Henderson Global Investors and McArthurGlen have opened the second retail phase at Barberino Designer Outlet in Tuscany, Italy.
The second phase of Barberino Designer Outlet brings a further 30 stores to the center. It adds more than 5,000 m² of gross leasable area to bring the total amount of retail space at the center to around 27,000 m², comprising, 130 stores.
The center, owned by Henderson Global Investors, on behalf of its Outlet Mall Fund, is managed and developed by McArthurGlen. It is one of five McArthurGlen Designer Outlets in Italy. McArthurGlen is also an investor in the Outlet Mall Fund.
Barberino Designer Outlet, which first opened in 2006, is set into the Tuscan landscape, straddling the River Sieve as it runs down from the Apennine Mountains.
Andrew Rich, Director of Outlet Malls, Property at Henderson Global Investors says: “Designer outlets have been one of the strongest performing retail sectors across Europe over the past decade. We have seen particularly high footfall across our Italian portfolio and are delighted by the success of the initial phase at Barberino Designer Outlet. The first class tenant line-up, coupled with the resilient nature of the outlet sector and McArthurGlen’s expert management, continue to prove a winning combination for our investors. We are confident the second phase will drive investment performance even higher.”
Barberino Designer Outlet welcomed over three million shoppers in 2013, up more than 11% on the previous year’s figure, while spending by non-EU shopping tourists was up over 40%.
Source: Henderson Global Investors