22 Nov 06
Mall banks on new sports wing to boost
business
Novena Square's extension opens
tomorrow, with aim to draw not only sports fanatics
By Ho Ai Li
NOVENA Square officially opens its $22 million Velocity wing
tomorrow, billing itself as the island's first sports and 'active
lifestyle' mall.
The anchor tenant in the three-storey extension, which took 16
months to complete, is a two-floor California Fitness Jackie Chan
Sport centre, the second in Singapore.
The large, 25,800sqft fitness centre already has 46 neighbours,
including Fila, Nike, the Lonsdale boxing gear store and Lorna Jane
women's fitnesswear shop.
Other tenants include Flash & Splash, Billabong, and food and
beverage outlets Mos Burger, Harry's Bar, TCC and
Haagen-Dazs.
The renovations have come with higher rents, though.
Rates throughout the mall have increased from an average of $8.60
to $11.20 per sq ft - similar to the rents charged at suburban
malls like Tampines Mall and Junction 8 in Bishan.
Although rates are still about 36 per cent lower than prime retail
spots in Orchard Road, the hike has proven too much for some.
Women's fashion shops Yen and Qoo. G, for instance, have not
renewed their leases.
But others are expecting better business to offset the higher
rents.
Ms Lau Chuen Wei, executive director of the Singapore Retailers
Association, said: 'As long as there are higher returns, I think
tenants will be very happy.
'With the addition of a gym and other eateries, the mall is
positioning itself as a holistic shopping experience, like an
upmarket Queensway for families.'
Mr Ben Soh, 42, who already operates Sports Elements on the second
floor of Novena's original building, is opening a beach wear shop
in Velocity.
The Novena area, he believes, has potential.
'There are more people living around here, now that there are a lot
of new condos. I think there's more buying power.'
Mr Walter Tan, 43, is also counting on a good run for his two
stores, Running Lab and Outdoor Life.
The active triathlete started the first Running Lab store at the
Funan IT mall last year and hopes Velocity's niche marketing
tactics will be a magnet for sports buffs.
Indeed, mall managers are already planning football games, dance
competitions and other fitness-related contests.
For Christmas, it plans to build a temporary indoor ice-skating
rink, where it will run ice-skating classes and demonstrations of
the Winter Olympic sport of curling.
ADDITIONAL REPORTING BY YEN FENG
[email protected]
RETAIL THERAPY FOR ENTIRE FAMILY
'With the addition of a gym and other eateries, the mall is
positioning itself as a holistic shopping experience."
MS LAU CHUEN WEI, executive director of the Singapore Retailers
Association
Copyright © 2006 Singapore Press Holdings. All rights
reserved.
i actually posted the pics in crapbox liao. 
