London Designer Outlet (LDO), currently under construction at Wembley City, has today announced it has secured deals with M&S, Superdry and Guess to occupy units at the site.
Marks & Spencer (M&S) will take the biggest share of the 350,000 sq ft area in North West London with a 21,108 sq ft unit, followed by Guess with 3,636 sq ft of space and Superdry with a 3,676 sq ft unit.
Quintain Estates and Development (Quintain), the property investment and development company, is hoping to draw interest from more luxury market retailers, with plans already underway to include a Hilton Hotel, Cineworld cinema complex, Prezzo and Handmade Burger Co. Restaurants.
Phil Cottingham, Head of Retail at Quintain, commented: “LDO has been designed as a leisure and lifestyle destination that will serve the local catchment as well as ‘day-trippers’ and tourists visiting London, which will be reflected in the tenant mix.”
Seen as a project to rejuvenate the area which shares space with Wembley Arena, it will hold a total of 85 retail units and offer key links to the city by train, part of its promise to be an unrivalled bespoke retail designer outlet within the M25.
In November 2011, Quintain exchanged contracts with Gap and Nike as part of the major expansion of the area and 50 per cent (by year one base rent) has either already been exchanged or is currently being dealt with by solicitors more than 12 months ahead of the opening in Autumn 2013.
As the first outlet of its kind in London, Quintain believes it will be visited by approximately 12 million shoppers annually, boosting its offering with a varied tenant mix including eateries Pizza Express, Prezzo and Frankie & Benny’s.
Participating retailers will welcome this visitor forecast, particularly M&S, which this week reported an annual fall in profits for the first time since 2009.
Cottingham welcomed the high street stalwart to the outlet, commenting: “The initial phase of the leasing programme focused on establishing a strong food and beverage offer at LDO, followed by securing the cornerstone retail brands.
“We are delighted to have secured Marks & Spencer, one of the UK’s leading retailers, alongside Nike and Gap, as well as established fashion brands Superdry and Guess.”