Henderson Global Investors, on behalf of its Swindon Designer Outlet Centre, has received planning consent for the development of almost 50,000 ft² (approx. 4,645 m²) of new retail and catering space at the center.
Swindon Designer Outlet currently offers 207,000 ft² of retail space.
The center is managed by McArthurGlen and owned by the UK Outlet Mall Fund, which is managed by Henderson Global Investors and in which McArthurGlen is also an investor.
The development includes the regeneration of the historic Long Shop, built in 1874 as part of the grade II-listed Great Western Railway Works, which will become part of the center. Approved plans at the center, which opened in 1997, also include:
£35 million (approx. 43 million) investment to enhance and expand Swindon Designer Outlet.
Development of almost 50,000 ft² of new retail.
The creation of a new hub of desirable retail stores, including up to 30 additional retail outlets.
Increasing the total number of people employed at the center from 750 to 1,100 adding an estimated further 350 jobs.
A new restaurant offering which will introduce four new 'dine in' brands to the center.
Henrik Madsen, Managing Director at McArthurGlen, said: "Now that the planning application for the regeneration of the Long Shop has been successfully received and approved, we can begin the process of significantly extending our retail space, in particular bringing in more of the most sought-after brand names and to provide a truly inspiring restaurant offering.
"This is an exciting phase not only for Swindon Designer Outlet, but also for Swindon creating up to 350 new jobs, and adding 30 new retail units to the center. This will undoubtedly attract new shoppers to the area, including those within the accessible 90-minute drive time."
Andrew Rich, Fund Manager for the Henderson UK Outlet Mall Fund, added: "We are delighted to have received planning permission for the transformation of the Long Shop and extension of Swindon Designer Outlet. This will further establish the center as the must-visit, shopping destination in the South West and immediate local area. Investment in retail properties is a major part of Henderson's total £12.3 billion (approx. 15.2 billion) of property assets under management. Swindon is a very successful center within our outlet mall portfolio, and the expansion is part of our investment strategy to continue to deliver strong performance for our investors."
Swindon Designer Outlet currently offers 207,000 ft² (approx. 19,230 m²) of retail space and is home to over 90 premium, designer and high-street brands with the best names in fashion, beauty, sportswear and homewares, and offering year-round savings of up to 60%. Leading brands at the center include, Hugo Boss, Jaeger, LK Bennett, Next, Superdry, Ted Baker and Kurt Geiger.
The new development is part of a much larger master plan for the center; including a strategy to make shopping even easier for consumers, by grouping like brands together in special zones, namely premium and designer, high-street and lifestyle, as well as the food quarter and re