The new designer outlet, located in the East Midlands, could create up to 1,500 full and part-time jobs once open in 2023.
Being developed by Grantham-based property investor Buckminster, the outlet village will feature up to 90 stores, restaurants and coffee shops in its first phase, with up to 50 more planned for the second phase. Upon completion, the development is projected to achieve turnover of 400 pounds per square foot initially, which is expected to increase to 500 pounds per square foot in phase two.
Richard Tollemache, Chairman at Buckminster, commented: “The Grantham Designer Outlet Village offers us not only the opportunity to create one of the UK’s most successful outlet retail destinations, but to build a better future for our community in Grantham.” The Grantham Designer Outlet Village will be absolutely driven by its contribution to our local economy and society from day one.”
The outlet intends to provide a major boost to the area’s long-term economic future, bringing £100M of inward investment.
