20111115 Investment memo Thanh Xuan park

1 | Savills

THANH XUAN PARKINVESTMENT MEMO

I. Overview

II. Location

III. Project schedule

IV. Benchmarking

V. Development concept

VI. Finance

CONTENT

3 |�Megastar�Land

OVERVIEW


OVERVIEW

� A unique lake-side upscale retail and entertainment destination in the heart of the new West Hanoi.

� Total land area : 132,356 sqm� Total GFA: 180,000 sqm


LOCATION

LOCATIONAccessibility


- 1 km from the National Convention Centre- 1 km from Hanoi Museum- 12 km from Westlake- 15 km from Old Quarter- 30 km from Noi BaiInternational Airport

LOCATIONTransportation


- Close to the future city metro line- In between ring roads 2&3- Surrounded by high density residential areas

ThanhXuan park


BENCHMARKING

BENCHMARKINGProjects


Keangnam

New Hanoi people

committee

Nationalconvention

centre

Hanoimuseum

The Garden

CharmvitPlaza

Big C

Oceanbank

Timessquare

Royal city

Thanh Xuanpark

Metri sport&entertainment

centre

Yen Hoa Park

Parkson

Pico Plaza

Existing:

The Garden: ShoppingMallBig C: HypermarketKeangnam: DepartmentStore (Parkson), Intercontinental Hotel, Apartments, OfficesParkson: DepartmentStorePico Plaza: Shopping Mall, Apartments, OfficesCharmvit: Shopping Mall, Hotel, Offices

Under Development:

Times Square: ShoppingMallRoyal City: Shopping Mall, Apartments, EntertainmentOcean Bank: Apartments, Shopping Mall Mandarin garden: apartment, shopping mall

Mandarin garden

BENCHMARKINGProjects


New Hanoi people

committee

Nationalconvention

centre

CharmvitPlazaBig C

Oceanbank

Timessquare

Mandaringarden


PROJECT VISION & STORY LINE

“A quality development with a sustainable, cross-generational and cross-cultural approach.”

“Your family companion: edutainment for kids, thrill & fun for Gen Z, relaxing for parents and

gathering opportunities for all ages.”

PROJECT VISION AND STORY LINE



PROJECT SCOPE

GROUND FLOORLocated across the new Hanoi city hall and taking advantage of breath-taking lake views, an array of flagship stores and food & beverage outlets offer a variety of options for West Hanoi residents, office workers and city officers.

Standing proud and flanked by a flagship bookstore, Hanoi’s first and only science/children museum brings unique edutainment to the capital city.

Tenant mix:-Interactive Science/Children Museum-Flagship Bookstore-Themed Restaurants-Flagship Vietnamese Cafes-Flagship High-fashion Stores

PROJECT SCOPE


BASEMENT 1

Kids universe : learn & play

Tenant mix:-Kids Park: kids play area designed to stimulate children’s imagination through interactive learning-Kids University: 15-20 institutions providing knowledge in different fields (e.g. Kumon)-Themed Food Court (e.g. Food Republic)-Family Retail: clothing, toys, household, beauty salons, etc

PROJECT SCOPE


BASEMENT 2

Teenagers and family universe: thrills & spills

Tenant mix:-Cinemas: 12 screens (double floor)-Family Entertainment Centre: arcade games + 1 star attraction (e.g. laser tag)-New Generation Bowling: 15-20 lanes (incl. private lanes), pool tables, function rooms, bar lounge-Karaoke City: Vietnam’s biggest karaoke-Fast Food (Pizza Hut, KFC, etc)-Themed Retail: music, phone, computer, accessories, etc

PROJECT SCOPE


BASEMENT 3

Surrounding an alfresco patio and overlooking the waterfall, a variety of lifestyle and gathering offering for adults

Tenant mix:-Fitness & Spa-Flagship Restaurants (Chinese, Korean, Japanese)-Food Court-Night Club-Retail

PROJECT SCOPE


PROJECT SCOPE

Entertainment 30,374 46%F&B 16,516 25%Retail 18,530 28%

Total 65,420


Ground floor Entertainment F&B Retail

GFA16,370 Science/children

museumThemed

restaurantsHigh fashion

storeFlagship book

storeNFA 13,030 4,000 4,500 4,030 500

Basement 1 Entertainment F&B Retail

GFA31,470 Kids park Kids university Themed

foodcourtFlagship book

store Family retail

NFA 18,882 3,750 3,750 3,882 2,500 5,000Basement 2 Entertainment F&B Retail

GFA26,890

Cinema

Family center New bowling Karaoke city Fast foodThemed

RetailNFA 14,134 4,000 2,500 1,500 3,134 3,000

Basement 3 Entertainment F&B Retail

GFA35,225 Fitness & spa

centre Nightclub Food courtFlagship

restaurant RetailNFA 19,374 5,000 4,000 1,874 2,500 2,500 3,500

Total GFA 109,955


DEVELOPMENT CONCEPT

DEVELOPMENT CONCEPTOverview


Forrec Ltd. is a Toronto based planning and design firm that specializes in the creation of entertainment and leisure environments worldwide.

“Thanh Xuan Park master plan envisions a landmark destination development for Hanoi. The scheme capitalizes on the significant investment in road infrastructure, the park setting, the proximity to the People’s Committee Headquarters to provide a balanced mix of both public and private uses on this strategically located site.

The design scheme tries to avoid the conventional mall approach reliant on a strictly internalized and highly controlled visual bombardment of merchandise, and instead focuses on extending the pedestrian landscape into the heart of the development and bringing diverse groups of people together.”

Steve Shah



The project focuses on 2 main areas:

�The above ground area which is dedicated to nature with the lake and the public park around which developed low-rise building comprising shopping streets and lake-view cafés and restaurants.

�The underground entertainment and shopping centre developed around patio throughout each basement which will bring natural light and fresh air to each level. A waterfall comes from the lake to bring some fresh ambience and remind the lake above.

The project includes all necessary facilities for the visitors such as:

�Large parking space on 2 basements�An amphitheater for public show�Large walk way around the lake with open air coffee shops and playground.

�Sufficient number of restrooms�Large common areas to allow a smooth traffic-flow throughout the mall

DEVELOPMENT CONCEPT


Overview

PERSPECTIVE RENDERING



PROJECT SCHEDULE

PROJECT SCHEDULE


2011 2012 2013 2014Date 10 11 12 1 2 3 4 5 6 7 … 12

Lega

l

Master plan 1/500 approval 10-Jan-11

Investment licenseDec-11

Basic design approval Apr-12Technical design approval Jun-12

Con

stru

ctio

n Land clearance Dec-11

Construction (lake) Dec-12Constructionunderground facility Jun-14


PROJECT FINANCE

PROJECT FINANCINGBudget


Land cost 35MHard construction cost

Basement 38MSupperstructure 4MFinishing works + Services 29MExternal Works include lake… 6M

Soft construction cost

Consultant fees 4MMarketing/leasing budget 1MAdvertising 0.5MInsurance during construction 0.5MOverhead cost 0.5MContingency 8M

Total investment 127M

PROJECT FINANCINGRevenue


Food & beverage RevenuePrice per sqm $US NFA Monthly Yearly

Ground floor 50 4,500 225,000 2,700,000Basement 1 30 3,882 116,460 1,397,520Basement 2 20 3,134 62,680 752,160Basement 3 10 5,000 50,000 600,000

27.5 16,516 454,140 5,449,680Retail RevenuePrice per sqm $US NFA Monthly Yearly

Ground floor 60 4,530 271,800 3,261,600Basement 1 30 7,500 225,000 2,700,000Basement 2 20 3,000 60,000 720,000Basement 3 10 3,500 35,000 420,000

30.0 18,530 591,800 7,101,600

Parking RevenuePrice per sqm $US Number of slot Monthly Yearly

Car $ 120 1,837 220,440 2,645,280 Scooter $ 60 528 31,680 380,160

252,120 3,025,440

Entertainment RevenuePrice per sqm $US NFA Monthly Yearly

Science museum 10 4,000 40,000 480,000Cinema 15 5,000 75,000 900,000Kids park 10 3,750 37,500 450,000Kids university 25 3,750 93,750 1,125,000Bowling 15 2,500 37,500 450,000Karaoke 20 1,500 30,000 360,000Family center 15 4,000 60,000 720,000Fitness&spa 15 4,000 60,000 720,000Nightclub 10 1,874 18,740 224,880

15.0 30,374 452,490 5,429,880

Total 21,006,600

20111115 Investment memo Thanh Xuan park

Documents

Transcript of 20111115 Investment memo Thanh Xuan park