The first retail development for TCC Assets is The Street Ratchada, a five-storey street mall with a total lettable area of 30,000 sq m on 16 rai on Ratchadaphisek Road. 

TCC Group, owned by liquor tycoon Charoen Sirivadhanabhakdi, is branching out its retail property business with plans to develop retail spaces at three new prime sites leased to its affiliates.

Pongsak Nantawannakul, managing director of The Street Retail Development Co, a subsidiary of TCC Assets under TCC Group, said development would start next year. One of the three sites is a 14-rai plot in the Sam Yan area on the corner of Rama IV and Phaya Thai roads, owned by Chulalongkorn University.

The Sam Yan project is to be a mixed-use development where TCC Group's two subsidiaries including SET-listed developer Golden Land Property Development Plc and Thipphatthana Arcade Co won bids earlier in the year for a 30-year lease contract.

With a total value of 8.5 billion baht, it would have a total gross floor area of 222,000 square metres, comprising residential units, office space and retail.

TCC Assets will handle the development of retail only.

"The Sam Yan site will be the second retail development under TCC Assets, which is controlled by Panot, Mr Charoen's youngest son," said Mr Pongsak. "All new retail developments in the future for which the group wins bids for land plots will be handled by TCC Assets."

TCC Assets' first retail development is The Street Ratchada, a five-storey street mall with a total lettable area of 30,000 sq m, located on a 16-rai plot on Ratchadaphisek Road where hypermarket Carrefour Ratchada was formerly located.

With a total investment of 2.3 billion baht, the company targets a break-even point within eight to 10 years. Rental rates range between 900 to 2,000 baht per sq m per month, and it is now fully occupied.

Scheduled to open on Dec 2, 2015, the new mall will have food outlets occupying 40% of the total area, with 20% each for fashion, services and Bounce free-jumping zone, operated by an Australian entrepreneur.

Next year's projects include a 35-rai plot on Rama IV Road near the Klong Toey intersection, now used as rental car parking for the Queen Sirikit National Convention Center, and an 88-rai site on the corner of Rama IV and Wireless roads where the Suan Lum Night Bazaar was located. The two plots are owned by the Crown Property Bureau.

"The three sites are located on Rama IV Road and they are very close together. Mr Charoen has allowed TCC Assets to handle them all so that we can develop different segments," said Mr Pongsak, formerly executive vice-president of The Platinum Fashion Mall Co, who joined TCC Group six months ago.

TCC Group has a retail property business run by TCC Land Co supervised by Mr Charoen's son-in-law Tor Traisorat. TCC Land manages five brands of shopping plazas comprising Asiatique, Gateway Ekamai, Centerpoint of Siam Square, Pantip and Box Space.