Aug 30, 2013
London prepares to welcome its first designer outlet
Aug 30, 2013
Until now, price-conscious London shoppers, for lack of nearby discount stores, had to travel more than an hour’s drive to reach Bicester Village, the most successful factory outlet shopping center in the UK. But after October 23, the British capital will have its very own designer outlet – or nearly.
Under construction for the past two years, London Designer Outlet is a 30,516 square meter commercial space adjacent to Wembley Stadium, only 15 minutes by train from central London. Currently 70% leased, the retail center will ultimately house 85 shops, 15 restaurants and a cinema complex.
So far, M&S and L.K. Bennett, as well as Gap, Nike, Adidas, Clarks, Superdry and Guess. have signed on for space. The stores will offer reductions of up to 70% on end-of-season stock.
Project developer Quintain, a real estate company specializing in construction in London and its environs, is counting on the high population density around the center’s geographic location to enhance the project’s profitability. “With 10.4 million people living within a 60-minute drive of the center, and 782,000 people within a 20 minute drive, it has the largest catchment density for any UK outlet,” noted the company.
In the long run, Quintain hopes to equal the success of other British outlet malls – more than 45 overall – and especially that of Bicester Village, which has become Britain’s second largest tourist attraction for Chinese visitors.
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