Sanderson Leisure and Retail (SLR), which is asset managing and overseeing the running of Springfields Outlet in Lincolnshire, has unveiled plans for a €1.4m (£1.2m) investment into the expansion of the innovative leisure offer in the East of England. The expansion work, already underway and due for completion in early summer, will provide an extensive range of family-friendly attractions to complement the mixed-use destination's strong retail offer. The new leisure facilities have been designed to increase footfall by appealing to a broader customer base.
Ian Sanderson, who developed the scheme, now Director of SLR, said: "Springfields Outlet is the leading shopping and leisure destination in the East of England. The enlarged leisure area will build further on our reputation. Since opening in 2004, we've experienced 13 years of consecutive turnover growth. FSP research has shown that Springfields Outlet has the third highest market potential sales density of any outlet in the UK. By introducing more innovative leisure attractions, we will appeal to even more families, creating a forward thinking and innovative destination which will delight tourists and customers looking for a great day out, with plenty of variety to entice them back, again and again."
Springfields Outlet is being rebranded to create a distinctive identity to attract new, more affluent customers, with the leisure area renamed Springfields Adventure Land. Springy's American Diner will complement the new leisure development, and offer delicious American burgers, fries and shakes plus a great range of gelato-style ice-cream, with three party rooms for hire. This will boost the existing line-up across the site which includes Frankie & Benny's, Starbucks, Caffé Nero plus The Noshery restaurant located within the Blue Diamond Home and Garden Centre.
The owner, UBS Asset Management's Triton Property Fund LP, is firmly committed to realising the embedded potential of Springfields and to further improving the scheme. Alongside improvements to the retail offer, and delivering a new leisure experience to enhance its 'best in class' customer experience, new leasing agents have been appointed. The award-winning team at SPACE - Retail Property Consultants will work alongside retained agents, Knight Frank.
Located in south Lincolnshire, the scheme is easily accessible, and sits close to the junction of the A16 and A17, near three major arterial roads providing easy access to Peterborough, Stamford, Nottingham, Lincoln and Kings Lynn. The catchment of 1.24 million is expected to increase by a faster rate than the UK average, up +8.1% to 2025, compared to +6.5% nationally.
Since launch, Springfields Outlet has an average occupancy rate above 98%. The scheme includes 54 outlet stores, nine restaurants, a 58,000 ft² garden centre and a 43-bedroom hotel.
