It has been some time since my last annual update in 2019 and our world is now a very different place. Though the past year has arguably been one of the biggest challenges we have faced, both professionally and in our personal lives, I take tremendous encouragement when looking at just how far we have come since the pandemic first began.
It delights me to say that following the recent easing of restrictions in France, all 26 McArthurGlen centres are open and welcoming guests back for a memorable day-out once again.
In these times, I believe it is especially important that we celebrate the good things where we can, and that we look towards the future with hope and optimism. With this in mind, I would like to share with you some of the important milestones that we at McArthurGlen have been celebrating recently, and some that we are eagerly anticipating.
From myself and Julia – who in October became our new Vice Chairman – I would like to start by saying a heartfelt thank you to all of the wonderful people – our McArthurGlen colleagues as well as our brand and investor partners – for your extraordinary efforts in continuing to create the finest retail experiences for our guests and making each re-opening a success!
25 YEARS OF CREATING THE FINEST RETAIL EXPERIENCES
Serravalle, Italy
2020 marked a number of significant dates for McArthurGlen.
We celebrated the 25th anniversaries of our very first designer outlets to open in Europe – Cheshire Oaks in the UK and Troyes in France – while Serravalle, our centre near Milan, marked its 20th birthday by partnering with the Italian luxury heritage milliner, Borsalino, to release a limited edition Serravalle x Borsalino hat.
In February this year, our first ever centre in Spain – Designer Outlet Málaga – celebrated its first birthday. Despite having to contend with the unprecedented circumstances of multiple national lockdowns, the centre has gone from strength-to-strength in its first full year of business, welcoming more than 3 million guests and standing at almost 95% leased with a fantastic mix of brands.
We were also delighted to unveil our new 6,000 square metre Family Entertainment Area in Serravalle.
Together with Nuveen, APG and Allianz, we have delivered a €40 million investment programme at the centre that has introduced new cutting-edge leisure facilities, enhanced guest services and even more stores, all anchored by a waterpark – which is a brand-new concept for us!
Along with an innovative children’s playground, an indoor crèche and a picnic area, this state-of-the-art facility creates a new experiential element to our centre, providing our guests with even more reasons to visit us.
We have been fortunate to welcome not only a new flagship centre but a collection of exceptional brand partners to our portfolio too, while importantly still growing our strong partnerships with all our existing brands. Over the past year we have had the pleasure of opening new stores for Off White, Givenchy, Prada, Burberry, Celine, Lululemon, Moncler, Valentino and Ecoalf to name just a few.
We very much look forward to collaborating with you all in the months and years ahead to ensure that we continue delivering a safe and enjoyable day out for our guests that truly sets the standard for an unforgettable shopping experience.
FUTURE OPPORTUNITIES TOGETHER
Looking Ahead
Paris-Giverny, France
Remscheid, Germany
Remscheid, Germany
We are excited to have restarted construction on our next project, Paris-Giverny. This extraordinary development to the west of the French capital will be the first and only luxury designer outlet in this part of France and is located on the doorstep of Monet’s Giverny. The 20,000 square metre centre has been expertly designed to bring together international fashion, local culture and artisanal design. It will be our fourth designer outlet in France and is set to open in late 2022.
Remscheid, our fourth centre in Germany that is located in the populous North Rhine-Westphalia region, is currently in planning and is scheduled to open in 2024.
Should you wish to learn more about any of our exciting developments then I invite you to browse our new opportunities brochure here, or alternatively please contact Nick Brady, our Group Managing Director for Leasing.
West Midlands, UK
In April, alongside the re-opening of our six major British centres, we opened our highly-anticipated Designer Outlet West Midlands near Birmingham, bringing the total number of landmark retail destinations in our portfolio to 26.
Set to be the only stand-alone shopping centre to open in the UK this year, our latest designer outlet features a one-of-a-kind children’s adventure playground, luxury guest amenities, a dancing fountain and a Changing Places facility. We brought this fabulous project to life with our long-standing joint venture partner, Simon Property Group, and investors Aviva and the Richardson family.
In closing, I would like to thank you for your valued partnership, support and guidance during what has certainly been one of the most unsettling and difficult years across the world. I send my sincerest wishes to you and your families, friends and colleagues – and I hope that the next year brings you happiness, health and success. And perhaps one day soon we will be able to share a toast together.
