HAPPY CHRISTMAS FROM SPACE
Springfields Outlet has once again demonstrated its continued resilience, bucking trends when compared to full-price retail destinations, reporting positive trading and footfall stats for the Black Friday trading period. From Monday 25th November to Sunday 1st December 2019, footfall rose by +5% when compared with the same period last year. Additionally, the leading shopping and leisure destination in the East of England achieved total revenue growth of +6% year-on-year.
The same week was the busiest sales week on record for Springfields, beating last year’s record by +3%. Every category at the destination reported increased trading stats with fashion and beauty retailers such as Crew Clothing, Joules, Jack Wills, The Cosmetics Company Store, Next Outlet and The Body Shop performing especially well, with stores trading up to +51% on a like-for-like basis.
Springfields Outlet has achieved 14 years of consecutive revenue growth since opening in 2004, with an average occupancy rate of 98%.
Ian Sanderson, Director at SLR, which developed and asset manages the scheme, said: “The strong trading performance Springfields is experiencing is testament to the environment at the destination. Providing a family day-out experience with something that appeals to people of all ages, the integrated and complementary leisure and dining facilities create a real point of difference. Attracting visitors from a really broad catchment, with significant numbers travelling more than 90 minutes, it’s a real destination for the East Midlands and parts of East Anglia. This is evidenced by the trading and footfall stats which illustrate how positively Springfields is trading in comparison to the wider, full-price sector.”
To complement the integrated leisure offer, Springfields hosts a regular and varied series of events throughout the year. This Christmas, to support the retailers during a key trading period, Springfields is hosting Wonderland Walk, a free, festive immersive light experience set in the award-winning onsite Festival Gardens. Younger visitors can also meet Father Christmas in the Springfields Grotto where each child will receive a gift and a free Santa hat from independent retailer, Starlings Toy Outlet. The retailer, which opened at Springfields in August 2019, has been trading exceptionally well since launch and continues to far exceed expectations. The brand has introduced an experiential Lego corner, further boosting the leisure offer at the destination, which sits alongside its wider selection of top-brand children’s toys including a huge Lego offer, Playmobil, Hot Wheels, Barbie and Fisher Price.
The 200,000 sq ft scheme is home to 50 outlet stores such as Jack Wills, Joules, White Stuff, Fat Face, Crew Clothing, The Cosmetic Company Store, Gap, Next and Skechers. With 25-acres of leisure attractions set in beautiful landscaped award-winning gardens. The combination of facilities; retail, dining and leisure is a crucial aspect in creating the complete package which appeals to a variety of customer groups and emphasises the experiential nature of the destination.
Located in south Lincolnshire, the 45-acre retail and leisure scheme is on the junction of the A16 and A151, close to the junction with the A17 providing easy access to Peterborough, Stamford, Nottingham, Lincoln and Kings Lynn. The catchment includes East Anglia, Cambridgeshire and the East Midlands.
Further demonstrating the success of the scheme, it has been announced that £18 million will be invested into a new extension at the centre. The planning allocation of space and change of use has been agreed for the new phase. The proposed design will add an additional 50,000 sq ft of retail and casual dining space, and some 19 new units, attracting opportunity for further brands at the centre.
Owned by the Triton Property Fund, managed by UBS, the scheme has recently undergone a repositioning programme. This has helped to attract new retailers and new customers from within its wide principal catchment and is further increasing tourist numbers visiting.
Agents for Springfields Outlet are SPACE Retail Property Consultants and Knight Frank.
For more information please contact Peter Leverett