Resolution Property has announced the relaunch of the Designer Outlet project in Billund, Denmark – a joint venture with Lalandia to develop a €120m state-of-the-art shopping centre in Billund Resort. The scheme joins Resolution Property’s thriving outlet centre portfolio, which includes two other assets – Designer Outlet Soltau in Germany and Honfleur Normandy Outlet in France.
Billund Designer Outlet is situated adjacent to LEGOLAND Billund Resort, the Lalandia Holiday Resort with 880 holiday homes, Lalandia Aquadome, and the new LEGO House completed in 2017. Approximately three million tourists visit the Danish town annually and the site is only five minutes away from Billund International Airport – the second largest airport in Denmark, which accommodates more than three million travellers annually. The airport saw 9% growth in the past year, further reinforcing Billund’s growing appeal as a tourist destination.
Billund Designer Outlet is strategically located within the Triangle Region with close proximity to three of the five biggest Danish cities Aarhus, Odense and Esbjerg. The site is less than 90 minutes from the German border with a catchment population of 2.3 million.
The property will total 20,400 m² GLA and provide 120 retail stores, five high-quality restaurants and additional leisure offerings. Once completed, the outlet centre will be open seven days per week to cater to local shoppers and visiting tourists.
The relaunch is a significant project milestone since Resolution Property acquired the site in 2017. The investor has started the formal marketing campaign to brands. Initial discussions with retailers prior to the formal relaunch has already resulted in Resolution Property leasing 10% of the shopping centre to an excellent mix of premium international and Scandinavian retailers. The investor has also an additional 20% under advanced negotiation. Resolution Property expects to secure 50% pre-letting by the end of 2018.
Mayte Legeay, Senior Asset Manager for Europe at Resolution Property, said: “Billund Designer Outlet is a significant step forward in our outlet strategy, focused on delivering top-quality factory outlets across Europe. Given the project’s highly sought-after, accessible location and its amazing surrounding touristic attractions, we have managed to secure a brilliant range of retail tenants. We are pleased to report we are actively marketing and in discussions with local and international retail and leisure providers, to ensure Billund Designer Outlet delivers the best possible tenant mix and highest-quality experience to visitors.”
Jan Harrit, Administration Director for Lalandia Billund, said: “We’re thrilled to partner with Resolution Property to relaunch the Billund Designer Outlet, which will introduce a much-needed, top-quality retail offering to the area. The retail project is a milestone for the region, complementing the already top-class leisure-focused attractions currently in Billund.”