Credit: Realm

Realm demonstrates the enduring strength of outlet proposition with 140,000 sq ft of deals

Activity demonstrates retail and F&B occupier confidence in physical outlet retailing, which continues to weather the pandemic storm.

In some ways it has been business as usual as Realm, the specialist independent asset manager, has delivered 29 new leases and regears in 2020/1 across its outlet centre portfolio. With non-essential retail reopening in April, it has served as an opportunity to reflect on another busy year for the operator and their in-house leasing team who have successfully negotiated with current and new occupiers across several categories that include fashion, health & beauty, athleisure and F&B.

The deals totalling 140,000 sq ft across the country and demonstrate that the outlet proposition is still teaming with opportunity and resilience if it is well managed and maintained. Livingston Designer Outlet has boosted its athleisure, fashion and footwear line up with Champion, Dune and Jack and Jones. London Designer Outlet in Wembley has also increased its fashion offering with a total of 36,000 sq ft of leases agreed, including a significant expansion of its sports and athleisure line-up. Elsewhere, Dalton Park in County Durham has diversified its tenant mix through new deals agreed with the supermarket Morrisons, alongside Costa Coffee, Molton Brown and Cotton Traders. 

Christine Grace, Leasing Director, at Realm, said: “Business has continued as usual in many ways as the Realm leasing team has continued to successfully promote and negotiate new deals with brands to take space in our portfolio. What has changed is the way we have liaised with potential occupiers using technology: deploying 360 degree virtual tours of our schemes and showcasing individual units remotely when protocols dictated that a face to face viewing was not possible. With these challenges and fewer trading periods last year, the volume of leases we agreed across Realm’s portfolio seems all the more impressive and ultimately demonstrates a resolute vote of confidence in the outlet offering from the brands that we have been speaking to.”

Realm-managed outlets in the UK saw a significant and rapid bounce-back when reopening between lockdowns last year, with a rapid return of footfall levels to 85% on the previous year, which compared very favourably to full price shopping centres. The resilient performance of physical outlet destinations is a timely endorsement that the Realm portfolio offers a much needed and popular leisurely and rewarding retail experience which cannot be replicated online. 

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Realm banks on F&B occupier growth with key appointment

Realm has grown its leasing team with the appointment of Caroline Helyer as leasing manager. Caroline will be working across several of Realm’s schemes – including Dalton Park, Milsom Place and Bedford Riverside – where she will be leading initiatives to secure new retail lettings and lease renewals, as well as enhance the customer shopping experience and F&B offering across the portfolio.

redos buys Äppelallee-Center retail warehouse in Wiesbaden, Germany

Hamburg-based large-scale retail property specialist redos Group has acquired the Äppelallee-Center in Wiesbaden near Frankfurt. The purchase was made on behalf of the special AIF "Redos Einzelhandel Deutschland III".

PINKO will open store in Ocean Plaza Shopping Mall in Ukraine

The Italian brand PINKO will open the second store in Ukraine in Ocean Plaza shopping mall. The exclusive distributor of the brand is ARGO. The new store with an area of ​​160 sq.m. will open its doors on the first floor in May. A wide range of women's clothing, shoes and accessories will be presented.

Sabine Georgi Appointed as ULI Germany/Austria/Switzerland Executive Director

Sabine Georgi joins the Urban Land Institute (ULI) from Royal Institute of Chartered Surveyors (RICS).

Acquisition of The Moor, Sheffield in a Joint Venture with BRAVO

NewRiver is pleased to announce that its joint venture with BRAVO Strategies III LLC in which it holds a 10% stake has exchanged contracts to acquire The Moor, a 28 acre estate in Sheffield city centre, from CEP ASI UKPF Nominee 1 Limited and CEP ASI UKPF Nominee 2 Limited, for total consideration of £41.0 million, representing a capital value of £60 per sq ft.

Ziv Gigi appointed as Managing Director for GTC’s operations in Romania

GTC has announced the promotion of Ziv Gigi to the position of Managing Director Romania. He will be responsible for all operations of GTC in the Romanian market.