New retail and leisure development to be built near Cheltenham close to J9 of M5 motorway.
New 195,000 sq ft retail and leisure development Designer Outlet Cotswolds will be opened in two phases and will feature some 90 retail units, restaurants, and cafes. Construction is due to start on site in autumn 2020 with the first phase expected to open towards the end of 2021.
The architecturally-appealing designer village will benefit from a sizeable local catchment, millions of vehicles passing near the site each year, and high visitor numbers to one of Britain’s top tourism regions. Local shoppers living in the area are expected to account for over half of total annual revenue with passing traffic plus tourism predicted to provide the remainder.
The scheme is part of a broader retail development including a new 81,800 sq ft garden center, alongside an existing M&S supermarket, Starbucks and BP petrol filling station which, combined, will provide additional attractions to the site. A planning application for 850 homes, school and local center to the south has also been submitted and is awaiting determination.
The development is the first venture in the UK by ROS Retail Outlet Shopping and shows its confidence both in the British retail sector and, in particular, the growth potential of outlet shopping.
Designer Outlet Cotswolds will feature aspirational brands across fashion, athleisure, footwear, and lifestyle at up to 70% off RRP throughout the year along with quality restaurants and coffee shops. The scheme will be an easily accessible, aspirational premium outlet village, serving affluent towns and cities on the Bristol to Birmingham corridor, including Cheltenham, Worcester, Solihull, and Hereford.
12 SEPTEMBER 2019, United Kingdom