NOVENA Square officially opens its $22 million Velocity wing tomorrow, billing itself as the island's first sports and 'active lifestyle' mall.
The anchor tenant in the three-storey extension, which took 16 months to complete, is a two-floor California Fitness Jackie Chan Sport centre, the second in Singapore.
The large, 25,800 sq ft fitness centre already has 46 neighbours, including Fila, Nike, the Lonsdale boxing gear store and Lorna Jane women's fitnesswear shop.
Other tenants include Flash & Splash, Billabong, and food and beverage outlets Mos Burger, Harry's Bar, TCC and Haagen-Dazs.
The renovations have come with higher rents, though.
Rates throughout the mall have increased from an average of $8.60 to $11.20 per sq ft - similar to the rents charged at suburban malls like Tampines Mall and Junction 8 in Bishan.
Although rates are still about 36 per cent lower than prime retail spots in Orchard Road, the hike has proven too much for some.
Women's fashion shops Yen and Qoo. G, for instance, have not renewed their leases.
But others are expecting better business to offset the higher rents.
Ms Lau Chuen Wei, executive director of the Singapore Retailers Association, said: 'As long as there are higher returns, I think tenants will be very happy.
'With the addition of a gym and other eateries, the mall is positioning itself as a holistic shopping experience, like an upmarket Queensway for families.'
Mr Ben Soh, 42, who already operates Sports Elements on the second floor of Novena's original building, is opening a beach wear shop in Velocity.
The Novena area, he believes, has potential.
'There are more people living around here, now that there are a lot of new condos. I think there's more buying power.'
Mr Walter Tan, 43, is also counting on a good run for his two stores, Running Lab and Outdoor Life.
The active triathlete started the first Running Lab store at the Funan IT mall last year and hopes Velocity's niche marketing tactics will be a magnet for sports buffs.
Indeed, mall managers are already planning football games, dance competitions and other fitness-related contests.
For Christmas, it plans to build a temporary indoor ice-skating rink, where it will run ice-skating classes and demonstrations of the Winter Olympic sport of curling.
ADDITIONAL REPORTING BY YEN FENG
hoaili@sph.com.sg
RETAIL THERAPY FOR ENTIRE FAMILY
'With the addition of a gym and other eateries, the mall is positioning itself as a holistic shopping experience."
MS LAU CHUEN WEI, executive director of the Singapore Retailers Association
