Developer Quintain has announced GAP and Nike as the first anchor tenants for London Designer Outlet (LDO).
International on-trend sports fashion brand Nike has taken 9,182 ft² (approx. 853 m²) in a prominent location on the ground floor of the Outlet facing Wembley Stadium, while global fashion brand GAP has signed up for an 8,235-ft² (approx. 765-m²) unit on the center's first floor.
London's first bespoke designer outlet and the only one within the M25, LDO is the major retail and leisure element of Wembley City, the 85-acre landmark regeneration project that is transforming the land surrounding Wembley Stadium and Arena. On completion in 2013, it will comprise up to 85 designer retail units, 15 new restaurants, cafés and coffee shops as well as a nine-screen Cineworld.
Phil Cottingham, Managing Director of Retail at Quintain, comments: "I am thrilled to announce our first retail anchors, this marks the start of a new phase in the leasing of the scheme. These deals follow the successful first phase of the lettings strategy, which saw us target operators for the food and beverage area and secure lettings to a range of top names including Pizza Express, Prezzo, Frankie & Benny's, Handmade Burger Co and Jimmy Spices.
This is key to creating a day out, lifestyle, entertainment and retail destination.
"Now we have also signed GAP and Nike two globally-recognized brands that set the perfect tone for our lettings strategy going forward. Once our remaining retail anchors are announced, we will then focus on securing aspirational designer brands, as well as the emerging fashion and lifestyle labels looking to take their first step into the designer outlet sector.
"With these deals now done and further deals in solicitors' hands, 40% of the scheme is let or in advanced stages of negotiation and we are still two years ahead of opening."
George van Vugt, Director Real Estate and store Construction at Nike EMEA added: "Offering proximity to and association with one of the UK's most important sporting landmarks and a designer fashion retail focus, London Designer Outlet is a perfect fit for the Nike brand. We are extremely pleased to have signed up on such a prominent anchor unit in this world-class retail, leisure and lifestyle destination and look forward to opening with the outlet center in 2013."
LDO's catchment statistics are impressive it will be the closest outlet center for 5.8 million people the highest of any in the UK. An estimated 8.4 million people live within a 60-minute travel time and there is a total of £3.4 billion projected catchment spend. Visitor numbers to Wembley City are currently estimated at 9 million a year, and could reach up to 21 million per annum.
Letting agents for LDO are CBRE and Bruce Gillingham Pollard.
Source: Quintain
