Mixed-Use
Design thriving mixed-use precincts by understanding your different customer segments for the residential, office, and retail components
Successful development of a mixed-use precinct requires accurate insights about your target office workers, residents and retail customers, and a deep understanding of the unique commercial ecosystem within which the site is located.
Richmond Traders
Richmond Traders is a new fresh food market and dining spot with a 7,000 square meter urban market.
Owned and developed by Home, the Richmond Traders precinct also features premium build-to-rent-apartments, known as Home Richmond. Home approached Propella.ai to seek advice on future retail uses that should be considered at Richmond Traders to deliver outstanding amenity and services for future BTR residents, fulfil the needs of the local community and help support the establishment of a successful retail precinct.
Through analysis of existing fresh food markets across Melbourne, Propella.ai defined a target trade area for Richmond Traders and then profiled residents living within this trade area to understand their attitudes, behaviours and characteristics. Data collection and analysis was carried out over a number of areas including:
Customer Profiling: Psychographic and demographic data analysis from residents within the catchment area, including their preferences for Food & Beverage, Health & Wellness and Retail Services.
People Movement Analysis: Analysis of the Bridge Road retail precinct to understand where and when visitors utilise this precinct by day of week and hour of day, as well as hot spots they frequent.
Propella.ai's highly detailed analysis provided the information Home required to:
- Gain a data-backed understanding of what already makes Richmond a popular destination for workers, residents and visitors
- Take learnings from other fresh food markets in Melbourne, through analysis of their customers and trade areas
- Develop a target trade area for Richmond Traders to focus on the wants and needs of these people when planning the development
- Build an informed placemaking and retail strategy to plan the right retail mix that will resonate with future BtR residents, the local community and destinational visitors
- Help inform the retail leasing strategy for Richmond Traders through data insights
Christian Grahame
Head of Home
Home is a leading BtR platform that is reimagining rental properties in Australia, with a community-centric approach and offering service and amenities of a luxury hotel. Many of Home’s properties are designed to feature a dynamic mixed-use offering tailored for its neighbourhood and to provide an ultra-convenient and integrated lifestyle for Home residents.
Home approached propella.ai to seek advice on future retail uses that should be considered at Richmond Traders to deliver outstanding amenity and services for future BtR residents, fulfil the needs of the local community, and help support the establishment of a successful retail precinct.
Through analysis of existing fresh food markets across Melbourne, propella.ai defined a target trade area for Richmond Traders and then profiled residents living within this trade area to understand their attitudes, behaviours, and characteristics.
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