Vigorous sales spur more outlet growth - Value Retail News

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PlaNNED CENTERS UPDaTE Neinver developing Six phase 1 projects NEINVER IS GOING to be busy for the next two years developing one center in Spain, one center in Portugal, two in France and two in Poland. The Spanish developer will also be expanding four existing centers. By the end of 2012, AS OF MID-FEbRuARY, Norwegian Outlet Center was 90 percent leased and well on its way to a June opening. Located in Vestby, the 118,400-sf planned center is 25 minutes from the Oslo city center and nine minutes from Tusenfryd, Norway’s largest amusement park. The center is on the E6, within an hour’s drive of 35 percent of Norway’s population. Developer of the project is Norwegian Outlet, whose principal is ° Adne Sondral, ° an Olympic medalist in the 1,500-meter speed skating event. He won the gold medal in 1998 at Nagano and the silver medal in 1992 in Albertville. During the2010Olympicsin ° Vancouver, Sondral was a speed skating commentator for a Norwegian sportscast. IOJ caught up ° with Sondral during the 2010 Winter Olympics in February to ask the burning question, “Which is harder, winning an Olympic medal or opening an outlet center?” 16 INteRNatIONaL OutLet JOuRNaL SPRiNg 2010 Neinver will manage 354,400 m 2 of outlet GLA in six European countries. The 12,600-m 2 first phase of Factory La Coruña in the province of Galicia, in northwestern Spain, will open during the 4th quarter of 2010. The center, which is just 2 km from the airport and 9 km from Coruña, will be Neinver’s fifth in Spain. Neinver plans a second Norwegian Outlet is Olympian’s next goal when I really want something I give it everything I have. I did so with skating and I am doing so in setting up Norwegian Outlet. It has been challenging at times with financial crises and regulatory problems, but skating had other challenges. “In my experience if you really want something, you will make it happen. Norwegian Outlet seems to be one of the more successful outlet endeavors in Europe, considering that it’s more than 90 percent leased four months before the opening. But we still have to work hard to drive revenue and to make our tenants as profitable as possible. I have always needed clear goals in life. Right now, the success of Norwegian Outlet is my Olympic medal.” Signed tenants include Abecita, Arts & Crafts, Bergans, Bjorn Borg, Coast, Karen Miller, Columbia, ° ° Adne Sondral, who is developing Doite, Follestad, Norwegian Outlets, won the 1998 Gant, Helly Hansen, Olympic gold medal in speed skating House of Brands, in Nagano, Japan. Hoyer, Hugo Boss, “Winning the Olympics was my big IC Companys, Josef Seibel, Le Creuset, dream since I was a small child,” Levis,Lillevinkel,Mexx,MXDC,NoaNoa, ° Sondral says. “I had to work hard Norrona, Peak Performance, Polarn for 20 years to reach that goal. It’s o Prylet, Puma, QuickSilver, Read, possible to build an outlet village SamsoeSamsoe, SEB, Timberland, within a shorter period of time. But Tommy Hilfiger, Triumph and Vans. c phase of 8,900 m 2 as well. In France, Neinver is developing in partnership with MAB Development the 18,000-m 2 Honfleur The Style Outlets. The site is on the western coast of Normandy, near the beach at Pont de Normandie. The center will open in spring 2011. Also in France, Roppenheim The Style Outlets is scheduled to open during the 4th quarter 2011. The 25,500-m 2 scheme is in the Alsace region of northeast France, next to the French-German border, 46 km north of Strasbourg. Neinver’s development partner MAB acquired the site in October from Freeport, which had pre-let more than 30 percent of the space. In Portugal, Algarve The Style Outlets is scheduled to open in 2012. The 23,000-m 2 center, which will be Neinver’s second in Portugal, is near Faro, famous for its beaches, flamingoes and high influx of visitors. In Poland, Neinver will open Factory Krakow and Factory Warsaw, both 36,000 m 2 . Neinver will add 14,000 m 2 to Vila do Conde in Portugal; 4,400 m 2 to Zweibrücken in Germany; 3,800 m 2 to Vicolungo in Italy; and 3,000 m 2 to Factory Sevilla Aeropuerto in Spain. local community gets preview of Soltau Outlet GVA OuTlETS and Mutschler Development Group got a positive response from the community at a recent preview outlining the plans for the 10,000-m 2 Soltau Outlet set to open in 2011 in Germany. The preview included an accounting of the center’s design and prospective tenants, plus the impact the scheme will have on the area’s employment, revenue and tourism. In the audience were local government officials, the mayor and key councilors, business owners and tourism representatives. The center site is in the Luneburger Heide region near the cities of Hamburg, Bremen and Hanover. It is across from Heide-Park, one of the largest theme parks in northern Germany, and along the A7 motorway, accessible to the area’s 2 million annual visitors.
“The key factor here is that this is a new retail concept for the area,” says Brendon O’Reilly, director of GVA Outlets, “so it is important that everyone understand the concept and how it works. It is also important that the benefits are explained and misguided fears are laid to rest, as there is always confusion between out-of-town retail parks and outlet centers, which operate in a very different way. “The community now understands and is delighted that we are coming. Considering how difficult planning permission can be for outlets in Germany, this support is a real achievement.” Ferrara FOC plans November opening A NOVEMbER opening is planned for Costruzioni Generali Italia’s Occhiobello Outlet Village. The 12,800-m 2 center will be home to 74 tenants, predominately Italian and French brands. OOV is in the town of Occhiobello, between Veneto and Emilia Romagna. The site will serve two of the provinces with the highest per capita disposable income in Italy, 20 minutes from Rovigo and five minutes from Ferrara. The catchment includes some 3 million people residing in Padua, Bologna and Venice. The site, on A13 Padua-Bologna Highway, has full planning approvals. In Cannes in November, Francesco Bordignon, of consultant Kboard, said the scheme was 45 percent leased. “The demographics of the area are more like Northern Europe,” he told IOJ. “It’s not like Southern Italy.” ING to expand Dalton Park ChIlDRENSWEAR retailer Designer Kidz opened earlier this year at ING Real Estate’s Dalton Park in Murton, England. But the big news at the 160,000-sf center is that planning has begun for a €27 million expansion. Last year ING dropped efforts to sell the project, which had brought interest but no proper offers, and instead decided to go ahead with a major expansion. The second phase, expected to create up to Work is progressing on the 25,000-m 2 first phase of Sicilia Outlet Village, as seen from this photo taken on Feb. 4. Located in the middle of Sicily, one hour from Taormina and 90 minutes from Palermo, the scheme will open in the autumn. Premium Retail and Gruppo Percassi are developing the center. 500 jobs, will include a cinema, supermarket, hotel and petrol station. Dalton Park, which opened in 2003, has weathered the recession and is now in good shape with footfall up 6 percent and sales up 10 percent (see page 4). ING hopes to gain approval for the expansion this year and begin working on it by the end of 2011. The center, just off the A19 on the site of Murton Colliery, was originally granted outline planning permission in 2001. FOCs in Japan, Korea expand ChElSEA JAPAN opened the 176,000-sf phase 2 of Kobe-Sanda Premium Outlets in December, adding 90 new tenants. The center now totals 180 stores and 371,000 sf. New tenants include Armani, Helmut Lang, A Bathing Ape and Dsquared2, as well as a full range of men’s brands, including Edifice and Paul Smith. Chelsea Japan also broke ground on phase 3 of Toki Premium Outlets on Oct. 29, 2009. This expansion will add another 30 stores, bringing the total to 140. The 231,000-sf center, which opened in 2005, is located in the Toki Plasma Research Park. Shinsegae Chelsea opened a small expansion of Yeoju Premium Outlets (Korea) on Dec. 18, 2009. The 15 new stores include Bally, Michael Kors, Moschino, Loro Piana, Leonard, Nina Ricci, Tumi and Issey Miyake. The center is 36 miles southeast of Seoul. Moulin de Nailloux gets new owner before it opens IN FEbRuARY, the European property investment company Corio acquired 75 percent of the planned Moulin de Nailloux in Toulouse, France, from developer COGEP. The acquisition price was €44 million. The outlet center’s 22,100-m 2 first phase is set to open in June 2011. The new-construction outlet village, in Chemin du Gril, Le Moulin, 30 km south of Toulouse, was 50 percent leased as of March 1. An 8,800-m 2 phase 2 will open in 2014. COGEP retains 25 percent ownership, and its subsidiary Advantil will continue leasing, marketing and managing the center, including the planned second phase. Corio has first rights to acquire the remaining 25 percent of the property in 2016. As of Dec. 31, 2009, Corio’s €5.7 billion portfolio included 1.5 million m 2 in 105 projects, of which 91 are shopping centers. The company’s pipeline portfolio includes approximately 18 phase 1 projects and 14 expansions. c SPRiNg 2010 INteRNatIONaL OutLet JOuRNaL 17
Page 1 and 2: COVER STORY Vigorous sales spur mor
Page 3 and 4: PAGE 4 PAGE 8 PAGE 19 STAFF PETER S
Page 5 and 6: expertise Nobody knows Outlets bett
Page 8 and 9: NaPlES mcarthurGlen goes neapolitan
Page 10: aWaRDS FOCs are finalists For iCSC
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Page 18 and 19: NEWS NOTES Whiteley Village To be l
Page 20 and 21: OUTlET TRaDE gROUPS ORDA’s big qu
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Vigorous sales spur more outlet growth - Value Retail News

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