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Brand L&T starts taking spotlight
Highlights
The L&T Metro Rail Hyderabad (L&TMRH) unveiled its brand identity ‘Hyderabad Next’ for Transit Oriented Development (TOD) in a bid to woo investors for the real estate development of about 18.5 million square feet across multiple locations adjoining the Metro Rail corridors.
Good response to commercial space booking
- Hyderabad Next the brand of Transit Oriented Development unveiled
- 70,000sft of retail space has been leased out
- 30 per cent of retail space leased out for stage 1&2 stations
The L&T Metro Rail Hyderabad (L&TMRH) unveiled its brand identity ‘Hyderabad Next’ for Transit Oriented Development (TOD) in a bid to woo investors for the real estate development of about 18.5 million square feet across multiple locations adjoining the Metro Rail corridors.
It plans to develop six million square feet of real estate at a cost of about Rs 2,300 crore under the first phase as part of Metro Rail project, which is expected to be commissioned in July 2017. L&T also plans to take up development of 12.5 million square feet of space over the next ten years. This may require more than Rs 5,000 crore.
"We will raise this money from our internal accruals or borrowings," LTMRHL chief executive and managing director VB Gadgil told reporters. Dominos, Politos, Medplus and Amul are amongst the brands which have already booked the space. State Bank of India (SBI) will have one ATM at each station while Bank of Baroda and Corporation Bank will have their ATMs at 20 stations each.
Two brochures were unveiled on Wednesday on TOD and station retail. The entire opportunity of 18.5 million sft of Hyderabad Next will be developed in a phased manner in sync with the market requirements over the next 8-10 years, across about 20 locations in different micro markets of Hyderabad.
Development of about 1.1 million sft of high quality retail and office space is underway in the first phase across three locations, to be commissioned in 2016. “About 70,000 sft of station retail space has been concluded even before its commissioning. It is unprecedented in any of the transit media retail business across the globe,” informed Gadgil.
“The Metro Rail would be completed first and the TOD would take place over a period of 10-15 years. About 1.5 million sft would be ready by December for soft launch,” he added. Out of the 18.5 million sft, 12.5 million sft would be developed at terminal depot locations and 6 million in stations. 70 per cent of the land would be used for metro rail maintenance and 30 per cent for TOD at depots.
What’s in store
Commuter facilities:
Retail: Daily, daily needs & accessory stores
F&B: All types of eateries
Total number of Stations: 64
Type of stations:
Typical Stations: 55
Interchange Stations: 03 (Ameerpet, MGBS & Parade Grounds)
Special Stations: 04 (Hitec City, Punjagutta, Raidurg & Begumpet)
Retail space of about 0.45millionsft on all 64 stations.
Station Retail in nutshell:
Typical station has retail space ranging from 2,500sft to 9,000sft at two different locations at a concourse level:
1.Station retail box: Stores sizes ranging from 100sft to 350sft
2.Entry Exit Retail Area: Store sizes ranging from 1,000sft to 2,500sft
Inter-change and special stations have retail spaces ranging from 10,000sft to 40,000sft with store sizes ranging from 1,500sft to any maximum possible size.
Current Status of:
70,000sft of retail space has been leased out as on today.
30 per cent of retail space (vanilla stores) has been leased out for stage 1&2 stations.
Some of the important brands who have signed are Dominos, Politos, Medplus, Amul, etc
SBI ATMs (one on each stations) on all the stations.
Bank of Baroda & Corporation Bank will have ATMs in 20 stations.
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