TH Real Estate Expands Outlet Malls in China & Germany
- Sep 30, 2015
Guangzhou, China—TH Real Estate has announced the opening of new retail space at two designer outlet malls, Florentia Village Designer Outlet Mall in Guangzhou, China and the newly extended McArthurGlen Neumünster in Northern Germany.
Florentia Village Designer Outlet Mall is the first authentic Italian luxury outlet in southern China. Invested on behalf of Silk Road Holdings and managed by RDM Asia, the 1.3 million-square-foot (118,000-square-meter) property features more than 60 premium international brands, including Lacoste, Nike, Etro, Calvin Klein and Versace.
Silk Road Holdings, for which TH Real Estate acts as investment advisor, owns and operates two other designer outlet malls in China.
Located in the center of Guangzhou’s financial district, the Florentia Village scheme also marks the first wholly owned and operated foreign investment in southern China. Designed in an Italian classic architectural style, the mall boasts open-air complexes with squares, galleries, arcades and fountains.
TH Real Estate, on behalf of the European Outlet Mall Fund (EOMF) and co-owners McArthurGlen, also announced the opening of a new extension at McArthurGlen Neumünster. The expansion consists in 25 additional stores offering new brands such as Adidas, Diesel, Liebeskind Berlin, Calvin Klein, Comma, Tiger of Sweden, Rich & Royal and Jack Wolfskin. The center’s mix of luxury and lifestyle brands also includes Polo Ralph Lauren, Gucci, Armani, Furla, Boss, ESCADA, Versace and Lagerfeld.
Inspired by the local Schleswig-Holstein architectural style, McArthurGlen Neumünster first opened its doors to customers in 2012.
“Designer outlets have been one of the most widely misunderstood, but strongest performing, real estate sectors over the past decade and, relatively speaking, they thrived during the global economic downturn. Strong demand from international retailers means the occupier base is broadening and covenant quality is improving. Likewise, the investor base is deepening. Constrained supply, coupled with growing demand, should see continued rental growth and a long term structural improvement in investment pricing globally,” Mike Sales, head of TH Real Estate, said.
TH Real Estate has a well-established track record in outlet malls, having built up a more than $4.53 billion (£3 billion) global outlet mall portfolio across the UK, continental Europe & China.
Photo credits: www.florentiavillage.com