London's first discount outlet 'village' attracts 350,000 shoppers since October Launch
Chief executive says 83 per cent of the
rental value of the centre has been let.
Monday 25 November 2013
The new London Designer Outlet has
attracted 350,000 shoppers to Wembley in the four weeks since its launch in October,
developer Quintain said today.
Chief executive officer Max James said 83% of the rental value of the centre — the first of its kind in the capital and anchored by Marks & Spencer, GAP, Nike and Cineworld — has been let.
James said the first four days alone saw 85,000 visitors, enough to fill the national stadium nearby. “There has not been an offering like it in London for such a long time. The brands we have got there are repeat brands. It is positioned not so much at the tourist market — this is an outlet for Londoners.”
Wembley now dominates Quintain’s portfolio after it sold its minority stake in the Greenwich Peninsula scheme to Knight Dragon, an investment vehicle owned by Hong Kong billionaire Henry Cheng Kar-Shun, this month. The £31 million profit from the sale helped Quintain to cut debt below its £300 million target and James said the board was “considering our options” over some form of shareholder return.
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