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| Client |
One of the largest conglomerates in the field of entertainment and film exhibition, Adlabs Films Ltd is owned by the Anil Dhirubhai Ambani Group (ADAG). Pioneering the concept of multiplexes and introducing the public to the IMAX experience, Adlabs has come a long way with over 100 existing screens in India and 500 in the offing.
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| The Challenge |
Adlabs, with their expansion plans in Punjab,was specifically looking for premium space in Amritsar that could fulfil the requirement to construct a multiplex with 4 screens. The challenge our team faced was to locate such a place in one of the main areas of the city keeping in mind the critical 10 year entertainment exemption. Our team of professionals faced the challenge of finding an area of a size which met all the set requirements of the client and also brought about the most feasible deal on the project.
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| Our Strategy and Efforts |
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Studied, across Amritsar, 8 potential sites that were still under construction and which could meet the criteria set by the client . |
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Prepared basic financial analysis comparing the annual revenues to occupancy cost of leasing after taxes. |
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Conducted a study on the competition in the market from multiplex chains and future threats and presented a catchment analysis report. |
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Developed and implemented strategic plans, co-ordinated process of proposals and site inspection, and successfully negotiated lease rentals with the developer. |
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| Most Critical Challenge |
The most challenging part was to get the assurance of entertainment tax exemption to the client. Second was to get on-time handover of the facility. Last but not least, we also negotiated scope of developer’s deliverables in favor of both the tenant as well as the former.
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| Our Outcome |
The outcome was positive. Space in Splendor Mall, Amritsar was successfully leased out to Adlabs Films Ltd and most importantly the transaction was completed within the guidelines and timing outlined by the client. It was a task successfully completed on time and within budgets.
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