Client: Sido Muncul Group

Year: 2014-2015

KEY ISSUES ADDRESSED:

• The subject site was divided in the middle by a neighborhood street, which limits the potential ground floor area of shopping mall or hotel lobby area.
• Tough retail competition in the surrounding area.
• Expectation for the hotel and apartment to target luxury segment.

RECOMMENDATION:

• Considering that differentiation in concept and target market is crucial, in conjunction with the specific target market of Tentrem Hotel and its Apartment, the retail center could benefit from targeting higher market segments
• Identified potential target markets were socialites (various gatherings and afternoon tea), apartment residents (captive market, for daily shopping or regular leisure activities), young women (for accessories, clothes, gadget shopping), office workers (for lunch or quick shopping), young couples (on dates, dining or occasional shopping)
• Recommended trade mix were for anchor tenants (20%), specialty stores (15%), F&B (35%), big tenants (30%)
• Quality of retail flow and building finishes should meet to the expectation of the market (mall visitors), in order to cater the specific target markets (higher segment in Semarang)
• The financial projection of supporting retail center in Tentrem mixed-use development was proven to be able to generate positive net cash flow. However, the projected low rate of return indicated the need for careful planning and good negotiations (with tenants, building contractors, and vendors) throughout the development process.

IMPLEMENTATION BY CLIENT:

• Officially opened in August 2020 with the tenants opening gradually
• Tentrem Mall consists of 4 floors with 4 parking basements
• Successfully positioned itself to match the guest segment of the hotel and also the prime site location.
• Anchor & big tenants: Farmers Market, XXI, Tentrem on Ice, Timezone, Kidz Station, Miniso.
• F&B tenants: Tanamera, Kokumi, Toko Oen, Old Town White Coffee, Summer Palace, Nikusha
• Specialty tenants: Owl, Digimap, CIMB Niaga Digital Lounge, Periplus, Herbal Corner.