TH Real Estate has announced the opening of new retail space at two designer outlet malls, Florentia Village Designer Outlet Mall in Guangzhou, China and the newly extended McArthurGlen Neumünster in Northern Germany.
Invested on behalf of Silk Road Holdings and managed by RDM Asia, Florentia Village Designer Outlet Mall is the first authentic Italian luxury outlet in southern China. The 118,000 m² (approx. 1.3 million ft²) scheme boasts more than 60 top international brands, including Lacoste, Nike, Etro, Calvin Klein, and Versace. It is the third designer outlet mall in China owned by Silk Road Holdings, for which TH Real Estate acts as investment advisor.
The outlet represents the first which is wholly owned and operated by foreign investment in southern China.
Guangzhou is a tier one Chinese city and Florentia Village is located in the centre of the financial district. Inspired by Italian classic architectural style. It boasts open-air complexes with squares, galleries, arcades and fountains creating an Italian-style shopping experience.
Additionally, on behalf of the European Outlet Mall Fund (EOMF) and co-owners McArthurGlen, a new extension at McArthurGlen Neumünster has now opened. The expansion adds a further 25 stores which will add to the centre’s mix of premium, luxury and lifestyle brands including Polo Ralph Lauren, Gucci, Armani, Furla, Boss, ESCADA, Versace, and Lagerfeld. New brands will include Adidas, Diesel, Liebeskind Berlin, Calvin Klein, Comma, Tiger of Sweden, Rich & Royal, and Jack Wolfskin.
First opened in September 2012, McArthurGlen Neumünster takes inspiration from the local Schleswig-Holstein style of architecture, thereby complementing the local area.
Mike Sales, Head of TH Real Estate says:
“TH Real Estate has a well-established track record in outlet malls, having built up an over €4 bln (£3 bln) global outlet mall portfolio across the UK, continental Europe, and China.
Designer outlets have been one of the most widely misunderstood, but strongest performing, real estate sectors over the past decade and, relatively speaking, they thrived during the global economic downturn. Strong demand from international retailers means the occupier base is broadening and covenant quality is improving. Likewise, the investor base is deepening. Constrained supply, coupled with growing demand, should see continued rental growth and a long term structural improvement in investment pricing globally.”
Source: TH Real Estate
