£4 million investment announced for The Outlet

£4 Million Investment Announced For The Outlet

Alastair Luke Planning

The Lotus Group, owner of The Outlet, has announced a multi-million pound investment to reinvigorate the well-known retail destination in Banbridge.

The investment will include the installation of a modern covering of the Mall, made from a transparent plastic membrane and a first for a retail park in Northern Ireland. It has been used in the Eden Project in Cornwall, Beijing’s National Aquatics Centre and FC Bayern Munich stadium.

Plans for the site will also include the recladding of all units and a new children’s play area. This investment will see dramatic changes to the look and feel of The Outlet as it currently sits. A decision on the planning application is expected to be brought forward soon.

It is expected that an additional 100 permanent jobs will be created following the improvements, with 20 jobs created during the construction period.

New tenants have recently arrived at The Outlet including a McDonald’s drive-thru, a nine screen Omniplex cinema, a Bench clothes store and a Smyth & Gibson store.

Alastair Coulson, Asset and Property Management Director, The Lotus Group, said today:

“When we bought The Outlet, we saw the opportunity to reinvigorate the site through capital investment with the installation of a covering for the walkways, a new children’s play area, as well as new cladding on all retail units. Customer surveys undertaken by the centre manager team and comments from retailers have highlighted the need for a covered walkway. The new covering will allow for a sheltered walkway to enhance the shopping experience at The Outlet.”

“We are confident that these improvements will not only give us a competitive edge, but will encourage new high-profile tenants to The Outlet and ultimately more choice for shoppers.”

“These improvements will build on the success we have already experienced since we acquired the scheme 9 months ago. We have enjoyed a growth of 27% in Sales Densities and a 26% increase in the number of shoppers visiting the scheme since we bought The Outlet. This has been attained by opening new stores, fully integrated marketing package including TV advertising and working closely with the retailers on their stock packages.”

He added:

This is a fantastic opportunity for the Banbridge area, bringing new and permanent jobs for local people, as well as indirect benefits to the local supply chain. We are hopeful that additional investment will follow after this re-development, attracting further brands that shoppers want.

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