20 September 2011
LONDON DESIGNER OUTLET ADDS TWO MORE TO RESTAURANT LINE-UP Developer Quintain has announced further restaurant lettings at London Designer Outlet (LDO) at Wembley City. Pizza Express and Prezzo have both signed up, boosting LDO’s food & beverage offer which already includes Frankie & Benny’s, Handmade Burger Co and Jimmy Spice’s. London’s first bespoke designer outlet and the only one within the M25, LDO is the major retail and leisure element of Wembley City, the 85-acre landmark regeneration project that is transforming the land surrounding Wembley Stadium and Arena. In total 15 new restaurants, cafés and coffee shops will trade alongside 85 designer retail units and Cineworld, which has already signed a 25-year lease for a new ninescreen cinema that will seat up to 1,800 people.
Construction will start on site later this year (2011) with completion in 2013. Phil Cottingham, Managing Director of Retail at Quintain, commented: “LDO has been designed as a day out, lifestyle destination. A strong and varied restaurant and leisure offer is therefore a key element of our leasing strategy and we felt it was important to move ahead with these lettings at an early stage. More than 30% of the catering area space (GIA) has now been taken. The high level of interest from top quality operators reflects the success of food and beverage in designer outlets over the last 10 years. There is not doubt that there is considerable prestige associated with being part of London’s first. “We are now focused on securing our retail anchors – with a number of deals already in the advanced stages of negotiation. Then we will target the aspirational designer brands, as well as the emerging fashion and lifestyle labels looking to take their first step into the designer outlet sector.”
Occupier type
Occupier name
Space (sq ft)
Lease length
Restaurant
Prezzo
3,579 sq ft
20 years
Restaurant
Pizza Express
2,927 sq ft
25 years
Prezzo Chief Executive Jonathan Kaye said: "We are looking forward to opening a new Prezzo at London Designer Outlet when the scheme is launched in 2013. Our restaurants appeal to a wide cross section of people and we are sure that our LDO outlet will prove popular and successful. We are delighted to be part of such a high profile scheme adjacent to one of the UK's most iconic landmarks." Marc Ward, Group Head of Acquisitions at Pizza Express' parent company Gondola Group, said: "A retail and leisure scheme of this scale and quality is just what this part of London needs. London Designer Outlet was an obvious choice for us. We are very excited about the site, right on the doorstep of Wembley Stadium and Wembley Arena as well as the new council offices, multiplex cinema, retail and the other activity generators within the project.” Letting agents for LDO are CBRE and Bruce Gillingham Pollard.
ENDS Notes to editors: Wembley City is the transformation of 85 acres of land surrounding Wembley Stadium and Arena, creating a landmark mixed-use project, including homes, office and commercial space, a luxury Hilton hotel, an aparthotel, and the London Designer Outlet. An estimated 7,000 jobs and 4,200 homes are being created as a result of the development, and work on site is well underway. Quintain Estates and Development plc is a property investment and development company, listed on the London Stock Exchange. Quintain operates through two businesses: Fund Management and Urban Regeneration. Quintain’s retail portfolio will consist of 2m sq ft of retail parks, individual local needs units, designer outlets and boutique store space across the UK. Many of these will be within the company’s 20m sq ft of major regeneration schemes - Wembley City and Greenwich Peninsula - as well as within its Fund Management business. LDO key facts: • • • • • •
London Designer Outlet is a 350,000 sq ft new designer outlet destination being built in north west London, an integral part of Quintain’s Wembley City scheme London Designer Outlet is the only bespoke designer retail outlet within the M25, just 21 minutes from the west end, 15 minutes from London Marylebone by train, and one km from the north circular (A406) LDO will deliver up to 85 units of retail, up to 15 restaurants and bars, and a brand new nine-screen Cineworld cinema complex seating 1,800 people 8.4m people live within a 60-minute drive of LDO, while 782,000 people are within 20 minutes. 5.8m people have LDO as their nearest outlet centre – the largest catchment density for any UK outlet It is estimated that Wembley City will receive approximately 21m total visits a year LDO has a total of £3.4bn of available catchment spend. Per capita spend is 10% above the national average in the core catchment area. The ABC1 sub-total is 62.5%, over-indexing by 13% above the UK national average
For further information, please contact: Halogen Linda Welch T: +44 (0) 20 7087 3260 E: linda.welch@halogenuk.com