A major business development transforming land at a junction of the M5 motorway in Gloucestershire, which is expected to generate £ 3.6 billion a year in revenue, has taken another milestone.
Site owner and developer Robert Hitchins has appointed Realm Store Manager to pre-lease the 90-unit, 195,000 square foot Cotswolds Designer Outlet and operate when it opens.
According to the Gloucestershire developer, the mall is “on track” to launch in 2023 and Realm’s rental team “is already in talks with major international designer brands, which they will look to complement with companies. independent local ”.
Christine Grace, Director of Leasing at Realm, based in Somerset, said: “The outlet sector offers a healthy potential income profile for investors and brand partners and this new program is already gaining attention. world-class brands eager to leverage this brand -new destination in what is a prime location. ‘
The center, off the A46 at junction 9 of the M5 in Ashchurch, will be installed alongside a 74,000 square foot Dobbies Garden Center and 850 new houses adjacent to the site.
Simon Tothill, director of real estate and development at Robert Hitchins Ltd, which employs nearly 50 people at its Boddington head office, said “the infrastructure work on site is progressing well” and that the end result would be a “new leading destination in the industry”.
By Andrew Merrell
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Wednesday, July 21, 2021