Cotswolds Designer Outlet 98% pre-let with raft of new signings
Cotswolds Designer Outlet is now nearly fully pre-let following a raft of new signings.
The scheme now has over 133,600 sq ft of space either exchanged or in solicitors’ hands, which will bring it to 98% let when it opens this summer.
The new lettings are led by BOSS, which has taken a 4,126 sq ft unit and is joined by Marks & Spencer, Adidas, and Levi’s, which have secured stores spanning 7,845 sq ft, 8,474 sq ft, and 4,455 sq ft respectively.
Developer and investor Robert Hitchins, along with specialist manager of retail and leisure destinations Multi-Realm, have been responsible for delivering the line-up of Phase 1. Located just off Junction 9 of the M5 near Tewkesbury and equidistant from Bristol and Birmingham, Cotswolds Designer Outlet is part of a long-term vision to delver an injection of investment to the area, with approximately 260,000 sq ft of retail, F&B, and leisure space being delivered through Cotswolds Designer Outlet and the Dobbies Garden Centre.
To date, 110,000 sq ft of Phase 1 has been committed to by 44 brands with more set to be announced soon. In addition to BOSS, M&S, Adidas, and Levi’s, the national and international brands currently fitting out include:
- Fashion brands: GUESS, Radley, French Connection, Ben Sherman, Dune, and Crew
- Athleisure and outdoor brands: Under Armour, Sweaty Betty, PUMA, Skechers, Timberland, Merrell, Regatta, and Mountain Warehouse
- Lifestyle and homewares brands: Rituals, Tefal, Bedeck, The Perfume Shop, Denby, and ProCook
- Casual dining and eateries: Wagamamas, Five Guys, Zizzi, Pret a Manger, 200 Degrees, and Caffe Nero, as well as local independent brand Knead Bakery which will expand with its first outlet location
Robert Hitchins and Multi-Realm are also expecting to bring forward Phase 2 of Cotswolds Designer Outlet earlier than originally anticipated, which will extend the outlet provision by a further circa 50,000 sq ft.
Simon Tothill, property and development director at Robert Hitchins, said: “We have curated the line-up of Cotswolds Designer Outlet to offer the best of British and international fashion brands like BOSS, M&S, Adidas, Levi’s, Radley and GUESS as well as other popular homewares, leisure and lifestyle names, in a classic Cotswolds setting with an elevated customer-focused environment. To launch a new retail scheme that is nearly fully let is a real message of confidence from retail brands who can see the huge potential for a fresh, modern outlet retail destination that sets a new bar for the industry.
“Our ambitions were bold, but we had faith in the demand for a high-quality destination in this location, which is accessible to such an extensive catchment, and able to draw shoppers from across the region and tourists visiting the area from across the globe.”
Christine Grace, leasing director at outlet specialist Multi-Realm, added: “To deliver an almost fully let retail destination of this scale three months ahead of completion is testament to the appeal of the Cotswold Designer Outlet and to the vision and commitment of the team working on this project. Together with Robert Hitchins we have worked hard to create a perfect blend of leading names, bringing the very best global labels and brands to the scheme.”
“Today’s announcement demonstrates that there remains strong demand amongst occupiers for high quality sites in convenient locations and highlights the ongoing attractiveness of the outlet sector amongst brands and investors. The success of this scheme proves that there remains a bright future for physical retail, but only if you curate an attractive and compelling space and have the relationships and data-driven approach needed to sign up global brands.”