Page 45 - RLI April 2019

GLObAL OUTLET PROjECTS Outlet Village, providing visitors to this world capital with an
SPECIAL FEATURE: OUTLETS In 2018, developers VIA Outlets increased its brand sales extraordinary and unforgettable shopping experience. The
to €1.07bn and attracted more than 30 million customers first phase of 21,000sq m and 90 stores will open this year,
over the course of the year. VIA Outlets opened 139 new and the second phase, when it arrives, will add another 50
stores and 11,000sq m.
or remerchandised stores in 2018. The portfolio now
A dECAdE OF has over 1,100 stores in its eleven centres, across nine are developing Amsterdam The Style Outlets, set to be
In the Netherlands, NEINVER and Nuveen Real Estate
European countries. The centres that have enjoyed significant
remodelling works in the last three years are the Batavia
an international premium shopping destination with a
Stad Fashion Outlet (The Netherlands), Freeport Lisboa
commercial mix based on both international and Dutch
SUCCESS Fashion Outlet (Portugal), Mallorca Fashion Outlet (Spain) renowned premium brands. The project is scheduled
and Landquart Fashion Outlet (Switzerland), which have
to open in autumn 2020 and will feature a retail area
all reported double-digit brand sales growth compared to
of 18,000sq m, with 115 stores. A further 1,000sq m is
2017 – demonstrating the ongoing success of the company’s
walkways, gardens and a playground area. The centre will
investment strategy. planned for leisure areas, restaurants with terraces,
Rome is Italy’s most popular tourist destination and one of also provide 1,950 parking spaces for visitors and it will be
Designer outlets have been one of the most widely misunderstood, but strongest the world’s best loved cities. With its open air artistic treasures, easily accessible by both highway and public transport. Its
its legendary dolce vita, that unique blend of history, languor, architectural concept will resemble a village concept with CONTINUES
performing, real estate sectors in Europe over the past decade. Here, RLI delves a little fine cuisine and romanticism, and its magnificent ancient and streets and squares, inspired by old factory buildings in a
contemporary art, Rome is the quintessence of the Italian clear reference to the origins of the surrounding area, called ON PAGE 48
deeper into some of the recently opened and upcoming outlet projects across the globe. lifestyle. This is why Arcus Real Estate has extended its SugarCity, considered among the fastest-developing areas >>
portfolio of premium outlet developments to include Roma in the Netherlands

etail outlets are increasingly on the agenda of
shoppers, landlords and investors. Historically, dESIGNER OUTLET CANNOCK, UK
outlets were retail destinations that were located developer: McArthurGlen
Rout of town, with large car parks and a drive-
to appeal. They were single storey, village-style retail centres,
selling goods at a 30-70 per cent discount.
In the last decade two key changes have taken place that
has altered the course of the outlet sector, and made them
incredibly popular. According to Tom Whittington, Retail
Research Director at Savills, the first is that the offer in
most schemes are no longer factory seconds or end of line
products, and the second is that the outlet proposition has
become increasingly leisure orientated, with more schemes
being developed in central and urban locations.
There are large differences in outlet mall provision globally
according to Angela Goodings, Director of Research, Europe
at Nuveen Real Estate. The US – the most mature market
– is relatively oversupplied with supply levels per capita well
ahead of any other market. According to the International
Council of Shopping Centres (ICSC), the number of new
outlet mall openings has slowed significantly in recent years.
It is also observed that many smaller schemes have ceased to
be viable as retailers and shoppers focus their demand on the
best, largest schemes. In the US, opportunities remain in the
sector, but sales at outlet malls are likely to be highly polarised.
Development in the European market is also slowing and
supply levels remain comfortably behind those in North
America. With restrictive planning legislation, oversupply is
unlikely to be an issue. As growing demand for outlet space
as the sector grows in popularity, and cross-border expansion
continues apace, a healthy demand/supply balance will persist.
There are now approximately 250 centres across Europe
with varying levels of maturity in different countries. The
UK remains Europe’s most developed market with 38
outlet centres, and 10sq m of space per 1,000 inhabitants.
This remains below the US average, but is well supplied SILESIA OUTLET, Poland ICON OUTLET, London, UK LIVINGSTON dESIGNER OUTLET, Scotland
Owner: Realm
developer: Neinver & 6b47
developer: AEG & Crosstree Real Estate Partners
compared to other European markets, such as Germany,
which has very low levels of just three square metres per
1,000 inhabitants. This suggests further opportunities for
growth or development.
Asia Pacific is still in the early growth phase with its
provision of outlets. In China, supply per capita is one of
the lowest globally, and while the development pipeline in
China is not insignificant, the provision of high-quality/high-
end schemes will struggle to meet the insatiable demand for
luxury goods from Chinese consumers. Japan is the most
established market in Asia.

44 RETAIL & LEISURE INTERNATIONAL APRIL 2019