Film and Music
Submitted By cherylleochris
Tanglin Mall has some good leasing techniques such as focusing on its anchor tenant. The anchor tenant of Tanglin Mall is ‘iwannagohome’ which occupied the entire first two levels of the mall. This has aided in enhancing its reputation and value of the property, which can attract more customers to patronize the mall and bring crowds to the other stores as well. The name of the store has been prominently displayed as an anchor tenant outside of the mall, which is a form of marketing and advertising to the public to draw them to the mall. As the mall is located inconveniently away from the MRT station, not many customers would be willing to patronize the mall. However, placement of an exclusive store not widely available island wide, such as ‘iwannagohome’, as an anchor tenant is a good strategy of attracting more customers to the isolated mall and has a positive effect of the property’s marketing positioning. Assuming the anchor tenant has a good track record of prompt rental payments, it helps Tanglin Mall secure returns by investing in stable tenants who pay high rents.
Moreover, it has leased its retail stores to some stores such as ‘Salam Carpets’,’Wingngai’ and ‘Carlos Gallery’, which focuses on selling traditional and cultural items. These leases are unique and exclusive as they stand apart from the typical fashion and high-end outlets, which gives the mall a competitive edge over the rest. Especially with target market of tourists and foreigners who would be keener to patronize these stores to shop for cultural items, Tanglin Mall has exploited on a good tenant mix, which can bring in more customers and crowd to the mall. These stores has been located at a level where there will be heavy pedestrian flow so that more people can patronize the store and as such generate great profitability for the firm.
However, the mall is currently…...