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Cheshire Oaks Designer Outlet Announces Start of Construction on New Phase
5th February 2018 – Cheshire Oaks Designer Outlet Announces Start of Construction on New Phase. UK’s largest designer outlet to add 25 new luxury and premium brands.
- 40,000 sq ft. extension will open during Autumn 2018
- Over £40 million to be invested in the centre
- 25 new designer and premium brands
- 300 further jobs created at the centre
- 300 additional parking spaces
McArthurGlen Designer Outlet Cheshire Oaks has today announced that construction on the much anticipated 40,000 sq ft. extension will begin in February, marking an exciting new chapter for the UK’s largest designer outlet owned by TH Real Estate. The new phase will introduce an additional 25 new premium fashion and food and beverage brands, bringing the total number of stores at the centre to over 170.
The new phase will be the centre’s sixth expansion since the designer outlet opened in 1995, underlining the strong and continued growth of one of Europe’s leading retail and leisure destinations, which now welcomes over eight million visitors a year.
Kenny Murray, Centre Manager at McArthurGlen Designer Outlet Cheshire Oaks, said: “This is an incredibly exciting time for Cheshire Oaks Designer Outlet as we embark upon our latest extension to the centre which will see over £40 million invested in expanding and upgrading facilities over the coming year. Once complete, visitors will be able to enjoy some 400,000 sq ft. of premium shopping space and an even greater mix of fashion, lifestyle and restaurant brands. We’ve continued to enhance the brand mix following a strong couple of years, and this latest phase is the next step in creating an even better shopping experience for our local catchment as well as our short and long haul visitors from Europe and beyond.”
Completing in Autumn this year, the extension will deliver an extra 300 parking spaces for visitors, taking the total number to 3,200. A year-round community space will be expanded and enhanced, while a new guest welcome centre, Premium Lounge, exciting children’s play area, additional guest toilets and a ‘Changing Places’ facility will also be delivered. The introduction of a new footbridge will improve access for both guests and the 2,600 staff who work at Cheshire Oaks. The new phase is also expected to create up to 300 additional jobs at the centre and generate further economic benefits for the local area.
Chris Farrow, Chairman of the Ellesmere Port Development Board, said: “We are very proud to have Cheshire Oaks Designer Outlet, the largest Designer Outlet Village in the UK, on our doorstep here in Ellesmere Port. This is an exciting time for Ellesmere Port with this new phase of development generating additional employment for the town adding to the many fantastic reasons to live in Ellesmere Port, not least the unbelievable value for money, host of family attractions, incredible shopping and some excellent green spaces.”
Councillor Brian Clarke, Cabinet member for Economic Development and Infrastructure, said: “Cheshire Oaks Designer Outlet Village contributes to the fantastic growing visitor economy that we have here in Cheshire West and Chester, offering a fabulous attraction for visitors. This investment in further development of the centre will offer increased employment opportunities for hundreds of local people and help drive further economic growth for the town.”
Justin Madders, MP for Ellesmere Port and Neston, said: “This significant investment is to be welcomed; the creation of so many new jobs is a real positive and marks out Cheshire Oaks as one of the biggest employers in the region. It is clear that the good reputation Cheshire Oaks has stretches worldwide which is testament to the hard work and professionalism of everyone involved.”
Leading UK construction firm Mace will serve as the main contractor for the extension. The company boasts a strong portfolio of commercial projects that include John Lewis’ new flagship store in Leeds. Initial works will commence at the start of February.
Kenny Murray said: “While it’s too early to reveal any names, we are committed to expanding the extensive retail offering. In the past two years alone we’ve introduced highly sought-after brands including Cath Kidston, Puma and Karl Lagerfeld.”
About McArthurGlen Group
McArthurGlen Group, Europe’s leading owner, developer and manager of designer outlets, was founded in Europe by Kaempfer Partners in 1993. The pioneer of designer outlet retailing in Europe, McArthurGlen has since developed 6.8 million sq ft of outlet space. The company manages 24 McArthurGlen Designer Outlets across nine countries: Austria, Belgium, Canada, France, Germany, Greece, Italy, the Netherlands and the UK.
The centres are home to the most sought-after luxury and premium brands, and offer fashion-loving customers year-round savings in vibrant, high-quality shopping environments. In 2013, McArthurGlen became a joint venture between the Kaempfer Partners and Simon Property Group Co. (NYSE SPG), the world’s largest retail property owner. As part of its on-going expansion, McArthurGlen is also under way or in planning with new designer outlets in: Cannock (near Birmingham in the UK), Remscheid (near the German cities of Cologne and Düsseldorf), Málaga (southern Spain) and one near Paris (Normandie). For more information, please visit http://www.mcarthurglengroup.com/
About TH Real Estate.TH Real Estate, an affiliate of Nuveen, the investment manager of TIAA, is one of the largest real estate investment managers in the world with $107bn in AUM. Managing a suite of funds and mandates spanning both debt and equity across diverse geographies, sectors, investment styles and vehicle types, we provide access to every aspect of real estate investing. With over 80 years of investing experience, and more than 500 real estate professionals located in over 20 cities throughout the US, Europe and Asia-Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise.
Our investment, asset management and corporate strategies grow from a deep understanding of the structural trends that we believe will shape the future of real estate and responsible investing beyond market cycles. This ‘Tomorrow’s World’ approach sits at the core of our investment process and business operations, informing our long-term view of real estate investments for the enduring benefit of both clients and society.
AUM figures as at 30 September 2017