SHOPPING CENTRE AND ITS ROLE AS A LIFESTYLE CENTRE

Lawrence Chin

ERES from European Real Estate Society (ERES)

Abstract: Every shopping centre must have a basic identity and it serves as a basis for setting up a desirable tenant mix (Alexander et al, 1983). A good tenant mix will maximise interaction among shops and as a result, this cumulative attraction among stores will increase retail sales. Increasingly, shopping malls are not just a building for buying things, but also a place where shoppers engage in social and leisure activities. The choice of anchor tenants for a shopping centre is crucial to the success of the mall in todayís highly competitive retail market. Moreover, the type of anchor tenant selected for the centre will influence the image of the shopping centre. Having an established anchor tenant provides financial security because this tenant leases a large space for a relatively long period of time. Therefore, the owner/landlord is assured of a reasonably stable real income stream. This study aims to examine the role of shopping centres as lifestyle centres and the selection criteria for anchor tenants. It analyses a sample of shopping centres in Singapore which have been developed as lifestyle centres. Questionnaire survey is used to determine the opinions of management on the basis in selecting anchor tenants.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2006-01-01
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