Worldwide games retail chain, Decathlon, will forever shut down its store on Sardar Patel Ring Road in Ahmedabad, dispatched seven years prior as the “country’s biggest sports store”.
“The store will cease operations permanently on January 15. The operations of this store will be merged with those on CG Road and Motera in Ahmedabad,” said an authority from the Decathlon sports store that was working from a pre-designed structure gave by city-based manufacturer Goyal and Co.
Despite the fact that the authority would not disclose the purpose for the conclusion, land specialists revealed to The Indian Express that the footfall at the store had declined, particularly after the Covid-19 episode, and the store couldn’t maintain.
The store, which was the main Decathlon store to be dispatched in Gujarat in 2013 and promoted as the biggest in the nation, is spread more than 90,000 square feet of land rented by Goyal and Co, with a liberal jungle gym and a colossal parking spot. Aside from Ahmedabad, Decalthon additionally works stores in Vadodara and Surat urban communities in Gujarat.
The conclusion of the Decathlon store reflects the battle of the retail area, particularly those working out of shopping centers and shopping buildings in Ahmedabad where opening levels are as high as 75 percent and rentals have dropped by 10-15 percent, post-Covid episode.
The Iscon Mega Mall that was one of the primary coordinated shopping centers in Gujarat where Reliance Retail dispatched “India’s largest hypermarket” under the brand name “Reliance Mart” in 2007, is right now 40-50 percent empty with just a modest bunch of stores working.
“The problem with retail suffering in malls in Gujarat is because most of the real estate developers have split the mall space and sold it to small-time investors. So there is no full control over the mall operations. Iscon Mega mall and Dev Arc Mall are good examples,” the consultant added.
“While the vacancy in malls such as Ahmedabad One (earlier Alpha One) is as low as 5 per cent, there are other malls and shopping complexes where the vacancy levels are as high as 50-75 per cent,” said a worldwide land specialist who didn’t wish to be distinguished. There is an expected 20 lakh square feet of retail space in shopping centers in Ahmedabad of which 10 lakh space is empty as of now.
As per Balbir Singh Khalsa, the head of Gujarat activities for Knight Frank India, a land expert, CG Square shopping center on the CG Road which houses a second store of Decathlon is 70% empty. Additionally, the Dev Arc Mall is 80% vacant and keeping in mind that Himalaya shopping center is 15 percent empty, he said.
“The rents in mall and shopping complexes have fallen by 10-15 percent post-Covid. Many restaurants, eateries, gift shops, those selling other merchandise have close down in malls and high-street,” he added. While shopping centers like Ahmedabad One charges Rs 200 for each square feet as lease on the ground floor, the rentals at different shopping centers this rental is about Rs 80-100 for every square feet.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Ahmedabad Local journalist was involved in the writing and production of this article.