Komalkurne1100
Uploaded on Feb 23, 2021
Thinking about buying or renting a Mumbai retail property for your high end shop or showroom? Per square foot, Mumbai retail property prices to buy and lease are far more expensive than Mumbai office space or residential space. This is especially true in Mumbai’s higher end retail companies that necessitate being in the best & most affluent areas. The two most expensive areas are Colaba and Breach Candy. Colaba rates to Buy Retail space per sq ft: 1,00,000 Colaba rates to Lease Retail space per sq ft: 1,000 Breach Candy rates to Buy Retail space per sq ft: 60,000-80,000 Breach Candy rates to Lease Retail space per sq ft: 400-800 For instance, let’s look at Colaba, Mumbai. If a high end retail brand wanted to lease a small 500 square foot retail property, the price would be 5,00,000 Indian Rupees per month. If they wanted to lease a small-medium sized 1,500 square foot store, the price would be 2.5M Indian Rupees per month while a larger Colaba retail property of 4,000 square feet would cost 4M Indian Rupees! There is no doubt that it is expensive! When taking into account the pricey retail real estate in Colaba, many of these companies do not reach the monthly sales that would justify the astronomical monthly rent. So why do these high end brand retail companies lease Mumbai’s most expensive retail space? The answer lies in marketing and brand building. This of course is not just in Mumbai, but it’s around the world. High end brands need to be in the most expensive areas to maintain or build their image as a high end brand; it’s that simple. It’s also far more cost effective than the exorbitant price a company could pay for other modes of brand building. Let’s take a look at Asia’s largest billboard at ROB flyover in Bandra, Mumbai which costs one crore (10M) Indian Rupees for one month. That’s right 10M rupees per month! So why not build your brand and advertise by leasing a shop or showroom in the most expensive area in Mumbai for a fraction of the cost and also make back some of the money you spent by selling your products!? Using the above example, a high end brand could lease a 4,000 carpet shop for 2.5 months or a small shop 500 carpet shop for 20 months versus the cost of renting an expensive billboard. The bottom line, is that even though it is expensive to lease or buy high end Mumbai retail space, it is well worth the price – and less expensive than billboards for effective brand building. In actuality, the store’s frontage is a billboard while providing immediate access to daily consumer traffic. As it turns out, Mumbai retail real estate prices aren’t too expensive. Last month, Spanish fashion chain Zara picked up a massive 50,000 sq ft carpet space just north of Colaba for 2.5 crore a month ($371,000 USD). We think it’s a brilliant move by Zara.
Dumb ZARA We Think it’s a Brilliant Move
Dumb ZARA? We
Think it’s a Brilliant
Move
Thinking about buying or renting a Mumbai retail
property for your high end shop or showroom?
Per square foot, Mumbai retail property prices to buy and lease
are far more expensive than Mumbai office space or residential
space. This is especially true in Mumbai’s higher end retail
companies that necessitate being in the best & most affluent
areas. The two most expensive areas are Colaba and Breach
Candy.
Colaba rates to Buy Retail space per sq ft: 1,00,000
Colaba rates to Lease Retail space per sq ft: 1,000
Breach Candy rates to Buy Retail space per sq ft: 60,000-
80,000
Breach Candy rates to Lease Retail space per sq ft: 400-
800
For instance, let’s look at Colaba, Mumbai. If a high end
retail brand wanted to lease a small 500 square foot
retail property, the price would be 5,00,000 Indian
Rupees per month. If they wanted to lease a small-
medium sized 1,500 square foot store, the price would
be 2.5M Indian Rupees per month while a larger Colaba
retail property of 4,000 square feet would cost 4M Indian
Rupees!
There is no doubt that it is expensive! When taking into
account the pricey retail real estate in Colaba, many of
these companies do not reach the monthly sales that
would justify the astronomical monthly rent. So why do
these high end brand retail companies lease Mumbai’s
most expensive retail space?
The answer lies in marketing and brand building. This of course
is not just in Mumbai, but it’s around the world. High end brands
need to be in the most expensive areas to maintain or build
their image as a high end brand; it’s that simple. It’s also far
more cost effective than the exorbitant price a company could
pay for other modes of brand building.
Let’s take a look at Asia’s largest billboard at ROB flyover in
Bandra, Mumbai which costs one crore (10M) Indian Rupees for
one month. That’s right 10M rupees per month! So why not
build your brand and advertise by leasing a shop or showroom
in the most expensive area in Mumbai for a fraction of the cost
and also make back some of the money you spent by selling
your products!? Using the above example, a high end brand
could lease a 4,000 carpet shop for 2.5 months or a small shop
500 carpet shop for 20 months versus the cost of renting an
expensive billboard.
The bottom line, is that even though it is expensive to
lease or buy high end Mumbai retail space, it is well
worth the price – and less expensive than billboards for
effective brand building. In actuality, the store’s
frontage is a billboard while providing immediate
access to daily consumer traffic.
As it turns out, Mumbai retail real estate prices aren’t
too expensive. Last month, Spanish fashion chain Zara
picked up a massive 50,000 sq ft carpet space just
north of Colaba for 2.5 crore a month ($371,000 USD).
We think it’s a brilliant move by Zara.
Mumbai Retail Spaces to Rent
Mumbai Retail Spaces to Sale
Thankyou.
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