Resolution Property has commenced work on an 8000sqm extension of the Rosada Fashion Outlet, located in Roosendaal, Netherlands.Phase II will include 900 car spaces and 45 new units, due for completed during the first part of 2016.
Rosada Factory Outlet is owned by Resolution Property and managed by Stable International. It offers consumers more than 70 stores, along with more than 120 brands. It is popular among Dutch, as well as Belgian consumers as it is placed close to Antwerp, Breda and Rotterdam.
The latest brand to enter the center into a brand new 195sqm store is Desigual, which is due to open later in November 2014. Since Resolution acquired the center during 2012, it has experienced four lease renewals and 27 new lettings, which is representative of 41% of its gross leasing area. This has resulted in the vacancy level in Phase I dropping to only 4%, from 22%. Retailer sales have increased by 14% since the acquisition. Other brands in the center include S. Oliver and Lloyd, Van Gils, O’Neill, Villeroy and Boch and Gerry Webber.
The proactive asset management strategy implemented by Resolution has resulted in success in its European factory outlet portfolio. Some of its successes include:
- An increase in net operating income of 33.5% since 2010 at McArthurGlen Designer Outlet, Troyes near Paris, with growth of 35% in retailer sales. The total rent has increased by 17% since acquisition due to 31 new lettings and four lease renewals. New brand in the center include Furla, Armani, Daniel Hechter, Superdry, Asics, Gant, Tommy Hilfiger and Huge Boss. Resolution intends a Phase V extension at the center, dependent upon planning permission
- Near Lille in France, Resolution’s Designer Outlet Roubaix, has seen an improvement in net operating income of 34%, with total retailer sales having increased by 27% since it acquired the center during 2011. After 13 lease renewals and 23 new lettings, the total base rent has increased by 24%. New brands in the center include The Body Shop, Desigual, Sedensticker, Kooples, L’Oreal and Esprit.
- Resolution purchased the Designer Outlet Soltau, situated between Hanover, Bremen and Hamburg, Germany. It offers consumers in excess of 100 top German and international designer brands.