Resolution Property has expanded its operations in the European retail sector, opening its first overseas office in Paris and recruiting one of Europe’s leading outlet specialists.
These moves follow a series of successes across Resolution’s outlet centre portfolio and will help prepare the business for its planned future expansion across Europe.
To capitalise on strong performance and support further growth, Resolution Property is pleased to announce the appointment of Mayte Legeay to the Asset Management team. Mayte will oversee the asset management of the current portfolio of outlets under the company’s management, including Designer Outlet Soltau in Germany and Honfluer Normandy Outlet in France, as well as the leasing and eventual development of Billund Designer Outlet in Denmark. Legeay is the former Head and Business Development Director for Neinver France, the leading European developer, investor and fund manager. She joins Resolution to help progress its well-established position as leaders in creative, design-led refurbishments and developments and will be based in the company’s new Paris office, its first outside the UK.
Resolution Property is actively seeking new retail investment opportunities across Europe, focusing on outlet centre assets, especially in Scandinavia and western Europe. It expects to invest up to €200m over the next 3 years, targeting assets where hands-on asset management or creative development can release additional value.
Resolution’s portfolio highlights in the last 12 months include:
· Completion of the first phase of its 19,000 sq m Honfleur Normandy Outlet, having signed up top retailers including Galeries Lafayette, Triumph, Pepe Jeans, Levi’s, Lindt, Haribo and Nike. The centre’s 13,000 sq m first phase completed with c.60% leased to more than 30 brands.
Resolution Property is working with operator Advantail to deliver more than 100 fashion and designer stores in total and three restaurants. Scala Build have been appointed as joint letting agents alongside Advantail to complement the latter’s strength in the French market with coverage in Germany, Italy, Portugal and Austria. With a catchment population of 2.5 million and no competing centre within a 90-minute radius, Honfleur Normandy Outlet will be the first outlet centre in the Grand-Ouest region of France. Open seven days a week, 365 days a year, it is expected to welcome over two million shoppers annually.
· The formation in June 2017 of a joint venture between Resolution Property and Lalandia to develop a €120m designer outlet project in Billund, Denmark, which will be the largest outlet centre in Scandinavia. Pre-leasing is currently underway for phase one, which will comprise 12,500 sq m and is set to open in 2019. Stable International has been retained as the management operator and will work alongside Scala Build as leasing agents. HMA has been appointed as the architect.
- The sale of the 23,000 sq m Rosada Fashion Outlet in Roosendaal, Netherlands to McArthurGlen in March 2017 – this marked the successful conclusion of Resolution Property’s four-year repositioning and asset management strategy for the asset, delivering close to 70 new lettings, lease renewals on more than 50% of lettable area and a newly-developed 7,500 sq m Phase II extension.
Source : Company