The highly anticipated Grantham Designer Village Outlet is rapidly progressing towards its completion in 2023, marking a significant milestone for the Lincolnshire area. With a massive £100 million investment, the project is expected to generate approximately 1,500 new jobs, providing a substantial boost to the local economy.
Jointly developed by Buckminster, a prominent property investor, and Rioja Estates, a leading designer outlet retail specialist, the Grantham Designer Village Outlet is being hailed as a groundbreaking development that will set a new standard for designer outlet villages in the digital era. Spanning an impressive 270,000 square feet, this ambitious project is poised to be fully operational by the summer of 2023.
The outlet village aims to achieve an initial turnover of £400 per square foot, with projections indicating a potential increase to £500 per square foot in Phase Two. This strong confidence in the resilience and growth of designer outlets highlights the optimism surrounding the retail sector, even amidst challenging times. The potential of this location as a thriving retail destination is undeniable.
Upon completion of its first phase, the Designer Village will feature up to 90 stores, restaurants, and coffee shops, offering a diverse array of shopping and dining options for visitors. Plans for Phase Two include an additional 50 retail units, promising an even broader selection of retailers for consumers to enjoy. Rioja Estates is already in discussions with renowned European brands, hinting at an exciting lineup of retailers to be unveiled in the near future.
Located in the bustling East Midlands region, the Grantham Designer Village Outlet is strategically positioned to cater to a population of 3.75 million within a 60-minute drive and 4.5 million within a 90-minute radius. Such accessibility and convenience make it an appealing destination for both locals and tourists alike, ensuring a steady flow of visitors.
Sir Richard Tollemache, chairman at Buckminster, emphasized the importance of the project by stating, “The Grantham Designer Outlet Village not only presents us with the opportunity to create one of the UK’s most successful outlet retail destinations but also to forge a brighter future for the Grantham community.” This development represents a significant step forward for the area, promising not only a vibrant shopping hub but also a catalyst for economic prosperity and community advancement.
For more information on the Grantham Designer Village Outlet and its exciting developments, visit their official website here. Additionally, stay updated with the latest news and announcements by following them on social media platforms. Facebook | Twitter.
