Naiknavare Developers forays into retail segment

City-based Naiknavare Developers Pvt Ltd,which is into real estate,has entered the retail segment.

City-based Naiknavare Developers Pvt Ltd,which is into real estate,has entered the retail segment. It will develop and offer retail space on lease for small and mid-size retailers under its new concept,Town Square Shopping Centre.

These centres are designed,leased,managed and marketed for the community,catering to their day-to-day needs,as distinct from offering high-end,branded,luxury merchandise for a small section of the market. We will provide a balanced mix of retail with a focus on the community and our centres will house local retailers,service providers and food operations, said Hemant Naiknavare,director,Naiknavare Developers.

Michael Lloyd,the companys retail development consultant on Town Square Shopping Centre, said,Grass roots retailers will be offered space in modern shopping centres. The centres will offer a unique opportunity for local retailers to grow and gain more confidence to expand,he said.

According to a release,under this concept,retailers would be aware of the fact that their capital is not at risk. The leasing patterns offered are flexible and will allow the customer to exit without having to meet onerous mortgage payments,as he may with a retail premises purchase if it does not work for him. If a retailer wants to leave; he may on sell the lease to an incoming retailer. The first project under this concept is being developed at Viman Nagar on the new air-port road (VIP Road),the release said.

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