Feel Good Edition 3

Competing shopping centre which has just bolstered its leisure o er, impacting the catchment of our centre Station on a new inter-city high speed rail line The centre now attracts a larger catchment, reaching suburban families and more a uent shoppers Our model shows increasing catchment reach as additional leisure elements are introduced to the existing shopping centre. Even relatively simple and low-cost enhancements at ‘Feel Good Level 1’ can produce tangible benefits; e.g. the introduction of a pop-up outdoor cinema screen and food trucks attracts a new audience of students from a local campus, who were previously uninspired by the scheme’s mix. More broadly, visitor spend increases and we see a shift in visitor behaviour (longer dwell times and more frequent visits). In a ‘do nothing’ scenario, competition from surrounding schemes will begin to erode the catchment as visitors are drawn to other locations. Behavioural change becomes more marked at ‘Feel Good Level 2’ and the catchment increases significantly. Despite there being several multiplex cinemas in a similar drivetime, our superior and more unique o er of a boutique cinema and a food hall bolsters the centre’s evening economy and draws in a wider audience including pockets of more a uent households and the after-work wallet of an o ce campus. The most sizeable changes in both visitor behaviour and catchment are obvious at ‘Feel Good Level 3’. We experience much longer dwell times and a correspondingly larger market share than other competing locations. A family entertainment centre will appeal to visitors from well beyond the city location, while a major arena will have potential international travel appeal. LEISURE EXTENSION BOUTIQUE CINEMA (< 5 SCREENS) - HIGH QUALITY FOOD AND DRINK OFFER – UP TO 3 CASUAL DINING OUTLETS (400 SQM EACH) – PERMANENT STREET FOOD / FOOD HALL SIGNIFICANT LEISURE ELEMENT MAJOR FAMILY ENTERTAINMENT CENTRE (1,000 – 5,000 SQM) WITH TRUSTED BRAND OPERATOR AND STRONG INTELLECTUAL PROPERTY (E.G. NICKELODEON, LEGOLAND) - MAJOR ARENA (CAPACITY FOR 10,000) SMALL LEISURE ELEMENTS CHILDREN’S PLAY AREA – LANDSCAPING - WATER FEATURES - PICNIC AREA - SEATING AREA - MINI PARKLAND - SMALL EVENTS SPACE (E.G. 100 PEOPLE) - OUTDOOR CINEMA SCREEN - LIGHTING - STREET ART THE VALUE OF LEISURE | 07 3 2 FEELGOOD L E V E L 1 0 4.2% 7.6% 11.2% 14.7% M A R K E T S H A R E M A R K E T S H A R E M A R K E T S H A R E M A R K E T S H A R E *CACILtd. 2020 *CACILtd. 2020 *CACILtd. 2020 *CACILtd. 2020 TYPICAL URBAN SHOPPING CENTRE WITH NO ADDITIONAL LEISURE ELEMENTS Merlin Entertainments - Peppa Pig World of Play Shanghai * * * *