Price Waterhouse, The ChinaTown Centre, Toronto, Ontario.
Talbot Consultants International Inc. was retained by the receiver of this four-level shopping centre on behalf of The Bank of Montréal. It is the largest Chinese shopping centre in Canada and is located in the heart of Toronto's Chinatown. Our Phase I task was to carry out a detailed analysis of the centre, investigate comparable centres across Canada, develop a series of alternate retail strategies and recommend the one that would provide the maximum revenue return. Our rather unusual Phase I recommendation was that the project should be sold in individual components as a retail condominium. In Phase II we put together a detailed "action plan" including recommendations as to the re-positioning and re-merchandising of the centre and the re-designing of both the interior and the exterior. Our tasking included setting up and supervising a major consumer research component into the shopping habits of Asians. The survey was conducted mainly in Cantonese. Our responsibilities also included selecting and retaining the architects and retail designers and supervising the professional estimating required for the cost benefit analysis portion of the study. The retail condominiums have now been registered and over 75% already have been sold, many at record high prices.