Swindon Designer Outlet for sale as part of £600 million sale with Cheshire Oaks

Swindon Designer Outlet for sale as part of £600 million sale with Cheshire Oaks

In July we revealed that Gloucester Quays Designer Outlet Centre is up for sale. Now we learn that Swindon Designer Outlet has been put up for sale by its American asset management owners Nuveen, along with Cheshire Oaks.

Together, the outlet centres have a combined floor space of more than 650,000 sq ft and commercial property agents Morgan Williams have been appointed to handle the sale.

The sites were developed by McArthur Glen more than 20 years ago and acquired by Nuveen in 2008.

Swindon Designer Outlet opened in 1997, with a second phase in 1999, just a 15-minute walk from Swindon train station. In 2015 the then-owners, McArthur Glen, invested a further £40 million in the historic Long Shop building to create an expanded, new-look centre, with 250,000 sq ft (23,000 m²) of retail space and 123 stores,

The Swindon Designer Outlet is housed in the beautifully renovated Grade II listed buildings of the Great Western Railway Works and is one of the largest covered designer outlets in Europe.

Gloucester outlet centre is owned and managed by Peel L&P, which has 12 million sq ft of property in its portfolio, most of which is concentrated in the north west of England, but it also owns and manages assets throughout the UK with a total portfolio value of £2.6 billion.

While two outlet centres are up for sale, along the M5, another one is being built.

Led by Cheltenham property developer Robert Hitchins, the development will feature a designer outlet and lifestyle retail destination, a flagship garden centre, much-needed homes and a range of local amenities.

The Designer Outlet Cotswolds retail scheme will provide up to 90 shops, restaurants and cafés in a Cotswold-style village environment. The development will include the largest Dobbies Garden Centre in South West England and 850 homes complete with a school, local centre and recreation facilities.

Work finally begins on Designer Outlet Cotswolds near Tewkesbury