Hardcastle & Waud Kalyan Town Centre, Mumbai, India
Talbot Consultants was retained by Hardcastle & Waud, who are a manufacturing company that also owns the McDonalds franchise for Western India, to advise them as to the feasibility of developing an obsolete factory site in downtown Kalyan into a mixed-use development anchored by a major shopping centre. The project proceeded by way of a series of workshops held in Mumbai. Our first challenge was that demographic data for the Kalyan trade area was either non-existent or extremely out of date. In particular there was little or no data on the A & B demographic segments (i.e. the consuming classes) which are vital to the success of any shopping centre in India. As a result we retained AC Neilsen to conduct a 1,000 person door-to-door survey of the consuming classes in Kalyan and the neighbouring communities. Our second challenge was that the mapping available for the trade area was also deficient. As a result we utilised our in-house satellite photography databases to create accurate mapping. We were then able to utilise our in-house Geographic Information System (GIS) in order to map the demographic data gathered by AC Neilsen and thus conduct our leading-edge analytical techniques to accurately determine existing and future supply and demand and thus quantify the positioning, merchandising mix and sizing for the Kalyan Town Centre. Subsequently we assisted the clients in developing a leasing and financing presentation. Our recommendations are currently being implemented and since the proposed development can be shown to be based on a professionally conducted “arms-length” due-diligence study, lease-up and financing are both proceeding on schedule.