TORG International has partnered with leading UK outlet developer Rioja Estates for the development of two new outlets in Sweden and the UK, Malmo Designer Village and Grantham Designer Outlet Village. Both schemes have already secured planning consent, with Grantham being under construction with the opening scheduled for Autumn 2023. The Malmo outlet is expected to open in Summer 2025.
Conveniently located in close proximity to the Danish border, Malmo Designer Village benefits from a significant catchment area. The scheme is expected to rank in the top 25% of outlet centres in Europe in terms of traffic and is predicted to generate above-average sales density.
Grantham Designer Outlet Village is located on the country’s third most travelled motorway, the A1 connecting London with Northern England, and is projected to attract 3.5 million visitors annually. A lack of retail competition in the immediate area means that Grantham Designer Outlet Village will achieve significantly greater penetration of its catchment than the UK outlet industry average of 3%, namely for Phase One 7.7% and for Phase Two 8.5%.
Says Robert van den Heuvel, Partner Development & Leasing TORG International: “It was at Mapic 2021 that we established this new collaboration with Giles Membrey and his team at Rioja Estates, whom we have known for many years. We were impressed by the quality of their two latest developments in Sweden and the UK and are therefore delighted to be able to share our enthusiasm with the tenant community and industry at large.“
Adds Barbara Horatz, Partner Marketing & Retail TORG International: “We feel that both developments meet all the key criteria for a successful future outlet - the strategic location on a major motorway axis, important catchment, strong tourism potential, significant size, qualitative and sustainable architecture. There are not many strategic spots left in Europe for outlet developments and we definitely consider Malmo and Grantham as two of them.”
Concludes Giles Membrey: “We see Malmo and Grantham as the beginning of a great collaboration for our two companies - there are many more opportunities for joint outlet developments that we see ahead of us and that we are already discussing, be it in Europe or in any of the other major markets globally.”