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Gloucestershire Business News

SPECIAL REPORT: Gloucester Quays still on the rise after 15 years

Gloucester Quays has announced more record breaking figures as it celebrates its 15th anniversary.

But owner Peel Retail & Leisure has still not commented on reports it will be putting the centre on the market for £85m.

Instead it has been hailing a 11% rise in sales at the outlet between April 2023 to March 2024 with footfall increasing 7%.

Peel said the figures suggested the outlet is not only attracting more customers but a higher average spend as well. This is further evidenced by car park use, which was up 14% on the previous year.

Paul Carter, asset director at Peel Retail & Leisure, said it had grown throughout last year's "challenging retail environment" and now "raised the bar again".

He added: The increases are a clear indication that our visitors are dedicated to spending their time and money at Gloucester Quays."

The latest addition to the centre, due to open today (April 22) is a valeting service by Birmingham based business Inter Car Cleaning (ICC). Founder Darren Avery wrote on LinkedIn: "Our new location at Gloucester Quays. Will be opening this coming Monday 22nd. Thanks To Owen and the rest of the team on site for all your help we can't wait to get started."

Leading the sales increase was the destination's retail offer, with a 12% rise bolstered by brands Next and Puma being added to the shopping centre and upsizes for Mountain Warehouse, Hallmark and Yankee Candle.

Food and Beverage revenue also rose year-on-year by 9.5% with coffee shop sales leaping by a huge 17%. Bosses said this highlighted the increasing importance of cafes as part of an all-day shopping experience.

Restaurants generated a sales uplift of 6.6%, supported by the addition of Turkish brand Anatolian Palace.

The company has stayed silent on reports it is preparing to put the centre back on the market  with estate agents Cushman & Wakefield for £85m. No listing has appeared on the agent's website and it has not responded to a request for a comment.

The latest financial information on Companies House on Peel Outlets (Gloucester) Ltd for the year to March 31, 2023, shows the company made an operating loss of £5.39m compared to a loss of £2.32m the previous year.

Despite this, the report states that parent company, Peel L&P Outlets Group Limited will: "continue to provide the necessary level of support to enable the company to continue to operate for the 12 months from signing the financial statements."

The outlet centre was built on the former site of Fielding & Platt engineering works with an investment of £248m, which was the catalyst for major regeneration of the city.

It was opened on May 30, 2009 by Gok Wan, starting with 40 stores and at first struggled due to the recession.

It continued to expand and was bolstered by the £60million Quayside development in 2013 which saw Cineworld relocate from the Peel Centre and the opening of another 11 restaurants and bars including Zizzi's and Chimichanga.

Plans announced in 2018 to invest £6m into transforming the top deck of the centre into more shops fizzled out.

But Peel has continued to attract new brands to the outlet and today it has around 51 stores and 16 places to eat and drink.

Mark Whittaker, executive director at Peel Retail & Leisure, said: "When Gloucester Quays first launched in 2009, it did so amidst the most difficult economic circumstances, with the impact of the global recession being sharply felt.

"Fast forward 15 years and it's clear to us that we have a format that has enduring appeal, taking Gloucester Quays from a designer outlet many commentators thought wasn't needed, to one of the best performing in the country and a vital part of this historic city.

"We're proud of the journey the destination has taken, and this landmark moment, alongside record performance, only gives us more reasons to be excited about the future of Gloucester Quays."

Punchline says: "We want to congratulate the Gloucester Quays team and Peel Holdings on the 15th anniversary.

"There are those in the city that like to blame the Quays for its decline but we feel that is unkind.

"The Quays has been a catalyst for change. Peel took a derelict area and transformed it into a destination that people travel to from as far as Bath, Birmingham and Scotland, which we never had before.

"They built it in the recession and survived Covid and Peel has stuck with us and created thousands of jobs for people in Gloucester and attracted brands like Crew, White Stuff, Fat Face and others that would never have come to the city otherwise."

"Events like the Food Festival, Tall Ships and the Ice Rink have only added further to the city.

"The problem has always been getting Quays visitors to make that leap into the city centre but hopefully that will change with the Food Dock and Blackfriars project.

"Regeneration can take a lifetime but they are getting there and should be applauded and celebrated for their continued investment and belief in the city."

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