to open in the first quarter of next year, boasts innovations that allow the landlord and tenants to vary arrangements.
For starters, unlike its higher- end neighbours near Orchard Turn, Orchard Central won't feature luxury brands or major department stores as tenants - there's a mix instead. The sole 371.6-sq-m duplex unit on the third and fourth levels will be occupied by 10 to 12 individual operators.
Over 30 "ramp shops", 9.3- to 13.9-sq-m shopfronts that can be leased for as short as a year and as cheaply as $5,000 per month, replace the push-cart stalls many start-ups prefer. They are located on ramps that link shopping floors.
Instead of shutting by 10pm, Orchard Central will open from 11am to 11pm daily. Eateries that wish to open past 11pm have access to a separate air-conditioning system, allowing them to operate till 3am.
Far East's decision to allocate 35 per cent of the 23,225- sq-m mall for food and beverage is based on close industry observations: "It has been a trend for the past five years to dedicate more space to food," saidMs Susan Leng, deputy director of Far East's retail management.
Eight to 12 Palmtop-toting concierges will rove the mall, advising shoppers and tourists of leisure options that might extend as far as the Singapore Zoo.
Orchard Central is now 60 per cent leased: "In this economic situation, we'll be pretty happy if we can achieve an occupancy rate of about 80 to 85 per cent," said Ms Leng.
Be flexible, remember?
rachchan@sph.com.sg
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