Record figures posted by owner of Gloucester Quays
By James Young | 15th May 2019
More shoppers than ever before are using Gloucester Quays and it has led to a 10 per cent rise in revenues for the company that owns the development.
Lifestyle Outlets, part of Peel Land and Property, have revealed figures that buck the national retail trend, recording close to double digit sales growth for the year ending March 31, 2018.
Sales at Lifestyle Outlets two centres - Gloucester Quays and Lowry Outlet in MediaCity UK in Manchester - rose 9.6 per cent to £94.2million.
Footfall was also up, with the company reporting that the combined figure for the two centres was approaching 12 million for the year.
The rise in sales represents the third consecutive year-on-year sales growth above nine per cent, with Lifestyle Centres saying investment across the centres is paying dividends.
Jason Pullen, managing director for Lifestyle Outlets said: "We are naturally delighted to have achieved a significant jump in sales at the two centres and record footfall numbers.
"It is testament to the investment we continue to make and our vision to make outlets go-to destinations.
"They contain an exciting hybrid of retail products consumers can't buy online, a range of leisure attractions for families and are underpinned by a strong mix of food and beverage operators."
The company reported that menswear, outdoor and sportswear were the top performing categories, alongside homeware.
Their aim to have a balanced combination of leisure and entertainment attractions alongside a "strong retail offering" has "helped the position the centres as destinations."
Over the 12 months in question, Hugo Boss opened a 3,200 square foot outlet at the Quay while Adidas opened a 6,000 sq ft store, while Wagamama opened a 3,700 sq ft restaurant.
Lifestyle Outlets also reported that vacancy rates across the two sites fell to historically low levels.
Punchline says, this is great news for Gloucester. The Quays was and is a kingpin development for our city and it's great to see its owners recording record footfall.
Peel were committed to kick-starting the transformation of Gloucester, and even when the recession bit they carried on when others would have been put off.
All the wonderful developments we have seen since have been on the back of those decisions. Let's hope the good news keeps coming.
Copyright 2019 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.