Nov. 21, 2012
Terrace Mall Shonan Reports Strong Results in its First Year of Operation
On November 11, 2012, Terrace Mall Shonan, a joint project developed and operated by Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; President and CEO: Kuniharu Nakamura), Sumisho Urban Kaihatsu Co., Ltd. (Head Office: Chuo-ku, Tokyo; President and CEO: Masaaki Kokubo) with GIC Real Estate Pte Ltd (Head Office: Singapore; President: Goh Kok Huat) celebrated the first anniversary of its opening. Sumitomo Corporation and Sumisho Urban Kaihatsu are pleased to report favorable results during the first year of its operation. Specifically, sales for the period from November 11, 2011 to November 10, 2012 were approximately 50.9 billion yen, considerably exceeding the original target at 40 billion yen. The total number of visitors during the same period reached 23.7 million, which also exceeds the target at 20 million.
Terrace Mall Shonan opened as part of Shonan C-X, a large-scale urban redevelopment project organized by the local government for areas around JR Tsujido Station in Fujisawa City. As a core facility of this massive project, the retail facility has attracted a remarkable number of customers, not only residents in the surrounding neighborhoods but also visitors from out of town, over the past year. This area is steadily progressing, and expected to show further growth, with additional facilities built and planned, including a new hospital established by Tokushukai Group in October 2012 and completion of office buildings and residential complexes currently under construction. Sumitomo Corporation and Sumisho Urban Kaihatsu will work to continually develop Terrace Mall Shonan to offer an enhanced leisure and shopping experience to many more customers, seeking the region's top position in the sector, while at the same time contributing to revitalization of local communities through this project operation.
<Characteristics of visitors>
Around 70 percent of the mall visitors were from the planned trading area (within a 10-km radius) mainly in the cities of Fujisawa and Chigasaki and areas near the closest railway lines (Odawara-Ofuna-Kamakura). The remaining 30 percent were from outside the mentioned trading area, mainly from Yokohama City and Tokyo. Regarding access means, train passengers accounted for 40 percent, a higher figure than expected. This is attributable to easy access provided by the passage connecting directly from Tsujido Station. The visitor base consists of a broad range of age groups, primarily, married women in their 20s and 30s, three-generation families and young couples. Loyalty cards have been issued to a rough total of 240,000 customers as of October 31, 2012.
<Reasons for great sales>
Sales have been brisk in all categories. In the fashion-related section, sales have steadily grown for tenants ranging from fast fashion stores, multi-brand boutiques to specialty shops offering select accessories and fashion items. In the restaurant operation, the original food court, Shiokaze Kitchen, has enjoyed massive popularity since opening. Tenants providing medical, travel and activity-based services such as a fitness studio and cooking classes also attracted a number of customers, partly due to the easy access provided by direct connection from the station, which in turn helped increase visitors to other facilities on weekdays. The strategically designed plot, with the 109 Cinemas, a cinema complex and Yurindo, a book/stationery store, located at both ends of the shopping floor, aimed to facilitate visitor migration within the mall, has proved effective in encouraging customers spend longer at the mall, and visit many tenants. Shonan Village, a special zone lined with stand-alone stores, designed to evoke the traditional shopping streets of the Shonan area and also serve as a commuter route or stroll course for local residents, provides customers, particularly those living in Shonan with the opportunity to browse and shop at their leisure. Shonan Marche, the grocery section consisting of the Summit Store supermarket and other specialty shops gained substantial earnings from sales of daily items to local shoppers and also by effectively responding to demand for gift items.
<Initiatives for revitalizing local communities>
In August 2012, a community space opened on the second floor of Shonan Village, intended for use in a variety of activities and events organized for/by local residents, ranging from language classes, parenting classes, and other cultural activity sessions and exhibitions to workshops and lecture programs. In addition, Seasonal events for people living in the neighborhoods, such as a hula show during the mid-spring Golden Week holidays and a bon-odori traditional dance gathering in summer were held. We will continue to create opportunities that can enhance human interaction, thereby contributing to revitalizing local communities and winning trust from people living there.
Corporate Communications Department,