PHASE 3 EXTENSION FOR SPRINGFIELDS OUTLET
Springfields Outlet in Lincolnshire has once again demonstrated its resilience, achieving positive trading stats in the first quarter of 2019 and across Easter school holidays. The leading shopping and leisure destination in the East of England, spanning from Peterborough and Lincoln to Kings Lynn and Stamford, has also announced a major new investment into the centre with an allocation of space granted for a 19-unit extension.
£18m investment into Phase 3 extension announced
- Major new investment will allocation of space and change of use of space agreed
- Proposed new development to add 50,000 sq ft including 19 retail units and 4 restaurants and cafes
- Car parking space to increase dramatically plus introduction of electric vehicle chargers
- Planning consent expected to be granted August 2019
Continued resilience of the outlet destination
- 14 years of consecutive turnover growth
- Average occupancy rate of 98%
- 3rd highest market potential sales density of any outlet in the UK
- Integrated leisure offer and varied events programme attracts more visitors from further afield
Recent trading reinforces outlet bucking the trend
- Total Easter revenue increased by +4%
- Year of year +9% revenue growth in Q1
- Year on year +5% increase in footfall in Q1
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