Resolution Property has formed a joint investment with Lalandia to develop a €120m Designer Outlet project in Billund, Denmark, which is set to open in 2019. Resolution will be the majority partner in the outlet center joint venture, operating 90%, with landowner the well-known Danish holiday village operator Lalandia, accounting for the remaining 10% share.
The joint venture will own the development site, which benefits from building permission for 20,000 sq m of outlet retail over two phases. Construction of the 12,084 sq m Phase 1 is expected to start early 2018, completing in Spring 2019, while the 8,496 sq m Phase 2 is scheduled to begin in early 2019 with completion in Autumn 2020.
Billund Designer Outlet is strategically located within the Triangle Region with proximity to three of the five biggest Danish cities Arhus, Odense, and Esbjerg. The site is less than 90 minutes from the German border with a catchment population of 2.3 million.
The site is adjacently located to LEGOLAND Billund Resort, the Lalandia Holiday Resort with 880-holiday homes, Lalandia Aquadome, and three tourist hotels. There are approximately 3 million visitors in Billund annually, and the site is only 5 minutes away from Billund International Airport, the second largest airport in Denmark with over 3 million travelers annually.
