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Retail · Sector in build

Retail feasibility, modelled by tenant type.

GLA, specialty and anchor rent, incentives, turnover overlays and stabilised NOI. Popurise is live for residential today and is expanding into retail next.

Register interest View residential model

Why this sector

Stop modelling a centre with one rent rate.

Retail feasibility lives on tenant mix and stabilised NOI. Spreadsheets that average rent across the centre miss the anchor-specialty dynamic that decides the deal.

The old way
One rent rate for the centre.

Specialty, mini-major and anchor blended into one number. Incentives ignored. Stabilised NOI estimated at the end.

With Popurise
Rent by tenant type.

Specialty, mini-major and anchor as separate inputs, with turnover and stabilised NOI connected.

Retail is anchor plus specialty, not a flat rate.Tenant mix, rent, turnover and exit yield in one workspace.
  • 01

    Tenant types as real inputs.

    Specialty, mini-major and anchor with separate rent rates and incentive structures.

  • 02

    Turnover overlays.

    Percentage rent and turnover overlays modelled cleanly, not hidden in NOI.

  • 03

    Stabilised NOI at the top.

    Gross income net of incentives, vacancy and reserve.

  • 04

    Exit yield as the test.

    Capitalised stabilised NOI less sale costs.

  • 05

    Compare tenant mix scenarios.

    Anchor-heavy, specialty-heavy and balanced cases in one project.

  • 06

    Hold IRR not just margin.

    Equity IRR across construction, leasing and exit.

The spreadsheet problem

Stop letting the spreadsheet average the centre.

Retail centres are tenant-mix dependent. A spreadsheet that quotes one rent rate misses the anchor effect and the specialty premium that drive the deal.

  • 01One rent rate across the centreRent per sqm by tenant type
  • 02Anchor and specialty blendedTenant types modelled separately
  • 03Incentives buriedRent-free, fitout and leasing fee modelled separately
  • 04Turnover overlays ignoredTurnover rent as an input
  • 05Stabilised NOI hand-reconciledStabilised NOI live in outputs
  • 06Hold IRR ignoredEquity IRR across construction and exit
  • 07Final_v8 becomes the systemOne live project, one scenario set

The difference

Run retail feasibilities faster.

Spreadsheets average the centre. Generic property tools cannot model tenant mix cleanly. Popurise is being built around the inputs that decide a retail deal.

What you get
Excel workbookBuild it yourself
Spreadsheet templateOff the shelf
Legacy softwareTrained user tool
PopuriseBuilt around the deal
Best fit
Tenancy-by-tenancy models
Generic templates
Trained users
Retail centre feasibility
Tenant types
Averaged
Averaged
Available, heavy
Specialty, mini-major, anchor
Incentives
Buried
Limited
Heavy
Modelled separately
Turnover rent
Ignored
Limited
Process-heavy
As an input
Stabilised NOI
Hand-reconciled
Manual
Available with effort
Live output
Hold IRR
Not modelled
Limited
Heavy
Across construction and exit
Scenario testing
Copy files
Manual
Heavy
Side by side
Version control
File chaos
File chaos with formatting
Better, but heavier
One live project

Get to the answer faster, without spreadsheet mess or software bloat.

Register interest

How it works

Three steps to a faster retail decision.

Model the centre, compare tenant mix scenarios and decide whether the scheme is worth pricing.

Step 01

Model the deal

Set the site, GLA, tenant mix, rent by type and exit yield in one workspace.

Step 02

Compare the cases

Test anchor-heavy, specialty-heavy and balanced as scenarios without copying files.

Step 03

Make the call

See yield on cost, stabilised NOI and hold IRR. Decide what gets the next round.

What the model handles

A retail model, not a renamed office build.

The Popurise retail model is being scoped around tenant types, turnover overlays, opex and exit yield, for Australian developers.

01

Site and GLA

Site areaGFAGLAAnchor areaSpecialty area

02

Land and acquisition

Land costStamp dutyAcquisitionSettlement

03

Build costs

StructureFaçadeSpecialty fit-outAnchor fit-outContingency

04

Rent by tenant type

SpecialtyMini-majorAnchorKioskTurnover

05

Outgoings and opex

OutgoingsRecoveryVacancyPromotionReserve

06

Finance and exit

LVRInterestCap rateExit value

07

Programme

AcquisitionConstructionLeasingStabilisation

Popurise model

Inputs stay connected. Change the deal, see the answer move.

Output · PlannedDriven by sector-specific assumptions

Returns

Yield on cost6.6%
Stabilised NOI$9.4M
Exit value$148.0M
Development profit$22.6M
Development margin18.0%
Specialty rent$1,180/sqm
Equity IRR16.4%
Peak debt$94.0M

  1. Development directors

    Decide which centres are worth chasing.

  2. Acquisition teams

    Screen sites against a target stabilised yield.

  3. Leasing teams

    Sanity-check incentive packages against effective rent by tenant type.

  4. Asset managers

    Stress-test exit cap rate and stabilised NOI.

  5. Funds and investors

    Sanity-check stabilised value against the cost stack.

Why it exists

A better way to run retail feasibility.

Popurise is being built around the inputs that decide a retail deal: tenant mix, turnover, stabilised NOI and exit yield, in one workspace.

Built for retail

Model GLA, tenant types, incentives, turnover, opex and exit yield in one workspace designed around stabilised value.

Made for faster site screening

Use Popurise to test whether a retail scheme is worth bidding before the deeper bid model is built.

Clearer than spreadsheet files

Keep tenant mix scenarios, opex and cashflows together so the stabilised answer is easy to review.

Popurise helps retail teams replace fragile workbooks with a cleaner browser-based workspace for retail feasibility and stabilised yield review.

Questions

Retail feasibility, answered.

Straight answers on how Popurise will handle retail feasibility for Australian developers.

Is the retail model live today?

Not yet. Popurise is live for residential development feasibility. Retail is a future sector being scoped on the same platform.

How are tenant types modelled?

Specialty, mini-major, anchor and kiosk as separate input groups, each with rent per sqm, incentive package and turnover overlay.

How is turnover rent handled?

Turnover rent applies as a percentage of sales above a base, layered on top of base rent. The output panel shows base and turnover separately.

How are outgoings handled?

Outgoings recovery modelled per tenancy. The output panel shows gross and net income separately.

What is the exit treatment?

Stabilised NOI capitalised at an exit yield, less sale costs. Sensitivity bands on yield are part of the scope.

Will it support staged leasing?

Yes. Staged leasing with different ramp profiles per tenant type is being scoped.

How do I register interest?

Use the Register interest button. Tell us how your team currently models retail feasibility and what would help.

Want to shape retail feasibility in Popurise?

Tell us how your team models retail today. We are building this with the developers who will use it.

Register interest View residential model