Today, on September 20, McArthurGlen Designer Outlet Neumünster will open its doors as the largest designer outlet in Northern Germany. The 120 million center is a joint venture between Henderson Global Investors, on behalf of its European Outlet Mall Fund (EOMF) and McArthurGlen, Europe's leading owner, developer and manager of designer outlets.
McArthurGlen Designer Outlet Neumünster is the largest designer outlet in Northern Germany.
It is Henderson's second outlet center in Germany, following the opening of Designer Outlet Berlin in 2009, also owned by the Henderson European Outlet Mall Fund and managed by McArthurGlen. For McArthurGlen, it represents the 21st McArthurGlen Designer Outlet which signifies a coming of age for the company. McArthurGlen's Designer Outlet Roermond, near the Dutch border with the state of North Rhine-Westphalia, and Designer Outlet Salzburg, also both serve the German market.
The center is located a 40-minute drive north of Germany's second biggest city, Hamburg, and just off the A7 motorway linking Scandinavia with Germany and Continental Europe. Tenants include Escada, Marc O`Polo, Strenesse, Lacoste and Desigual.
Andrew Rich, Fund Manager of EOMF at Henderson Global Investors, says: "Designer outlets have been one of the strongest performing retail sectors across Europe over the past decade and have thrived during the economic downturn across our portfolio. Indeed, today, the European Outlet Mall Fund is one of Henderson's most successful property Funds."
"We are very excited about the opportunity that McArthurGlen Designer Outlet Neumünster will create, both for the local community and our investors. The success of Designer Outlet Berlin has proved Germany to be an ideal location for designer outlets: It is Europe's biggest country in terms of population and economic wealth, as well as having a strong brand culture, a propensity to quality and a well developed fashion industry. We are confident that in Neumunster, the first class tenant line-up, coupled with the resilient nature of the outlet sector, will continue to deliver for our investors."
Gary Bond, Managing Director, Development, McArthurGlen Group, says: "McArthurGlen Designer Outlet Neumünster offers a unique opportunity, on the doorstep of one of the most beautiful, historic, fashion-conscious and wealthiest cities in Europe Hamburg.
"Like our other flagship McArthurGlen Designer Outlets, our new, 21st center is designed to offer the ultimate shopping experience: with much-loved brands, vibrant architecture and design, and a customer service next to none. It's also about weaving designer outlet shopping into the local and regional tourism offer, to in turn boost the local economy."
The center offers 26,000 m² of gross leasable area (20,000 m² sales space), of which 20,000 m² GLA is in the first phase opening on 20 September, and 6,000 m² GLA in the subsequent second phase. It also offers a total of 3,000 free parking spaces. Facilities also include a children's play area and a City of Neumünster Tourism Office, on hand to advise on visiting the ma