New Grantham Designer Village looks forward to 2023 completion
Work has begun on the Grantham Designer Village Outlet, the £100 million investment that’s expected to provide up to 1,500 full- and part-time jobs at the Lincolnshire development.
Developed by property investor Buckminster and designer outlet retail specialist Rioja Estates, it’s described as a “blueprint for a modern designer outlet village in a digital age”. The 270,000 sq ft project is expected to be fully completed by summer 2023.
The outlet village is projected to achieve turnover of £400 per sq ft initially, rising to £500 per sq ft in Phase Two.
“With designer outlets having shown continued resilience, both before and coming out of the pandemic, the development is a clear vote of confidence in the sector and in the opportunity the site offers to brands”, Buckminster said.
The Designer Village is expected to feature up to 90 stores, restaurants and coffee shops in Phase One of the development, with up to 50 more retail units proposed for Phase Two.
Rioja Estates said it is in advanced talks with “household brands from across Europe that are expected to delight shoppers when the first names are announced later this year”.
Located at the heart of the East Midlands, it has 3.75 million people living within a 60-minute drive, and 4.5 million within a 90-minute drive.
Sir Richard Tollemache, chairman at Buckminster, added: “The Grantham Designer Outlet Village offers us not only the opportunity to create one of the UK’s most successful outlet retail destinations, but to build a better future for our community in Grantham”.
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