Gurugram-based Smartworld Developers Pvt Ltd has announced the launch of its premium high street retail project, ‘Smartworld Orchard Street’. The project is located on the prestigious Golf Course Road (Extn), opp Grand Hyatt in Sector 61, Gurugram, and is 100,000 square feet in size. The company is expecting a top line of Rs 250 crore from this project.
Smartworld Orchard Street is spread across three floors, with units ranging from 500 to 12,000 sq. feet. One of the key USPs of the project is that every unit is front facing and the project has a 150-meter-wide frontage. Within a day of launch, Smartworld Developers leased out an area of approximately 15,000 sq. ft (the complete third floor) to Big Fish Ventures, which will open four F&B outlets on the third floor. Big Fish Ventures is a Delhi-based hospitality group that runs popular dining lounges, including The Junkyard Cafe, Key Night Club, Garam Dharam, and Local.
Commenting on the launch Vivek Singhal, CEO of Smartworld Developers, said, “With diminishing open spaces, high street retail projects have become the go to place for food, shopping, and entertainment requirements. Looking at the increasing demand, we have launched our premium high street retail project, ‘Smartworld Orchard Street’ that will offer world class F&B, shopping, and entertainment experiences to our patrons. Located in the heart of Golf Course Road (Extn.), the project has already attracted interest from leading brands. On the day of the launch, we signed an agreement with Big Fish Ventures to lease the entire third floor.”
The launch of the project was followed by the signing of an agreement between Smartworld Developers and Big Fish Ventures for the opening of four F&B outlets at Smartworld Orchard Street. The agreement was signed between Vivek Singhal, CEO, Smartworld Developers, and Umang Tewari, Founder, Big Fish Ventures.
“After our outlets in Connaught Place, Saket & Chanakyapuri, we were eyeing for a prime location in the millennium city of Gurugram and we zeroed onto Smartworld Orchard Street because of its great location, affluent catchment, footfall envisaged and its wide frontage. We are excited to sign up with them and we did not want to miss this fantastic opportunity” said Umang Tewari, Founder, Big Fish Ventures.
Smartworld Orchard Street is strategically located at Sector 61, Golf Course Road (Extn), opposite the Grand Hyatt, and is surrounded by a slew of residential projects and an IT Special Economic Zone (SEZ) with a catchment of approximately 2 lacs. Additionally, as the project is in the close vicinity of Smartworld’s residential project, Smartworld Orchard, it will have an immediate catchment of more than 8,000 residents.
Source : FE