A new retail development opposite Wembley Stadium in central London has announced today that US fashion retailer Gap and global sports brand Nike have signed up as its first anchor tenants.
London Designer Outlet (LDO) is currently under construction on the Wembley City site, which houses the international sports stadium and events arena of the same name, and will eventually house 85 designer retail shops, a nine-screen Cineworld cinema and 15 catering units.
Nike has taken a 9,182 sq ft store in a prominent ground floor location in the LDO while the new Gap store will be situated on the first floor of the centre, which is expected to be complete by 2013.
Phil Cottingham, Managing Director of Retail at LDO developers Quintain, said: “Now we have also signed Gap and Nike – two globally-recognised 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 per cent of the scheme is let or in advanced stages of negotiation and we are still two years ahead of opening.”
Cottingham also confirmed that several restaurant chains had already signed up to the centre during the first period of letting, including Pizza Express, Prezzo, Frankie & Benny’s, Handmade Burger Co and Jimmy Spices.
Part of a wider development of the Wembley area, LDO is set to become the only designer outlet centre inside the M25 and will have an estimated projected catchment spend of £3.4 billion once it is completed.
Events and leisure activities are becoming increasingly important to retail centres, just look at Bluewater in Kent which has just constructed a new concert and events area, making the Wembley site prime real estate for a new shopping build.
George van Vugt, Director of 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 centre in 2013.”