Shopping Centers Today International

MAR 2016

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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his past decade has been good for outlet shopping in europe. even as some full-price malls were buffeted by market saturation and the fall of europe's economy, brand outlet centers have seen one fruitful year after another. but will this continue? "every year since the financial crisis has been good for outlets, and i suspect that 2016 will not be any different," said Ken gunn, director of fsp retail business consultants, based in high Wycombe, buckinghamshire, england. "Yes, there are chal- lenges. Yes, economies go up and down. but historically, outlet has been per- forming at twice the rate of growth of full-price retailing for a long, long time, and i suspect that that will continue." T land of opportunitY DEVELOPERS, INVESTORS aND RETaILERS SEE ThE POTENTIaL fOR SCORES MORE OUTLET CENTERS aCROSS EUROPE By Bennett Voyles M a R C h 2 0 1 6 / S C T 39 all of which will provide grist for much discussion at icsc's european outlet confer- ence in london on March 22. it may be good in a different way, however. these days outlet developers are having a harder time finding good locations — far enough away from full-price shopping so brands do not cannibalize their own sales, and yet not so close to another center as to weaken its appeal, gunn says. these geographical constraints appear to be making the segment more attractive to in- stitutional investors. "We're seeing a lot more funds interested in the market," said giles Membrey, managing director of rioja developments, based in royal tunbridge Wells, just outside london, and which specializes in retail development and leasing. two or three years ago, most sales of existing assets would attract some half dozen bidders. now, he

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