Hanam Union Square

July 28, 2015
By: Reurbanist

The largest retail centre in South Korea at 152,000 square metres of leasable area  

hanam

Fig 1. Rendering of the under construction Hanam Union Square retail centre located in Hanam, South Korea. http://www.taubmanasia.com/taubman-properties/hanam-union-square/

All of Reurbanist's team members participated in assisting Taubman Centres and SHINSEGAE with conducting their due diligence for Hanam Union Square in 2012/2013.

Team members contributed their knowledge to developing the project's site SWOT analysis, demographic and psychographic GIS mapping analysis, concept & development strategy, and a unique retail demand model that was one of the first of its kind to be used in South Korea.

Image2

Fig 2. Report slide showing how Hanam Union Square's sales forecasts were calculated.

The demand analysis was adapted from Huff’s Retail Gravity Model that uses straight line distances, sizes of supply points (retail competitors), and the demographics of demand points (population clusters/neighborhoods) to estimate the sales potential of a planned retail centre.

3

Fig 3. Distance decay chart that aids in delineating trade areas based on the Huff Gravity Model. Points on the chart represent "dongs" or neighborhoods.

About Reurbanist
Reurbanist™ believes retail offers cities the best opportunity to recreate their urban fabric.

Developers, investors and governments around the world are recognizing how retail offers enormous opportunities. Retail is the glue which holds communities, neighbourhoods and mixed use developments together.
Recent Articles
Rethinking retail’s role in animating streets and public spaces

For decades, planners, urban designers, and policy makers have advocated for street-facing ground floor retail space as a means of animating streets and public spaces. Retail was in many ways the optimal use for achieving this activation due to its foot traffic generation and visual diversity created by storefront designs, lighting, and window transparency. Many […]

The Benefits of PokémonGo: Footfall, Draw & Leverage

Since the release of PokémonGo, there has been an influx of coverage in what many local business and retail centres are doing to capitalize on this increasingly popular game developed by Niantic and The Pokémon Company. The premise behind this game is to mimic the story and concept of the Pokémon franchise which is aptly […]

The Viability of Vertical Retail in Urban Environments

In the context of vertical shopping environments, a rule of thumb that is sometimes applied is that sales performance drops off by 50% for every floor above ground level. By the time you get to the third storey, you can expect only a fraction of the sales turnover. As a result the space is often not viable. When working […]

Food Lover's Market, Cape Town

To meet the evolving needs of workers and visitors in the core of Cape Town, a new food concept has been pioneered under the “Food Lover’s Market” label. The modern eatery concept brings together the best of an urban grocery store and food court within one beautifully designed facility. Importantly, centralized point-of-sale tills allow visitors […]

Reurbanist on Flickr
  • Istinye Park 4
  • Istinye Park 2
  • Istinye Park 6
  • Istinye Park 9
  • Istinye Park 8
  • Istinye Park 3
  • Istinye Park 1
  • Istinye Park 5
  • Istinye Park 7
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram