Amsterdam opening for outlet sector joint venture
by Mark Faithfull
Neinver and Nuveen Real Estate have opened Amsterdam The Style Outlets, the first outlet centre in Greater Amsterdam. This €110 million development is the first in the Netherlands for the joint venture between Neinver, the second-largest outlet sector operator in Europe and the largest in Spain and Poland, and one of the world’s largest investment managers, Nuveen Real Estate.
With the opening of this scheme, the outlet sector joint venture has expanded its international footprint to five countries (France, Italy, the Netherlands, Poland and Spain) and increased its portfolio to 15 operating assets, with a €1.4 billion GAV. For Neinver, co-owner and manager of the outlet centre, this is the 21st asset in its expanding portfolio, which now spans 510,000 sq m GLA.
Amsterdam The Style Outlets features 19,000 sq m GLA and over 100 stores. The factory outlet centre opened at around 75% occupancy, with a curated fashion shopping selection, with some brands debuting in the Dutch outlet market. Top outlet stores at the centre include Adidas, Bjorn Borg, Dstrezzed, Geox, Guess, Karl Lagerfeld, New Balance, Nike, O’Neill, Petrol Industries, Puma, Salomon, Skechers, S Oliver and The Kooples.
The outlet centre includes free Wi-Fi, concierge service, mobile charging stations, baby care rooms and VAT refund, while 1,000 sq m is dedicated to leisure areas, restaurants with outdoor seating, and walkways. The centre features 2,230 parking spaces for cars and 200 for bicycles.
The Dutch outlet is the first outlet sector development in the Randstad area, one of the wealthiest and most densely populated regions of Europe, which includes the four largest Dutch cities, with a catchment area of 12 million people within 90 minutes’ drive. The centre is also less than 10 minutes by car from Schipol Airport.
With a factory outlet village design inspired by traditional Dutch architecture, Amsterdam The Style Outlets is reminiscent of old factory buildings and is inspired by the historic SugarCity site where the outlet is located. The outlet centre is built on stilts and is located on the water. Developed in line with high sustainability standards, the centre has obtained BREEAM New Construction certification in the design phase.
“The opening of our 21st centre and first outlet centre in the Netherlands, one of the European countries with the highest GDP per capita, marks an important milestone for the company and strengthens our position as a leading European operator and a trusted partner to our stakeholders.” says Neinver CEO Daniel Losantos.
We have met the opening deadline despite the adverse situation. We are convinced that this centre will become a success in the outlet space and a driver for the economy in the region, more necessary than ever in these challenging times.
“At Nuveen Real Estate, we remain committed to the outlet sector and are looking forward to continuing to grow our portfolio through our joint venture,” adds Charlotte Ashworth, Fund Manager at Nuveen Real Estate.
Outlet Retail: Ready To Change The Rules – Lisa Wagner, principal, TORG; Alexandre Beneke, EMEA real estate manager, Salomon; Nick Brady, group managing director, McArthurGlen; Massimiliano Carello, head of strategy and asset management, VIA Outlets; Stefan Fickl, leasing director Europe, Neinver; and Volker Stinnes, CEO, Land of Fashion.
Outlet Industry: What’s New – Lisa Wagner, principal, TORG; Barbara Horatz, partner, marketing & management, TORG Europe – Tbilisi Outlet Village; and Brendon O’Reilly, managing director, Fashion House Group.