Frasers Group has this week committed to open a new 8,500sq ft Sports Direct store at Affinity Devon, the 100,000sq ft outlet scheme in Bideford.
The news underlines the confidence in the Global Mutual managed scheme from the occupier community. This letting follows the opening of Quba and Co. in a new 1,500sq ft store last month. Over the next few months, a further 10,000sq ft of new lettings are set to be announced.
Global Mutual has agreed terms to see Sports Direct open this summer in the unit vacated by Nike. With easy access, just off the A39 Atlantic Highway, the main route through to Devon & Cornwall’s popular holiday destinations, Affinity Devon is a draw for both loyal and local shoppers as well as for visitors to the region.
Nicky Lovell, Head of Outlets and Retail Business Development at Global Mutual comments: “Retailers are increasingly moulding portfolios to enhance overall brand visibility and grow customer engagement; outlet settings are an important part of that strategy and offer improved lease flexibility with rental commitment that is aligned to sales success. This is making well-located outlets especially appealing as part of retail portfolios as brands navigate the changing shopping habits of the consumer public at large. Since Next – who Sports Direct will trade immediately next to – opened in the second half of 2020, when we were still in the eye of the Covid storm, we have seen occupier appetite increasing steadily across our portfolio of four Affinity outlets. Frasers Group moved quickly, snapping up one of the larger stores within the scheme that is now 95 per cent let by floor space.”
