Outlet Centres in Europe

MARKET SURVEY

September 2013 Outlet Centres in Europe

Market Survey covering all operating and planned Outlet Centres in the European Countries

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Preliminary remarks Beginning in the USA and, over the past 25 years, subsequently spreading in Europe as well, a new retail format has been established: the Factory Outlet Centre (FOC) or Designer Outlet Centre (DOC). In the meantime, such a high density of Outlet Centres already exists in some European countries (e.g. Great Britain), that one can certainly speak of market saturation here. Thus, in Great Britain, as in the USA also, a market shakeout is observable among locations of Outlet Centres, whereby the most professional operators, and accordingly suitable locations, win out over less productive concepts or locations with weaknesses.

The situation in continental Europe is somehow different. Due what are, to date, extremely restrictive building permission procedures compared to those in the rest of Europe, Germany has only a very few Outlet Centres in relation to the size of this national market. However, there is little doubt that this will change in the medium-term perspective, at least. The kind of emotional argument that often used to take place until just a few years ago has now given way to a much more factual discussion on the advantages and disadvantages of establishing an Outlet Centre.

Whereas Germany still shows a lot of potential for new Outlet Centres, Italy has seen a rapid development in the last years, and it’s difficult to discover any “white spots” on the map there. The same applies to Switzerland and Austria. In the Central and East European Countries (CEE) the development took up pace but slowed down again in the aftermath of the credit crunch. So still there are significant differences on the development of Outlet Centres and the numbers of such centres in the European countries.

For more than 7 years now, ecostra is publishing this survey on Outlet Centres in Europe. This survey is free of charge and is available to everyone without any limitations as a PDF-download at the ecostra-website. The overview presented in this survey includes all those centres that are, currently either in operation or planned, that correspond to the following definition of Outlet Centres:

Outlet Centres are an agglomeration of many outlet store units within a coordinately- planned or a spatially-interrelated complex of buildings with more than 5,000 m² retail sales area (= approx. 6,000 m² GLA) and with more than 20 outlet stores. There manufacturers and vertically-integrated retailers sell past seasons, factory seconds, surplus stock etc. directly to the consumer, without using retail businesses as (intermediate) distributive channels. All products are sold with a discount to the original high-street price of at least 25 %. The coordination, organisation and marketing of an outlet centre is carried out by a centre management. Designer Outlet Centres (DOCs) are Outlet Centres which claim to incorporate an especially high proportion of premium brands; however, the designation “DOC” is often used only for marketing purposes.

For this reason, neither Outletcity Metzingen (www.outletcity-metzingen.com), Seemaxx Factory Outlet Center Radolfzell (www.seemaxx.de), the 50 Factory Store in the Italian town of Aosta (www.fifty.it) nor, among other sites, The Mall in Leccio Reggello, close to Florence (www.themall.it) have been included on the list.

The following survey of existing and planned FOCS in Europe is intended to help improve transparency on the retail trade market. The overview has been compiled according to the best of ecostra’s knowledge and is updated approximately every 3 months. Plans, developments or other information disclosed to the author on a confidential basis have not been included in the overview, in consideration of protection of confidence. No guarantee can be given for the completeness or correctness of the said information.

The utilisation of the information printed in this market survey, including of excerpts from it, e.g. as part of one’s own publications, studies, lectures or of other publications, is unreservedly

Outlet Centres in Europe – September 2013

permitted provided www.ecostra.com is cited as the source of the information. Any further use of the said information without acknowledging its source is expressly prohibited and constitutes an infringement of copyright.

Front page This issues front page shows the McArthurGlen Outlet Centre in Parndorf (Austria), which is one of the biggest and most successful Outlet Centers in Europe. The centre is located just aside the motorway A4 between Vienna (A) and Budapest (HU).

Additional information requested If you do have any information on Outlet Centres in Europe that is missing in this survey, you are welcome to provide us with the necessary data. Please, just send us an email with the relevant information. After our review you will find it in the next issue of this market survey.

Outlet Centres in Europe – September 2013

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Austria Parndorf (Burgenland) operating McArthurGlen McArthurGlen McArthurGlen Group / 42.020 39.845 Opened in August 1998. Approx. 170 shops and Parndorf Henderson Global Inves- approx. 3,000 parking spaces. Sales area includes tors / EOMF / Richard- that of the neighbouring BIGG outlet centre (now sons Captial LLP / Kra- "The Galleries"), which was taken over by McArthur- mar The Galerian - Glen. The 4th construction phase was opened at Warburg - Henderson beginning of October 2011. In another 5th phase an additional 3,600 m² GLA are planned due to open in 2016.

Wals-Siezenheim (Salz- operating McArthurGlen McArthurGlen McArthurGlen Group / 27.930 25.690 Conversion of the former "Airport Center" shopping burg) Salzburg Kramar / Richardsons centre into an OC. Project was opened on 10th Capital LLP / Wiener September 2009. Approx. 2,200 parking spaces. Städtische Versicherung There are plans to extend the centre to the neighbouring site of the former Baumaxx DIY-Store. Procedure to obtain a building permit for this extension started in 2012. Parndorf (Burgenland) operating Villaggio - Fashion Freeport Retail APM Holding / Zwerenz 11.000 9.500 Opened in April 2012. The project is to be enlarged Outlet & Krause / 1A Outlet to approx. 15,500 m² SA with a total of approx. 670 GmbH (Leasing) parking spaces in a 2nd construction phase by 2014. In April 2013 the management was taken over by Freeport Retail from Villagio Centermanagement GmbH. Leobersdorf (Lower closed Leoville Premium European 10.000 Project put into operation as part of a "Soft Open- Austria) Outlet Outlet AG ing" in May 2005. However, due to the intensive competition and unsuitable market positioning, the centre had not fulfilled expectations. As of 31.07.2008, contract cancellation agreements were concluded with the remaining tenants and the operation of the OC provisionally closed down. In mid- 2011, the object was taken over by Christian Blazek, the entrepreneur and patron of the arts. The centre is to be relaunched as a lifestyle centre under the name of "Bloomfield". The opening date was delayed from autumn 2012 to autumn 2013. Vösendorf (Lower Aus- closed Sale City Süd SCS Shopping 10.000 Project opened in September 2006, but has mean- tria) City Süd Man- while closed again due to lack of success; due to its agement basic concept, it had to be rated more as an off- price centre.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Jöß (Styria) cancelled Desygn Outlet n.s. Eybesfeldsche Projekt- 17.500 The private investor Conrad Eybesfeld was planning Eybesfeld entwicklung GmbH an OC on the A9 (Graz-Marburg) motorway. In July 2008, the Regional Government of Styria resolved to suspend proceedings for enacting a building permit; the project has therefore "died" Graz (Styria) cancelled n.s. Freeport 111 Werner Gröbl Pro- 20.000 The former furniture retailer Gröbl was planning an jektentwicklungs GmbH OC on the former brewery grounds in Graz-Puntigam / Carlyle (near IKEA). The building plan had allowed this utilisation. Freeport plc. was appointed as the operator, but they claimed that they “only held talks” at the site. As Freeport wanted to withdraw from apparently already signed contracts and thus from the project, Gröbl had brought a law suit against them. This suit was rejected in September 2011. The project must thus have definitely died! Graz (Styria) cancelled Fashion Hill De- n.s. Pichler & Sohn GmbH 6.700 In North Graz, a former furniture shop with 3 sales signer Outlet Graz levels was supposed to be converted into an OC. Building plan allowed this utilisation. 475 parking spaces. Up-to-dateness of information uncertain; project has possibly been abandoned again Belgium Maasmechelen operating Maasmechelen Value Retail 19.105 16.000 Village Messancy operating McArthurGlen McArthurGlen McArthurGlen Group / 16.485 16.000 Opened in 2003; approx. 1,000 parking spaces. OC Luxembourg Henderson Global Inves- generated unsatisfactory results and was sold to tors / EOMF Henderson by Intervest Retail for only € 12 million in November 2007. With that, a change of operator took place, from GL Outlet to McArthurGlen. The Centre was restructured and underwent a relaunch. It was reopened in April 2011. Verviers closed Ardennes Outlet Comer Homes 14.000 9.800 The centre was closed at the end of June 2012 and Center Group will be redeveloped, but not as an outlet centre. At the beginning of May 2012 the French sports retailer Decathlon decided to realize a power store at the plot. Gent cancelled Waterfront n.s. Canal Properties / ING 10.000 Up-to-dateness of information uncertain. Project Fashion Outlet Real Estate possibly abandoned

Maaseik cancelled n.s. n.s. 10.000 Up-to-dateness of information uncertain. Project possibly abandoned.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Bulgaria Sofia operating Sofia Outlet Center Fashion House ECE / K&K Engineering / 15.520 13.000 Opened in March 2010. Location next to Metro and Management Drees & Sommer Technomarkt and opposite the EXPO centre on Tsarigradsko Shousse Boulevard in south-east Sofia

Croatia Donja Zelina closed Outlet Center Zelina Centar Prigan Holdings Ltd. 13.000 10.000 Located 26 km north-east of Zagreb on the motor- Sveta Helena D.o.o. way running towards Varazdin. Project was opened in December 2008. 1,750 parking spaces. Due to a lack of tenant demand this centre finally closed doors after almost 4 years of operation in June 2012. Sveti Kriz Zacretje (be- operating Roses Fashion Dayland Group Dayland Group / Mezz 18.000 15.050 Approx. 1,800 parking spaces. Located on the Mar- tween Zagreb & Mari- Outlet AG burg – Zagreb motorway; the sales area is to be bor) enlarged to a total of approx. 23,600 m² in Phase II. Kriz cancelled Kriz Village Com- Europ Invest Europ Invest 9.200 Located approx. 40 km south-east of Zagreb, on the pany Stores Management motorway to Belgrade; approx. 1,800 parking spac- S.r.l. es. Opening was planned for autumn 2009. The lastest imformation indicates that this project was abandoned in the meantime. Czech Republic

Znojmo (at the border to operating Freeport Internati- Freeport Retail Freeport 22.300 20.500 Opened in September 2003; approx. 1,000 parking Austria) onal Outlet spaces Praha operating Fashion Arena Fashion Arena TK Development / LMS 24.000 18.000 Opened in November 2007. Located in the Stirboholy Outlet Center Centre Man- Outlets / Graham district in the east of Prague, opposite the Europark agement s.r.o Coxhead shopping centre

Brzotice-Loket uncertain Exit 66 Outlet Devo Group BDL Czech 16.000 An OC is planned on a piece of land of approx. Center 180,000 m² on the D1 (Prague-Brünn) motorway; the project is to be enlarged, if need be, to 35,000 – 45,000 m² SA in further construction phases; according to the available information, construction work on the project was halted since some years due to financing problems.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Ruzyně closed Galleria Moda at Premium B.Consulting; Ponte 31.000 Various dates fixed for the opening were postponed. Praha Airport Retail S.r.l. Carlo GDO / Unicredit / Construction work on the building is almost complet- SEB ImmoInvest ed. According to the available information, the project suffers from considerable problems, e.g. the developer has meanwhile apparently gone bankrupt. Approx. 2,500 parking spaces Zdice early plan- Bohemia Outlet n.s. Smile Department Stores 14.000 12.000 Location on the A5 motorway south-west of Prague. ning phase Village s.r.o. / SJ-International Some years ago, the project was pushed by BVS Outlet Villages. Afther the disorganization of BVS it seems that this project is revitalized by a czech- german group now. In a second building phase, the project is supposed to be extended up to 40.000 m² GLA. Usti nad Labem cancelled n.s. n.s. Alkona Invest 25.000 An OC is planned on a location oriented towards car- driving customers, directly on the Dresden – Prague motorway. Investor was looking for a suitable operator for some years, but - according to available information - without any success. Denmark Ringsted operating Premier Outlet Freeport Retail Miller Developments / 12.525 10.000 Opened on 6th March 2008. Approx. 1,000 parking Center Ringsted TK Development spaces

Kolding advanced Kolding Factory n.s. 27.000 The local municipal business development organisa- planning Outlet Centre tion in the Danish seaport of Kolding is planning to phase establish the largest OC in Northern Europe on a piece of land separated from the river and directly adjoining the city centre. The search for an operator has been going on since the beginning of 2009, though without success to date, according to the available information. Kopenhagen advanced Copenhagen Deas Center Danica Pension / Danica 16.000 14.000 Location near the City 2 shopping centre on the planning Designer Outlets Management Ejendomme outskirts of Copenhagen. Conversion of the area of a phase disused Hypermarket and Electrical Shop. 80 shops. Approx. 3,000 car spaces. Opening was planned for November 2012, but was delayed to 2014.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Billund (Jütland) early plan- n.s. Lordland n.s. n.s. Since 2007 the city of Billund is working to realize an ning phase International outlet centre. After changes in the regional planning laws the chances seem to be better now. Billund is the home of the toys manufacturer LEGO and the first LEGO leisure park, which had approx. 1.6 m visitors in 2011. Estonia Tallinn advanced Tallinn Outlet n.s. Süda Maja / Holder 11.500 10.000 Located in the southeast of Tallinn at the junction of planning Mathias Architects / the Tallinn Tartu Expressway and the Tallinn Ring phase Rohleder Lumby / SJ Road. The site is part of the American Corner retail International park (with Expo Centre and hypermarket). The project will be built in 3 phases, whereas the 1st phase will have 11.500 m² GLA, the 2nd phase 4.000 m² and the 3rd phase another 3.950 m² GLA. Opening is planned for autumn 2013. France L´Ile Saint Denis (close operating Marques Avenue Concepts & 14.100 13.000 Approx. 850 parking spaces to Paris) L´Ile Saint Denis Distribution

Coquelles (close to operating L'usine Cote Unibail Ro- 13.850 11.000 Located near Eurotunnel Calais. Calais) d´Opale damco La Séguinière (close to operating Marques Avenue Concepts & 9.600 7.500 Approx. 500 parking spaces Cholet) La Séguinière Distribution Romans sur Isère operating Marques Avenue Concepts & AEW Europe SGP 17.000 15.000 Approx. 1,050 parking spaces Romans Distribution Talange (close to Metz) operating Marques Avenue Concepts & 15.660 14.500 Approx. 1,000 parking spaces Talange Distribution Troyes operating Marques Avenue Concepts & 28.500 25.000 Approx. 1,800 parking spaces Troyes Distribution Corbeil Essonnes (south operating Marques Avenue Concepts & 12.300 11.000 Project was opened in October 2008. Approx. 1,300 of Paris) A6 Distribution parking spaces Franconville (close to operating Quai des Marques Concepts & 14.900 13.000 Approx. 800 parking spaces Paris) a 15 Distribution

Troyes operating McArthurGlen McArthurGlen McArthurGlen Group / 30.005 28.655 Opened in October 1995; approx. 1,700 parking Troyes Resolution Property spaces

Roubaix operating McArthurGlen McArthurGlen Resolution Property 17.245 16.795 Opened in August 1999; approx. 1,500 parking Roubaix spaces

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Roubaix operating l´Usine Unibail Ro- 18.550 16.700 damco Roissy (close to Paris) operating Usines Center Advantail 16.800 15.000 Paris Nord 2 Marne-la-Vallée / Chessy operating La Vallée Shopping Value Retail 17.390 15.000 Located near Disneyland Paris Village Merignac operating Merignac Outlet GL Outlet 6.800 5.500 Center Rennes cancelled Vitrine des GVA Outlet 13.000 Project was abandoned Marques Services Bordeaux operating Quai des Marques Concepts & 10.430 9.000 Approx. 620 parking spaces Distribution

Roppenheim (Alsace) operating Roppenheim, The Neinver Neinver / MAB Develop- 27.200 22.000 Building permission was granted in February 2008; Style Outlets ment initial construction work began at end of May 2008, but no progress was observed in the construction for a long time. In October 2009, the development company Freeport sold the project to MAB Devel- opment. Opening took place on 25.04.2012. Approx. 107 shops and 1,700 parking spaces Saint André de Cubzac uncertain Parc du Cubzac n.s. Park du Cubzac SAS / 25.000 After this project was already approved by the re- (Gironde) Advantail gional retail commission (CDAC), it was rejected by the French national retail commission (CNAC) in November 2012. Damazan cancelled Village de Marques GVA Outlet 18.000 Project was abandoned Services Bellegarde-sur-Valserine advanced The Style Outlets Neinver MAB Development 16.085 MAB Development took over the project from the (Rhone-Alpes) planning Bellegarde Bergerac Estates / RJ McKinney Ltd & Rioja Devel- phase opments Group. At the end of May 2010, the CNAC (Commission Nationale d'Aménagement Commercial) granted building permission. In all, approx. 1,360 parking spaces. Opening is planned for 2013. Le Cannet des Maures early plan- Freeport Le Can- Freeport Retail 25.000 23.000 Approval procedure in preparation (close to St. Tropez) ning phase net des Maures

Riorges cancelled n.s. Prominvest 18.000 Project was abandoned in June 2008 Lieusaint cancelled Usines Centre Espace Expan- Unibail 12.000 Project was abandoned in October 2008 Carre Senart sion Saverdun cancelled n.s. GTM Construc- 20.000 Project abandoned tion

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² La Cavalerie early plan- Viaduc Village n.s. 6.000 Building permission granted in January 2007; how- ning phase ever, permission withdrawn again at beginning of 2010

Nailloux (close to operating Nailloux Fashion Advantail COGEP / Corio 22.100 Construction began in February 2010. The centre Toulouse) Village opened at 23rd November 2011. In Phase II, the OC is to be enlarged to approx. 30,950 m² with approx. 1,800 parking spaces Romorantin-Lanthenay early plan- Carre des Marques Unibail Ro- Emma-Invest 18.000 Approval procedure is underway ning phase Romorantin damco

Honfleur (Normandie) advanced Honfleur, The Neinver Neinver 18.000 15.000 Neinver & Bowfonds won an investor contest. Build- planning Style Outlets ing permission was granted in May 2010. Approx. phase 100 shops and 1,500 parking spaces. Opening is scheduled for 2015. Tournus early plan- Tournous Fashion GVA Outlet n.s. Rumour has it that, after several failed attempts, ning phase Village Bourgogne Services another effort to obtain building permission for the location has started up

Hésingue (Alsace) uncertain n.s. Unibail Ro- 12.000 A large-scale shopping centre is planned immediate- damco ly to the north-east of the Euro-Airport Basel / Mul- house; one component is to be an OC. The municipal association Communauté de Communes des Trois Frontières has agreed to the project. In May 2011, the Admin. Court of Strasbourg initially halted the project following legal actions brought by the neighbouring town of St. Louis on the grounds of procedural deficiencies. Since then, there is no information of any progress of the project. It can be assumed that this project was given up. St. Croix-en-Plaine (Dep. early plan- n.s. Concepts & Icade 25.000 18.000 Approx. 10 km south of Colmar. Location on the A35 Haut-Rhin) ning phase Distribution motorway. 126 Outlet Shops and 1,200 parking spaces are planned. According to the available information, building permission has already been granted for the Project. Opening was planned for 2013, but according to available information not even constuction was has started yet. Miramas (Dep. Bouches- advanced McArthurGlen McArthurGlen 26.000 16.000 Located near the A54 and A7 motorways. Approx. du-Rhone) planning Designer Outlet 2,000 parking spaces. Planning approval was grant- phase Provence ed at the end of January 2013. Opening planned for 2014.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Plaisir (Département under One Nation Luxury Advantail Catinvest 24.000 20.000 Located directly next to the "Grand Plaisir" retail Yvelines) construction & Fashion Outlet trade agglomeration (includes e.g. IKEA, Auchan, H&M, Zara, Decathlon and GoSport) in the west of Paris. Building permission has been granted. Con- struction began in March 2011. Opening was initially planned for April 2013, but was delayed to 20th November 2013. The centre will be open on Sundays. Villefontaine advanced The Village Freeport Retail La Compagnie de Phals- 25.000 20.000 Located closeby to the motorway between Lyon and planning bourg Grenoble. Building permit was approved by CNAC at phase the end of May 2012

Douains (Départment uncertain McArthurGlen McArthurGlen Catinvest 18.000 15.500 According to the available information the French Eure) Vernon national retail commission (CNAC) rejected this project. Le Havre (Dep. Seine- cancelled L'Usine des Docks Unibail Ro- 12.000 Project was given up due to a lack of tennant de- Maritime) damco mand in June 2011 Boulleville (Dep. Eure) cancelled Le Haras des n.s. Balika Investment 16.000 After the competing project in Honfleur received the Marques building permit, this project was cancelled by its developers. Germany Zweibrücken (Rhineland- operating Zweibrücken, The Neinver IRUS Property Fund / 30.300 21.000 Enlargement phase II (4,500 m² SA) was concluded Palatinate) Style Outlets OCI / Neinver in September 2006 and enlargement phase III (3,000 m² SA) in July 2008. The centre was taken over by the Spanish Neinver Group in February 2009 (former operator was OCI). In October 2010, the final enlargement to the approved 21,000 m² SA was concluded. In all, approx. 2,600 parking spaces. Wustermark (Branden- operating McArthurGlen McArthurGlen McArthurGlen Group / 20.520 16.500 The existing building of the former B5 Designer burg) Berlin Henderson Global Inves- Outlet Centre was largely demolished and the Centre tors / EOMF was newly designed as an Outlet Village. The opening of the "Norddorf" took place on 18.06.2009, and the "Süddorf" opened on 02.09.2010. Currently approx. 1,200 parking spaces, Enlargement to approx. 2,300 parking spaces is planned.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Wertheim (Baden- operating Wertheim Village Value Retail Value Retail 22.000 13.500 The project opened in November 2003 with 9,800 Württemberg) m² SA. Enlargement through a 3rd construction phase was concluded in March 2008. In April 2010, the Wertheim Town Council decided to enlarge it to 16,800 m² SA and started the procedure for a change to the building plan. In July 2011, the Town Council approved the building plan change. But the state government of Baden-Wurttemberg seems to oppose the planned extension of the centre. Since 2011 no progress was made in the procedure to extend the centre, so it can be assumed that either Value Retail gave up or - at least - doen't pursue this case activly at the moment. Ingolstadt (Bavaria) operating Ingolstadt Village Value Retail Value Retail 20.540 15.200 Wolfsburg (Lower Saxo- operating Designer Outlets Outlet Centres Designer Outlet Wolfs- 11.500 9.000 OC was opened on 15.12.2007. In February 2013 ny) Wolfsburg International burg GmbH the 2nd construction phase started, where the cen- (OCI) tre is to be enlarged by an additional 6,000 m² GLA to reach 17,000 m² GLA. Opening of the extension is planned for fall / winter 2013. Hermsdorf (Saxony- closed A2 Outlet Center Jones Lang 12.000 10.400 Between 2008 and 2012 an outlet centre was inte- Anhalt) LaSalle grated into the eastern part of the "Elbe Park" Shop- ping Centre, on the basis of existing building permit.During the time operating many shops were still standing vacant. In 2012 the retail company "Mode- park Röther" took over the complete "Elbe Park" and converted it into a fashion orientated shopping centre. The outlet centre was closed down. Still, there are some outlet stores operating as tenants of the shopping centre but it can't be considered as an outlet centre anymore. Hermsdorf (Thuringia) early plan- n.s. n.s. With the amendment to the State Development ning phase Plan, the State Government of Thüringen wants to open the way for an Outlet Centre and has decided it should be located in the area around the Hermsdorfer Kreuz (A4 / A9). At present, there is still no named investor and also the projected piece of land has not yet been precisely determined.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Heilbronn (Baden- cancelled n.s. Style Factory 10.000 A positive statement of the regional authorities was Wüttemberg) Designer given. However, the location didn't really suit the Outlet GmbH preconditions of an OC and due to lack of interest from operators and potential tenants, the project has "died". Soltau (Lower Saxony) operating Designer Outlet ROS Retail Mutschler Group / 1A 13.500 9.900 Centre opened at the 30th August 2012. Soltau Outlet Shop- Outlet GmbH (Leasing) ping

Bispingen (Lower Saxo- uncertain n.s. Value Retail 9.900 On 03.02.2009, the State Government of Lower ny) Saxony decided against an OC in Bispingen; Bisp- ingen brought a lawsuit against the State Govern- ment’s decision at the Administrative Court of Lüne- burg, which was however rejected. In October 2009, the Administrative District of Soltau- Fallingbostel refused Bispingen’s application for the issue of a building permit. In April 2012 the Higher Administrative Court of Luneburg rejected the claim by Bispingen for judicial review of the builiding permit for the competing project in Soltau. In the meantime, it has become rather unlikely that this project will be realised (in this connection also see Soltau). Kessin (Mecklenburg- cancelled The Factory n.s. GfB Gesellschaft für 12.500 After nothing had been heard of this project for West Pomerania) Baubetreuung mbH many years, in appeal proceedings at the beginning of November 2008, the Higher Administrative Court of Greifswald allowed the law suit brought by the town of Rostock on the grounds that the building plan was not in conformity with the regional land- use planning programme, and withdrew the building permit. The project seems thereby to have finally "died".

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Montabaur (Rhineland- advanced n.s. Stable Inter- United Internet AG 10.000 An OC is to be integrated in the area of the Mon- Palatinate) planning national tabaur ICE railway station within the framework of a phase major development measure (ICE Park). The land- use planning procedure was concluded in December 2006 with a positive ruling. In September 2007, the Administrative Court of Koblenz rejected the law suits brought by the neighbouring towns of Limburg, Koblenz and Diez against the project. In October 2008, the Higher Administrative Court of Rhineland- Pfalz allowed the appeal at the Federal Administra- tive Court of Leipzig. Although no decision was reached by the Court so far, the building permit was issued in March 2009. The FAC of Leipzig rejected the law suit brought by the towns of Limburg, Ko- blenz and Diez. In the meantime, the town of Diez withdrew from the court proceedings. In September 2010, the Higher Admin. Court proposed an out-of- court settlement in the legal dispute, which however the town of Limburg refused in November 2010. In November 2010, the HAC rejected Limburg’s law suit. Limburg filed a complaint at the FAC against the non-allowance of the appeal, which was likewise rejected in August 2011. Thus, the building permission is now legally effective and can no longer be contested. Construction is to begin in October 2013. Opening is planned for Q4 2014. Reinfeld (Schleswig- cancelled n.s. n.s. 25.000 An OC was to be established in the area of an inter- Holstein) municipal business park (with Lübeck); as the local regional centre, the city of Lübeck supported the project. After the rival project in Neumünster was approved, this project had only minimal chances of being completed; the project was abandoned again in March 2009.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Gronau (Northrhine- cancelled n.s. Stable Inter- FOC Gronau GmbH 10.000 Located in the area of the "Inselpark" grounds. Westfalia) national Change to the land development plan (LDP) was rejected by the District Administration. A law suit brought by the town against this decision was rejected by the Administrative Court of Munster. In light of the Ochtrup ruling by the Higher Administra- tive Court of Munster, the LDP appeared to be legally valid, so that the town was able draw up the building plan. At the end of October 2010, the provisional planning law decision was issued by the town. The town of Ochtrup brought a suit against this provisional building decision before the Administra- tive Court of Munster. In a counter-move, the town of Gronau brought a suit against the building permission for the OC project in Ochtrup. Today, the outlet project in Gronau was cancelled and the city is looking for new possibilities to develop this site. Wittenburg (Mecklen- early plan- Wittenburg Village n.s. Van der Valk, Ontwikkel- 15.000 Project was already discussed back in 1999 at the burg-West Pomerania) ning phase fonds initiative of the Department of Trade and Industry of Mecklenburg-Vorpommern, but abandoned due to opposition; now this project seems to be up and running again In 2007, planning activities were resumed again in the immediate vicinity of the "Alpin Center Hamburg-Wittenburg", however the British Miller Group which had a stake in this project withdrew again. The project was continued by the Dutch developer Ontwikkelfonds. In October 2011, it was announced that the land-use planning procedure would be started shortly, but - according to available information - nothing happened so far.

Outlet Centres in Europe – September 2013 12

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Helmstedt (Lower Saxo- advanced Ostfalen Outlet HMCM Cen- Müller Baugesellschaft, 9.900 At first, this project was conceived with a sales area ny) planning Center Helmstedt termanage- Helmstedt of 17,000 m². An application for proceedings to phase ment GmbH obtain permission to deviate from a planning objective was made but later cancelled in light of the new state development regulations. As no activity had been observable for a long time, in March 2010 the City Council decided to take up the plans for an OC again. In December 2010, the regional planning authority of Greater Braunschweig ascertained that the project violated the state planning regulations. Again, after some years with no activity, the city council decided in January 2013 to start the procedure to obtain a building permit for an outlet centre with a reduced sales area of now less than 10,000 m². In March 2013 the regional administration union of Greater Area Braunschweig has enjoined the city of Helmstedt to carry on with the plannings. In May 2013, the city of Helmstedt has filed a court case to object to the decision of the regional administration. Elmshorn (Schleswig- cancelled n.s. n.s. 10.000 An OC is to be established on the "Warnholzgelände" Holstein) site in the harbour. The state planning authorities in Kiel have agreed to the project in principle. Howev- er, no planning activities have been observable there for some time, so it must be assumed that the project has been abandoned again. Neumünster (Schleswig- operating McArthurGlen McArthurGlen McArthurGlen Group / 16.000 15.000 The opening of the first construction phase took Holstein) Neumünster Henderson Global Inves- place on the 20th September 2012. In a second tors / EOMF phase the centre is to be enlarged on 20,000 m² sales area. The building permit for this enlargement is already issued. Piding (Bavaria) advanced n.s. n.s. 8.100 In the municipality of Piding, located on the A8 near planning Bad Reichenhall, an OC was to be established in the phase business park on the Lattenbergstrasse, on the site of an existing Adidas outlet (approx. 1,000 m² SA); however, in the meantime, a retail park is also being negotiated instead of an OC. In March 2007, the Bavarian Department of Trade and Industry approved enlargement to an OC with 8,100 m² SA. However, to date no construction work has been observed at the site.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Pocking (Bavaria) early plan- n.s. n.s. 20.000 An OC is to be established on a former military ning phase training ground, directly on the future A94. In April 2005, the city council gave a positive answer to a preliminary enquiry. For some years no real progress was observable. Currently, the land owner checks the viability of the project. Ochtrup (Northrhine- operating FOC Ochtrup Hütten Hol- Retail Development 17.500 11.500 Centre opened at 30th August 2012. 65 Shops, Westfalia) ding GmbH Group approx. 1.600 parking spaces.

Bad Hersfeld (Hesse) cancelled n.s. n.s. 12.000 Located on the former grounds of the Federal Border Guard. In February 2007, the Town Council granted preliminary planning approval for changes to the land development plan. The investor and operator of an OC signalled interest. In April 2007, the Regional Assembly refused to allow any change to the regional plan. Hagen (Northrhine- cancelled n.s. Stable Inter- Freiherr von Maydell 14.000 In the Hagen locality of Haspe, an OC was planned Westfalia) national GmbH on the “Brandt grounds”. In March 2008, the De- partment of Trade and Industry of North Rhine- Westphalia refused the start of proceedings to obtain permission to deviate from a planning objective, with reference to the path of creating "regional consensus". The project thus appeared to have already "died". After the ruling by the Constit. Court of NRW in the Ochtrup case, it was considered to resume proceedings again. However, the developer withdrew from the project in the middle of 2011. The project must therefore have "died".

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Remscheid (Northrhine- early plan- McArthurGlen McArthurGlen 15.000 First, an OC was planned in the Blume / Felder Höhe Westfalia) ning phase Remscheid business park at the Lennep / Lüttringhausen motorway junction. In mid-October 2011, a local opinion survey was carried out on the project, in which 76.5 % voted for the establishment of the outlet centre. At the end of November 2011, the Plenary Meeting of the Wuppertal-Solingen-Remscheid Chamber of Industry and Commerce also declared itself in favour of the project. Several neighbouring cities are opposing the project. The state government has critized the project too. In August 2012 the regional planning authority rejected the change of the regional development plan. The city of Rem- scheid announced to fight this desicion in court. But in November 2012 McArthurGlen and the town representatives decided to switch the planned location to a site close to the Remscheid subburb of Lennep. Today, there is a sports stadium and a fairground, which will be replaced by the outlet centre. Parking is supposed to be in an underground car park. Bad Fallingbostel (Lower cancelled n.s. Outlet Centres n.s. Bad Fallingbostel, together with the neighbouring Saxony) International municipalities of Walsrode and Bomlitz, wants to (OCI) establish an OC on the A7 / A27 motorway intersection. The State Government of Lower Saxony ruled against Bad Fallingbostel on 03.02.2009 (see Soltau). The municipalities of Walsrode, Bad Falling- bostel und Bomlitz, the joint initiators of the project, accepted the decision. Seligenstadt (Hesse) cancelled n.s. n.s. 25.000 The project seemed to have already "died" and suddenly was on the map again. Now according to the available information it has finally "died" due to the fact, that no operater was willing to compete with Wertheim Village, which is located 30 min. drivetime east.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Wadgassen (Saarland) uncertain myland n.s. IBS Gruppe / Munitor AG 12.300 Located on the grounds of the former Cristallerie glass factory. The existing factory outlet of Villeroy & Boch (approx. 8,660 m²) is enlarged by further Outlet Shops. In May 2009, the developer announced rescheduling and – without giving reasons - that the realisation of the project was to be postponed indefinitely. Since the beginning of 2011, there was information available that construction work is being carried out at the location. The soft opening of the whole centre has taken place on 20th September 2012, the grand opening was scheduled for the 4th October 2012. Despite the opening of the centre the neighbouring city of Saarlouis filed a court case to fight the building permit. In October 2012 there were press-reports that the building permit only covers a retail sales area of approx. 3.800 m², all of the remaining sales area seems to be built without a valid permit. It is still unclear whether or not the new concept still conforms to ecostra’s definition of an outlet centre. Due to that, the status of the centre is set to "uncertain". Dinslaken (Northrhine- cancelled n.s. n.s. n.s. An OC is to be established on the former coal-mining Westfalia) grounds at Lohberg. The project was initially quite a controversial issue within the town administration, but following the ruling by the Constit. Court of North Rhine-Westphalia on the Ochtrup suit, the project was supposed to be pursued intensively again. According to the available information, the State Government of NRW is threatening to cancel the town’s building subsidies if the project is realised. In the meantime it seems that this project is abandoned.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Duisburg (Northrhine- advanced Douvil - Duisburg Freeport Retail German Development 31.000 25.000 An OC is to be established on the grounds of the Westfalia) planning Outlet Village Group / SJ International Rhein-Ruhr-Hallen and the old Hamborn indoor phase (Leasing) swimming pool. In March 2010, the City Council of Duisburg passed a resolution to accept the plans. The first expert’s reports have already been drawn up. An investor selection procedure was carried out in 2011. However, the German Development Group was the only interested party to apply, which then presented Freeport as the operator in October 2011. The starts of construction is planned for 2012. In a first construction phase, 95 Outlets are to be built, with a total of approx. 19,000 m² GLA, as well as 1,950 parking spaces. October 2013 has been given as the opening date. In a second construction phase, the centre is then to be enlarged to 31,000 m² GLA and 2,500 parking spaces. A neighbouring housing estate is to be demolished in order to con- struct the car parks of the OC. A Citizen’s Action Committee has been founded against the demolition. Leipheim (Bavaria) cancelled n.s. n.s. n.s. In connection with the conversion of the Leipheim air base, an option was discussed to establish an OC at the site. Baunatal (Hesse) cancelled n.s. n.s. 15.000 A group centring on the Kassel property entrepreneur Derek Arndt is planning an OC in the city- centre of Baunatal, near Europaplatz square. The regional planning association of Kassel has announced its opposition to the project. However, no planning activities have been heard of for some time now, so it must be assumed that the project has been abandoned again. Idstein (Hesse) cancelled Idstein Village n.s. n.s. The town of Idstein set up a study group to investi- gate whether an OC could be established in the town centre of Idstein. In March 2009, the City Council "took note" of the fact that an OC could not be profitably operated at this location, and abandoned the plans.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Herrieden (Bavaria) cancelled Herrieden Fashion n.s. Carlo Colucci 8.100 The fashion designer Carlo Colucci wants to expand Outlet his factory outlet at company headquarters into an OC. In light of the ongoing amendment to the Ba- varian state development plan, The application for proceedings to obtain permission to deviate from a planning objective was suspended again in mid- 2010. In January 2011, the proceedings to obtain permission to deviate from a planning objective were put into force again. In December 2011, the Bavari- an Department of Trade and Industry announced that the project was not compatible with the state planning objectives. The city of Herrieden intended to file a writ of mandamus. A legal expertise by a renowned lawyer came to the result, that there won't be much chance for Herrieden to succeed in this matter. Finally the city of Herrieden abandoned this law suit. Selb (Bavaria) operating Factory In Heinrich Por- 8.000 7.000 At the company headquarters of the china and zellan GmbH household goods manufacturer Villeroy & Boch, the "Factory In" was operating since July 2001. In Octo- ber 2009, the Bavarian Council of Ministers approved the submitted enlargement up to 11.650 m² SA. The law suits announced by neighbouring towns against this enlargement have meanwhile been withdrawn again. Construction work started in September 2012. Today there is a sales-area of approx. 7.000 m² in operation, the rest will be build successively.

Outlet Centres in Europe – September 2013 18

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Grafschaft (Rhineland- advanced n.s. Neinver 9.900 In the Grafschaft locality of Ringen, an OC was Palatinate) planning planned in the Innovationspark Rheinland; a market phase hall with approx. 3,000 – 5,000 m² SA for regional products (e.g. wine) is planned as an additional facility. Various surrounding towns have announced their opposition to the project. In the meantime the proposed developer went bankrupt and the city was looking for a new investor. Various renowned operators have signalled their interest and in May 2012 it was revealed that Neinver is supposed to be the new operator. Some time ago there were initiatives to pursue this project jointly together with the neighbouring city of Bad Neuenahr-Ahrweiler. But in June 2012 the town council of Bad Neuenahr-Ahrweiler rejected the offer to cooperate made by Grafschaft. Now the city of Grafschaft is pursuing the project on its own. Kabelsketal (Saxony- cancelled n.s. n.s. n.s. There were rumours that an OC was being planned Anhalt) on the Großkugel Exit of the “Schkeudizer Kreuz” (BAB A9 / A14) intersection. Since no planning activities have been observed for months, one can assume that this project has been abandoned. Wiedemar (Saxony) cancelled Leipzig Fashion Stable Inter- FOC Wiedemar GmbH 14.000 Location in the business park on the BAB A9, Outlet national Wiedemar exit on, among others, the grounds of (up to now) MediMax. Building permission was granted in April 2009. The city of Leipzig pushed through expedited proceedings against the building permission. At the end of April 2010, the Admin. Court of Leipzig suspended execution of the building permission; however, at the end of November 2010, the Higher Admin. Court of Bautzen put the building permission into force again. At the beginning of March 2011, the operator erected a construction sign on the piece of land. In December 2011, the AC of Leipzig rejected the law suit of the city of Leipzig and confirmed the building permission. In Septem- ber 2012 Stable International announced that they will not make use of this building permission. Stable has made an arrangement with ITG to develop together the neighbouring Brehna project. So, despite the building permit, there will be no Outlet Centre in Wiedemar.

Outlet Centres in Europe – September 2013 19

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Radolfzell (Baden- advanced Seemaxx Factory Hesta Beteili- 11.500 9.000 At the company headquarters of the Schiesser linen Württemberg) planning Outlet Center gungs GmbH manufacturer, various Outlet Shops are already in phase Radolfzell operation on a total area of approx. 4,000 m² SA. The sales area is to be enlarged to approx. 9,000 m² and the location thus expanded to become an OC. Due to the resistance of - amoung others - neighbouring cities the planning process was delayed again and again. In February 2013 the neighbouring city of Constance withdraw their rejections, but recalled this desicion again in June 2013 after local retailers protested against this change in view. Erfurt (Thuringia) cancelled n.s. n.s. Saller Gewerbebau n.s. An OC was planned on an area of approx. 80,000 m² on the Greifswalder Strasse in the Erfurt urban district of Johannesvorstadt. The City Council of Erfurt rejected the project at the beginning of May 2010. This project thus seems to have "died". Zeil am Main (Bavaria) advanced Erbelle-Outlet- HK Verwal- 3.700 A conglomerate of outlet shops is in operation on planning Center tungs GmbH approx. 3,700 m² SA in the former production halls phase of the household linen manufacturer Erbelle. The location is to be enlarged to become an OC. In spring 2009, the Bavarian Dept. of Trade and Indus- try refused to allow proceedings to obtain permission to deviate from a planning objective to be started. However meanwhile, according to the available information, permission has been granted for enlargement by 1,300 m² SA to reach 5,000 m² SA.It still has to be reviewed whether or not this centre corresponds with ecostras definiton of an outlet centre. Rostock (Mecklenburg- cancelled n.s. n.s. 7.500 A Danish investor plans to establish an OC as an West Pomerania) alternative reuse of warehouses on a former military training ground at Tannenweg in Rostock- Gartenstadt. For quite a long time no activity to work on this project can be observed, so it can be assumed that it has been given up.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Sinsheim (Baden- cancelled n.s. n.s. E.L. Immobilien GmbH 10.000 An OC is to be established in the former trade fair Württemberg) halls, directly next to the Sinsheim Technical Muse- um and the football stadium of the Hoffenheim federal league club. According to the available information, several well-known operators of outlet centres have already shown interest; some of them called this to be "one of the best locations for an outlet centre in Europe". Proceedings to obtain permission to deviate from a planning objective have started in January 2012. In March 2013 the regional council rejected this project. The city of Sinsheim has refrained from appealing to the administrative courts against this decision, so this project is to be judged as abandoned. Brehna (Saxony-Anhalt) advanced Designer Outlet Stable Inter- ITG Immobilien Treu- 19.000 16.000 The former "Prima Einkaufs Park Brehna" shopping planning Brehna national hand Gesellschaft / One centre is to be turned into an OC. The building plan phase Outlets allows conversion into an OC. Building permission was granted in spring 2010. At the petition of the town of Halle (Saale), the Admin. Court of Halle ruled at the end of September 2010 that no use may be made of the building permission for the time being. In February 2011, the city of Leipzig and in March 2011 the town of Halle withdrew their appeal. Subsequently, only a few smaller towns wanted to bring suits against the project. In July 2011, the regional administration department rejected the appeals against the building permission. Then, at the beginning of February 2012, the city council of Dessau-Rosslau also withdrew its legal action, but shortly after the major of Dessau-Rosslau objected the decision of his city council. The claim of Dessau- Rosslau (and the city of Leipzig) was rejected by the Administrative Court of Halle (Saale) in April 2012.After none of these cities appealed for revision at the higher court, the building permit cann't be challenged anymore. In September 2012 ITG made an arrangement with the developer of the neighbouring outlet centre project in Wiedemar, to develop Brehna together. Construction work to remodell the existing shopping centre into an outlet centre is supposed to start soon.

Outlet Centres in Europe – September 2013 21

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Ludwigshafen am Rhein cancelled n.s. n.s. Metro Asset Manage- 10.000 In spring 2011, plans to turn the financially unprofit- (Rhineland-Palatinate) ment able "Walzmühle" shopping centre into an OC were abandoned again due to lack of demand from potential tenants. Now, large parts of the building are occupied by a Kaufland hypermarket and it is to be positioned as a centre for local supply. Werl (Northrhine- early plan- Werl The Style Neinver MAB Development 16.000 14.000 At the beginning of November 2011, Neinver & MAB Westfalia) ning phase Outlets Development presented to the Town Council of Werl their plans to establish an outlet centre near the motorway intersection.The procedure to obtain a building permit is supposed to be started soon. Neighbouring towns have already announced their opposition. Bad Münstereifel under ECO Eifel City ROS Retail Georg Cruse & Marc 16.500 9.000 In the historical old town of Bad Munstereifel, the 2 (Northrhine-Westfalia) construction Outlet Outlet Shop- Brucherseifer / 1A Outlet local businessmen Cruse & Brucherseifer are buying ping GmbH (Leasing) shops and buildings to form an inner-city outlet centre. Construction work has already started in May 2012 by the demolition of some buildings. All in all 40 shops are planned. The neighbouring towns have already announced to fight this project. Open- ing was planned for August 2013 but had to be delayed to Spring 2014. At the moment, due to a lack of information, it is not clear whether or not this project corresponds to ecostra's definition of an outlet centre. Stuhr-Brinkum (Lower operating Ochtum Park MiRo Grund- MiRo Grundstücksver- 20.500 15.000 Opened in 2001 as a rather random conglomerate of Saxony) Outlet Center stücksverwal- waltung GmbH / SJ- some outlet stores and some fullprice retailers such tung GmbH International as Takko fashion and a pet-food store. In the meantime various extensions and an almost standardised design of the buildings were implemented. Now the site encompasses almost 40 outlet stores and corresponds to ecostras´ definition of an outlet centre. Franfurt an der Oder early plan- n.s. n.s. n.s. 11.000 8.100 In the local retail development concept, the consult- (Brandenburg) ning phase ants of BBE recommended to establish an inner-city Outlet Centre at a site at the Slubice Street. So far no developer or investor is known to be interested.

Wuppertal (Northrhine- early plan- n.s. n.s. Uwe Clees 25.000 19.000 At the Doeppersberg, a location in the immediate Westfalia) ning phase proximity of the main station and the city centre of Wuppertal-Elberfeld, a retail complex is planned since years. Now the investor Uwe Clees came up with the idea to realize an outlet centre there.

Outlet Centres in Europe – September 2013 22

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Greece Athens operating Factory Outlet Factory Outlet Elmec Sport S.A. 14.000 13.000 Located in a retail park (next to IKEA) near Athens Airport S.A. Airport Piraeus operating Factory Outlet Factory Outlet Elmec Sport S.A. 13.000 12.000 Faliro S.A. Yalou (close to Athens) operating McArthurGlen McArthurGlen McArthurGlen Group / 21.245 20.500 Opened 02.06.2011; approx. 2,000 parking spaces Athens Bluehouse Capital Advi- sor Ltd

Lavrio cancelled Lavrio Village Europ Invest Europ Invest 25.000 An application for building permission has been Company Store Management made. Opening was planned for 2010, but construc- S.r.l. tion work didn't start yet. 2800 parking spaces. Hungary Törökbálint (west of closed GL Outlet Center GL Outlet Group GL 16.500 15.000 Project opened in November 2004. However, due to Budapest) location disadvantages and conceptual planning weaknesses, the centre was not able to compete with the neighbouring Premier Outlets Center in Biatorbágy and closed down operations at the beginning of 2011. The centre is now standing comple- tely empty. Biatorbágy (west of operating Premier Outlets Jones Lang Miller Developments / 22.880 20.000 Project opened in November 2004. The 3rd con- Budapest) Center LaSalle Raiffeisenbank Öster- struction phase was completed in August 2007 reich / AVIVA Central European Property Fund

Budaörs (west of Buda- closed M1 Outlet Center Óbuda-Újlak FTB Invest Kft. 16.500 Located in immediate proximity to the Premier Out- pest) lets Center in Biatorbágy. The centre was more a mixture between an OC and a traditional shopping centre. Due to the severe competition, it failed and closed again. The centre is now standing empty! Polgár operating M3 Outlet Center SJ Internatio- BTZ Kft. / M3 Outlet 10.900 9.500 Located on the M3 motorway in Eastern Hungary, nal Service Kft. between Miskolc and Debrecen. Opened on 17th May 2008. Change in management on 1st May 2012 from Jones Lang LaSalle to the developer's management company.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Ireland Killarney operating Killarney Outlet European Green Property 7.000 6.500 Village Outlet Markets Rathdowney operating Rathdowney Morrison Morrison Developments 7.500 6.800 Shopping Outlet Developments Kildare operating Kildare Outlet Value Retail 10.980 9.500 Project was opened in July 2006 Village Dundalk cancelled Ballymac Village n.s. Coverfield Developments 15.500 Building permission was granted in October 2004. Factory Outlet Ltd. / ING Real Estate Construction work has begun, but due to judicial Centre Developments proceedings the completion and opening originally planned for September 2006 was delayed; at the end of 2006, the project was abandoned by the operators due to the delays Dunleer cancelled n.s. Donal Kinsella 10.000 Completion is unlikely due to the development of the competition and the developer’s lack of experience Dublin cancelled City West n.s. Jim Masefield n.s. Up-to-dateness of information uncertain. Project possibly abandoned. Italy San Marino operating San Marino Facto- n.s. n.s. 5.000 ry Outlet Center

Serravalle Scrivia operating McArthurGlen McArthurGlen McArthurGlen Group / 38.710 36.375 Opened September 2000; approx. 3,500 parking Serravalle Henderson Global Inves- spaces. Enlargement by approx. 1,000 m² SA tors / EOMF planned

Bergamo closed La Galleria Factory Morrison Buontempo 14.000 12.000 Opened in 2003; approx. 1,100 parking spaces. In Outlet Center Developments the meantime, the centre has been turned into a classical shopping centre. Fidenza operating Fidenza Outlet Value Retail 17.285 15.000 Opened in 2003. Approx. 2,000 parking spaces. Village Rodengo Saiano (close operating Franciacorta Out- Premium DEGI Deutsche Gesell- 28.000 Opened in October 2003; enlargement by approx. to Brescia) let Village Retail S.r.l. schaft für Immobilien- 7,800 m² is planned; approx. 2,000 parking spaces fonds mbH / European Fashion Centres

Outlet Centres in Europe – September 2013 24

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Castel Guelfo di Bologna operating Castel Guelfo, The Neinver IRUS Property Fund / 24.600 20.000 Opened in May 2004; approx. 970 parking spaces. Style Outlets ING Real Estate / Nein- Centre was taken over by Neinver in June 2008 ver

Castel Romano (close to operating McArthurGlen McArthurGlen McArthurGlen Group / 32.000 29.000 Opened in October 2003. Last extension with ap- Rome) Castel Romano Henderson Global Inves- prox. 7.300 m² SA was opened in April 2013. Ap- tors / EOMF prox. 2,000 parking spaces

Valmontone (close to operating Fashion District Fashion Dis- Prime Retail / Sandretto 45.000 40.000 Opened in 2003; approx. 3,500 parking spaces; 170 Rome) Valmontone trict / Draco Spa shops; approx. 6 million visitors. At present, besides the OC, plans are underway to also establish a theme park ("Terramagica") as well as hotels Bagnolo San Vito (close operating Fashion District Fashion Dis- Prime Retail / Sandretto 33.000 20.300 Opened in 2003; approx. 3,000 parking spaces; to Mantova) Mantova trict / Draco Spa approx. 2.6 million visitors in 2008

Santhia (between Milan closed Fashion District Fashion Dis- 14.500 Standing vacant. Project built but never opened! and Turin) Santhia trict Foiano della Chiana operating Valdichiana Outlet Premium Gruppo Percassi / Europ 20.000 Opened in July 2005; approx. 3,500 parking spaces Village Retail S.r.l. Invest / DEGI

Molfetta (close to Bari) operating Fashion District Fashion Dis- Prime Retail / Sandretto 19.000 Opened in 2004; in construction phase II, an addi- Molfetta trict / Draco Spa tional approx. 13,000 m² SA is to be built; approx. 2,500 parking spaces; approx. 2.8 million visitors in 2010. At present, besides the OC, plans are underway to also establish a theme park ("Miragica - Terra di Giganti"), a Multiplex cinema and hotels Barberino di Mugello operating McArthurGlen McArthurGlen McArthurGlen Group / 27.500 23.000 Opened in March 2006; approx. 2,000 parking spac- Barberino Henderson Global Inves- es. In 2010, the centre had 3.3 million visitors. tors / EOMF / Gruppo Fingen

Vicolungo (Piemont) operating Vicolungo, The Neinver IRUS Property Fund / 34.100 28.500 Opened in October 2004; approx. 3,325 parking Style Outlets Neinver spaces; construction phase II opened April 2008. 150 shops and 3,400 parking spaces Palmanova (Friaul) operating Palmanova Outlet Promos S.r.l. Marangi Immobiliare Srl 24.000 15.000 Opened in May 2008; approx. 100 shops and 2,500 Village parking spaces. In 2009, approx. 3 million visitors. Plans are currently underway to round out the facilities with a retail & leisure park

Outlet Centres in Europe – September 2013 25

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Brennero (South Tyrol) operating Designer Outlet Shopping Huter / Pema Group / 14.000 12.850 Opened on 30.11.2007. Located in the town-center Brenner Center Bren- 1A Outlet GmbH (Leas- of Brenner, in immediate proximity to the Austrian ner GmbH ing) border. In October 2012 an MPreis-Supermarket was added to the centre. In a 3rd building phase an enlargement by another 2.000 m² GLA is planned. Sestu (Sardinia) operating Sardinia Outlet n.s. Gruppo Policentro S.r.l. / 29.700 15.000 Opened in April 2006; approx. 2,600 parking spaces. Village Cogest Italia S.r.l. Part of the "La Corte del Sole" shopping centre

Mondovi (Piemont) operating Mondovicino Filea Spa Viot Cerea S.r.l. / Tavol- 18.000 15.000 First construction phase, with approx. 60 shops, Outlet Village era S.r.l. / Gelmetti opened on 16th April 2008; approx. 24,500 m² SA are planned in the final enlargement; approx. 4,500 parking spaces Sant Oreste (close to operating Soratte Outlet Stores Devel- Cesi Scri Boldrin Spa 35.000 30.000 2,500 parking spaces Rome) Shopping opment S.r.l. Villesse (Friaul) cancelled n.s. Bernardi n.s. Up-to-dateness of information uncertain. Project possibly abandoned. Rome early plan- n.s. GL Outlet n.s. ning phase

Citta Sant' Angelo operating Citta Sant´ Angelo Citta Sant´ Europ Invest 19.000 16.500 OC opened on 24.09.2009; an enlargement by Village Angelo Village approx. 11,400 m² GLA is planned in an additional construction phase. Approx. 2,500 parking spaces Pescara cancelled Martinsicuro n.s. 20.000 According to the available information, the project Shopping Outlet has been abandoned again! Pescara uncertain n.s. n.s. n.s. 22.000 As part of the development of a theme retail park (cars & motorbikes with test track), it is planned to establish an OC as well as an adjoining furniture outlet park with an additional approx. 30,000 m² GLA. The project was presented at MAPIC 2008, but according to available information no progress could be seen so far. Ronchis (close to Udine) cancelled GLI Arsenali Outlet Stores Devel- GLI Arsenali / Cesi Scrl 30.000 Project abandoned. Shopping opment S.r.l. Boldrin Spa

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Marcianise (close to operating McArthurGlen La McArthurGlen Gruppo Fingen / Gianni 21.860 20.350 Project was opened in February 2010. Enlargement Naples) Reggia Carità e Figli S.r.l. / in construction phase II in October 2011. Approx. Studio GM / Espansione 145 shops, approx. 2,500 parking spaces. A solar Commerciale S.r.l. collector which covers 30% of the centre’s energy needs is installed on 2,700 m² of the roof surfaces.

Noventa di Piave (close operating McArthurGlen McArthurGlen McArthurGlen Group / 26.000 23.000 Project opened in September 2008; approx. 2,000 to Venice) Veneto Gruppo Fingen parking spaces. Enlargement by approx. 7,100 m² GLA in construction phase III was opened in March 2012. Since January 2012 the centre has the permission for Sunday opening. Roncade (Treviso) cancelled L'Arsenale Con- Lefim S.p.A. Gruppo Basso 18.000 Building was completed years ago; however, the temporary Outlet opening was delayed again and again. During the construction phase, the project was still being mar- keted under the name "Roncade Outlet Gallery". Now it can be assumed, that this project was given up. Taormina (Sicily) cancelled Sicily Designer McArthurGlen 20.000 Location on the A18 motorway between Catania and Outlet Messina. Project is no longer being pursued further by McArthurGlen. Calatabiano (close to early plan- Naxos Fashion CMC Ravenna / Larry 28.000 25.000 Building permission and trading license have been Taormina, Sicily) ning phase Garden Smith Italia S.r.l. / Brand obtained in 2009. It is possible to enlarge by approx. Partners Retail Devel- 30,000 m² SA to reach 55.000 m² SA. The developer opment Srl on the search for investors since years. There is no information, that he has been successful so far. Crespina (close to Pisa) advanced Pisa Outlet Village Promos S.r.l. 18.000 15.500 Approx. 2,500 parking spaces; opening was planned planning for the second half of 2012 but had to be post- phase phoned.

Melilli (Siracusa) operating Fashion District Promos S.r.l. Tecnall S.r.l. / UniCredit 24.000 20.000 1st construction phase opened on 11th November Melilli Outlet 2010. In a 2nd construction phase, the OC is to be enlarged to approx. 30,000 m². Approx. 2,500 parking spaces. Centre was taken over by Promos in April 2011 (former operator / investor was Fashion District). Grisignano (between cancelled Fashion District Fashion Dis- 30.000 24.000 Approx. 2,500 parking spaces. Opening of the 1st Vincenza & Padova) Grisignano trict construction phase (approx. 20,000 m² SA) was planned for end of 2010. Nothing happened yet. Projekt is probably abandoned.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Vicovaro (northeast of early plan- Vicovaro Outlet n.s. Parsitalia Real Estate 25.000 Located on the A24 motorway; approx. 2,500 par- Rome) ning phase Roma S.r.l. king spaces

Agira (Sicily) operating Sicilia Outlet Premium Gruppo Percassi 25.000 22.000 Opened on 26.11.2010. An additional approx. 6,000 Village Retail S.r.l. m² SA is planned in construction phase II; approx. 2,200 parking spaces San Nicola Varco - Eboli operating Cilento Outlet Promos S.r.l. Irgenre S.r.l., Banca 23.000 18.000 Located on the A9 Salerno - Reggio Calabria motor- (close to Salerno) Village Intesa / Banco di Napoli way; approx. 2,500 parking spaces. Enlargement to e Monte di Paschi di approx. 34,000 m² GLA is planned in construction Siena phase II. The location will open Sundays all year round. Construction began November 2010. Centre was opened at 15th December 2012. Settimo Torinese (Pie- early plan- Torino Fashion Premium n.s. mont) ning phase Mall Retail S.r.l.

Brugnato (La Spezia) advanced Company Stores Freeport Retail San Mauro SpA, Gruppo 22.500 17.000 Located at the motorway between Genova and planning Shopinn Brugnato Cariparma Crédit Livorno. Approx. 2,000 parking spaces. Construction phase 5 Terre Agricole, work was supposed to be started in spring 2012, but SDA Bocconi MAFED, there is no information so far, that there has been Jones Lang Lasalle, any progress. Coopsette

Reggello-Leggio (Firen- cancelled Fashion Valley n.s. Europ Invest 5.600 5.000 Opening was planned for March 2010. An additional ze) 13,000 m² GLA was supposed to be built in an additional construction phase by 2013. Nothing happened yet. It can be assumed that this project was given up. Fiumicino (close to early plan- MID Fiumicino n.s. UNI.ONE Srl / Merlino 29.000 24.000 Located on the Rome – Fiumicino motorway. 130 Rome) ning phase Outlet Progetti / Larry Smith Srl shops. Opening planned for 2013, but there is no information so far, that construction work has started. Locate di Triulzi (close to early plan- Scalo Milano Promos S.r.l. Lonati Group 60.000 45.000 Located south of Milan. This project was announced Milan) ning phase by Promos at the MAPIC 2012 and will be build in several phases. The outlet center will be part of a multi-use complex (outlet centre, food village, lifestyle centre). Approx. 4.000 parking spaces. Ope- ning is planned for 2015.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Latvia Riga cancelled n.s. n.s. Colliers n.s. An OC was planned on Riga Airport. Opening was planned for autumn 2007, but there have been no signs of the completion of the project to date. Pro- ject was possibly abandoned at last. Lithuania Vilnius operating Parkas Outlet Ogmios Ogmios 16.500 12.700 Located in north of Vilnius. Opening 2008. Mixture Centre between outlet and off-price centre. 54 outlet shops. Approx. 1,000 ground-level parking spaces Luxembourg Roeser (Canton Esch- uncertain n.s. n.s. Livange Developpement 28.000 The first outlet-mall of Luxemburg and a shopping sur-Alsette) S.A. centre are to be built next to a new football stadium for 10,000 visitors. Project is compatible with the “sectoral plans” of the State Government. In July 2011, the masterplan for the project was presented by the project developer. Since the project was dealt with in Parliament in October 2011, the planned area size seems hardly achievable and may have to be markedly reduced. In addition, in 2012 there were press reports about rumours of bribery in the con- text of this project. At the moment it seems to be rather uncertain whether or not this project will be realized at all. Netherlands Roermond operating McArthurGlen McArthurGlen McArthurGlen Group / 35.045 32.645 Opened in November 2001; approx. 2,700 parking Roermond Henderson Global Inves- spaces. The OC is open on Sundays all year round. tors / EOMF / Richard- At present, an average of approx. 65 % of all visitors sons Captial LLP come from Germany

Lelystad operating Batavia Stad Stable Inter- Freeland 26.000 24.000 Opened in 2001 Outlet Shopping national

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Roosendaal operating Rosada Factory Stable Inter- Stable International 17.850 12.500 Project opened by MDG in November 2006 and then Outlet national Development B.V. / sold to CBRE's fund DRET Masterfund CV; in De- Resolution Property cember 2012 it was sold to Resolution Property. Approx. 6,000 m² SA are to be built in construction phase II. According to the available information, the OC did not show satisfactory business results. As of January 2010, the investor initiated a change of operator from McMahon Development to Stable International. Bleizo (southeast of cancelled n.s. Stable Inter- 20.000 17.000 Project was to be built together with a leisure park Zoetermeer) national and an office centre. Another 5,000 m² GLA was supposed to be added in a further construction phase. In December 2012 the Government of the province of South-Holland decided by a small majori- ty to refuse the building-permit for this project. Haarlemmerliede (near advanced Haarlemmerliede Neinver MAB Development 18.000 15.000 Part of the "Sugar City" multi-use comlex (super- Amsterdam) planning The Style Outlets market, hotel, entertainment, offices). The zoning phase plan was adopted by the municipality in December 2009. Construction work is supposed to start in 2014. Opening is scheduled for the 4th Quarter of 2015. Almelo early plan- n.s. n.s. BAM / Wyckerveste 8.000 7.000 In combination with the construction of a new foot- ning phase ball arena, a retail complex with a total of 22,000 m² GLA is planned. Part of this retail complex is a small Outlet Centre. This retail complex is supposed to be necessary to finance the arena. Norway Vestby operating Norwegian Outlet Norwegian Castelar Corporate 12.500 11.000 Project was opened in June 2010! In addition, ap- Oslo Outlet Finance ASA, Glastad prox. 6,000 m² GLA are planned in a further con- Farsund AS & Fortus AS struction phase.

Poland Sosnowiec (Schlesien) operating Fashion House Fashion House Liebrecht & Wood 16.870 15.000 Opened in 2004; approx. 1,200 parking spaces; 2nd Outlet Centre Management construction phase was opened in September 2008. Sosnowiec Warszawa operating Factory Warszawa Neinver Neinver 13.500 11.000 Opened in December 2002; approx. 1,000 parking Ursus spaces

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Szadólki (close to operating Fashion House Fashion House Liebrecht & Wood 16.545 15.000 Opened in 2005. Approx. 770 parking spaces Gdansk) Outlet Centre Management Gdansk Piaseczno (south of operating Fashion House Fashion House Liebrecht & Wood 17.160 15.500 Opened in 2005. Up to now, 3 construction phases Warszawa) Outlet Centre Management have been completed. Approx. 800 parking spaces Warsaw Wroclaw operating Factory Wroclaw Neinver Neinver 13.800 11.500 Opened in October 2006; approx. 1,200 parking spaces Lubon (south of Poznan) operating Factory Poznan Neinver Neinver 14.800 12.500 Construction phase I was opened in September 2007, and phase II in September 2008; approx. 1,200 parking spaces Kraków operating Factory Kraków Neinver Neinver 22.000 18.000 Located on the A4 motorway. Location shared with the "Futura Park" retail park with a total of approx. 140 shops and approx. 1,200 parking spaces. Ope- ned in October 2011. Warszawa cancelled Centra Outlet n.s. Premiumred 15.300 The construction of a further 7,400 m² SA is planned Village Warsaw in a 2nd construction phase Warszawa operating Factory Warszawa Neinver Neinver 19.700 16.000 Approx. 122 shops and approx. 800 parking spaces. Annopol Construction work startet in February 2012, opening took place at 13th March 2013. Poznan cancelled Centra Outlet n.s. Premiumred 24.200 Up-to-dateness of information uncertain. Project has Village Poznan possibly been abandoned. Wroclaw cancelled Centra Outlet n.s. Premiumred 24.100 Up-to-dateness of information uncertain. Project has Village Wroclaw possibly been abandoned. Warszawa cancelled n.s. McArthurGlen Inter IKEA Centre Group 25.000 Located immediately next to the existing Targowek Park Handlowy retail park (includes IKEA, Decathlon, Electro World and Domoteka). McArthurGlen has withdrawn from the project again. Wolica (southwest of cancelled Premium Factory Sybil Maximus 9.000 Warszawa) Outlet Ltd Szczecin operating Outlet Park Szcze- CBRE Echo Investment 24.200 19.000 It was originally planned to build an Astra shopping cin centre at the planned location. Outlet centre was opened at 07th November 2012. Approx. 130 stores, thereof approx. 110 outlet stores. 1,400 parking spaces. The outlet centres incorporates a seven- screen cinema, a Piotr & Pawel supermarket and a Smyk Mega Store. Hybrid form of an outlet centre and a shopping centre.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Rzgów (close to Lodz) uncertain Ptak Outlet n.s. 1A Outlet GmbH (Lea- 27.000 23.000 Location inbetween an agglomeration of large scale sing) retail businesses with alltogether approx. 120,000 m² GLA. The outlet center is planned as a mall type with approx. 1,000 parking spaces. This project is announced for almost 5 years now. Currently there is no confirmed information whether or not the construction work has been startet yet. Bialystok under Outlet Białystok CBRE ADV POR Property 14.000 12.000 Location in immediate proximity to a Castorama construction Investment SA / Blue supermarket. Approx. 700 parking spaces, therof Ocean Investment approx. 300 in an underground garage. Opening is Group (BOIG) planned for Autumn 2014.

Lublin advanced City Outlet Lublin CBRE ADV POR Property 12.100 10.000 Building permit was issued in June 2013. 800 park- planning Investment SA / Outlet ing places. The opening is planned for the 1st quar- phase Center Retail Manage- ter 2014. ment SA s.k.a.

Portugal Lissabon operating Campera Outlet ESAF Mercasa 10.000 Shopping Alcochete (close to operating Freeport Outlet Freeport Retail Freeport 73.850 48.350 Approx. 2,400 parking spaces Lisbon) Alcochete Vila do Conde operating Vila do Conde,The Neinver Neinver 28.750 24.000 Opened in November 2004; approx. 1,600 parking Style Outlets spaces. Enlargement by approx. 13,150 m² SA, as well as an additional 1,400 parking spaces is planned in construction phase II. Alcantarilha uncertain Algarve Fashion Realm Outlet Bergerac Estates / RJ 13.200 Opening was planned for 2009, but to date no build- Outlet Center Centre Ma- McKinney ing activity is observable. Approx. 1,080 parking nagement spaces Faro advanced Algarve The Style Neinver 23.000 18.000 Located approx. 12 km away from Faro. Approx. planning Outlets 1,600 parking spaces. Opening is scheduled for phase 2014.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Romania Bukarest operating Fashion House Jones Lang The Outlet Company / 16.000 14.500 Opened in November 2008. Location on the Bucha- Outlet Centre LaSalle Liebrecht & Wood rest ring motorway (running towards Pitesti) is Bukarest West within the "West Park" retail park (includes Horn- bach and Kika). Approx. 2,700 parking spaces. The OC is to be enlarged to approx. 28,100 m² in a 2nd construction phase. Bukarest uncertain Fashion House Fashion House The Outlet Company 23.500 A 2nd fashion house location is planned on the east Outlet Centre Management side of Bucharest. Opening was initially planned for Bukarest East 2012, but no planning progress could be observed so far. Approx. 1,440 parking spaces Bukarest cancelled Escape Outlet American 16.000 Shopping Centre Outlet Overse- as Bukarest cancelled Mega Designer The MEGA CRC Chameleon Retail 35.000 Located on the western extension of the Bulevadul Outlets Company Consultancy Iuliu Maniu, on the A1 motorway (Bucuresti-Pitesti). The ground-breaking ceremony took place in April 2008. However, according to the available information, the project seems to have been abandoned again in the meantime. Timisoara cancelled Timisoara Outlet Promos S.r.l. 18.000 Approx. 2,500 parking spaces. An enlargement by Village approx. 7,000 m² is planned in construction phase II. Opening was originally planned for end of 2010, but no planning progress could be observed so far. It can be assumed that this project was cancelled. Russia Moscow operating Brandcity Outlet 000 Way 000 Way MKAD Location at the periphery of Moscow. Opened in Center MKAD 30.000 26.000 early 2012. Approx. 2,000 parking spaces. Moscow operating Fashion House Fashion House The Outlet Company / 28.640 25.000 Location directly next to Sheremetyevo International Outlet Centre Management Liebrecht & Wood / Airport, on the connecting road between Moscow Moscow Magazin Magazinov and St. Petersburg. In total approx. 165 shops and approx. 1,865 parking spaces. Construction began in April 2011. Opening took place at 27th June 2013.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Kotelniki (Oblast Mos- operating Outlet Village n.s. Belaya Dacha / Hines 38.000 30.000 Kotelniki is located approx. 22 km south-east of kau) Belaya Dacha International Real Estate Moscow. First building phase of the centre opend on Fund / Kotelniki Village 18th August 2012. Approx. 4,000 parking spaces. Holding Company Ltd. / Cushman & Wakefield

St. Petersburg early plan- Fashion House Fashion House 20.260 17.000 Location to the south-west of St. Petersburg near ning phase Outlet Centre St. Management Pulkovo Airport. Approx. 1,050 parking spaces. Petersburg Opening was delayed again and again but now is scheduled for 2014. Novosaratovka (close to cancelled Utka Outlet Centre Freeport Retail Utkina Zavod Develop- 23.000 19.000 Completion was scheduled to take place in 2 con- Leningrad) ment struction phases. The first phase was announced to open in summer 2012, the second in 2014. But nothing happened so far. It can be assumed that this project was given up. Moscow-Vnukowo operating Vnukowo Village n.s. Colliers International / 16.580 14.000 Location near the new Vnukowo Moscow Airport in Outlet Dmitry Kulkov / Ros- the south-western part of the city. Opening took siyskiy Kredit Bank place at 30th May 2013. Approx. 2,000 parking spaces. In a second building phase an additional 10,280 m² GLA plus 600 parking spaces are added to the project Moscow-Vnukowo advanced Outlet Village n.s. Belaya Dacha / Hines 20.000 18.000 Location at the Kievskoye Shosse, the main road planning Kievsky International Real Estate leading to the Vnukowo airport. Opening was sched- phase Fund / Espro Group uled for spring 2012, was according to available information was delayed to 2014.

Yekaterinburg early plan- Fashion House Fashion House 22.000 19.000 Fashion House is on site research for this project. ning phase Outlet Centre Management Yekaterinburg

Serbia Indjija (close to Belgra- operating Fashion House Fashion House Black Oak Developments 15.000 13.000 Approx. 2,000 parking spaces. Location on the E75 de) Outlet Centre Management / Colliers International motorway between Belgrade and Novi Sad. Con- Belgrade struction began in autumn 2010. The centre was opened in April 2012. An enlargement to a total of 30,000 m² SA is planned in a 2nd construction phase. Approx. 2,000 parking spaces

Outlet Centres in Europe – September 2013 34

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Stara Pazova (close to advanced Designer Outlet Roses Values Dayland Group / Eye- 9.000 7.000 Project is to be completed a 3rd construction phase; Belgrade) planning Stara Pazova maxx Real Estate in the final enlargement phase, 150 shops are phase planned on 24,500 m² GLA. Opening of the 1st construction phase was postponed several times already, now it's September 2013. Slovakia Senec under D1 Outlet City Stable Inter- IPEC 10.600 9.000 Construction began in November 2010, Opening was construction national planned for autumn 2011 but was delayed, first, to March 2013 and now to atumn 2013. Enlargement to approx. 19,600 m² GLA is planned in later phases.

Voderady pri Trnave under One Fashion Freeport Retail Realiz, SJ International 15.700 14.000 An OC is planned at the intersection of the D1 and construction Outlet GmbH, Rioja Develop- R1 motorways, approx. 30 minutes’ drive north-east ments Ltd., Rohleder& of Bratislava. Located immediately next to the Sam- Lumby Retail, Holder sung branch. Approx. 2,500 parking spaces are Mathias Architects planned. Construction work started in November 2012. Opening was delayed again and again; now opening is announced for October 2013.

Slovenia Ljubljana cancelled Premier Outlets GVA Outlet JV Development, Raiffei- 25.000 22.000 Located on the A2 motorway near Ljubljana Airport. Center Ljubljana Services sen Leasing The opening, which was originally planned for autumn 2010, has been postponed to spring 2012, but until today nothing happened. According to the available information, the project seems to be abandoned. Spain Madrid operating Factory Madrid Neinver Neinver 21.300 18.000 Opened in November 1999; approx. 4,500 parking Getafe spaces La Roca (Barcelona) operating La Roca Village Value Retail 18.500 15.000 Las Rozas (close to operating Factory Madrid Las Neinver Neinver 9.700 8.500 Opened in December 1996; approx. 1,250 parking Madrid) Rozas spaces Las Rozas (close to operating Las Rozas Village Value Retail 15.870 13.500 Madrid) Marratxi (Mallorca) operating Festival Park Es Mirral Varde 9.000 8.000 Located on the motorway from Palma to Inca Development Aldaia (close to Valenci- operating Bonaire Village Riofisa 15.000 13.500 a)

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Sevilla operating Sevilla Factory Unibail Ro- Unibail Rodamco 16.500 14.000 damco Sevilla operating Sevilla The Style Neinver Neinver 16.500 13.000 Opened in March 2000; approx. 1,200 parking spac- Outlets es Bormujos (close to operating Multifactory Aljara- n.s. 9.000 8.000 Sevilla) fe Cadiz operating Factory Guada- Cadiz Guada- 10.000 8.800 corte corte San Vicente de Raspeig operating Centro San Vicen- n.s. ING Real Estate 13.000 10.500 (close to Alicante) te Outlet Park

Barakaldo (close to operating Park Avenue Jones Lang Resolution Property 20.000 17.500 Located in a part of the "MegaPark" shopping and Bilbao) Fashion Outlet LaSalle leisure centre with a total area of 125,000 m²

Alcorcón closed Alcor Plaza Factory Twin Fall 9.200 Centre closed! Outlet San Sebastian de los operating Factory Madrid Neinver Neinver 23.800 20.000 Opened in September 2006; approx. 2,700 parking Reyes (north of Madrid) San Sebastian de spaces los Reyes Malaga operating Factory Shopping Detea Immobiliaria Iberdrola 10.000 Part of the "Parque Comercial Malaga Nostrum" Malaga Outlet shopping & leisure park

Tui (Galizien) operating OutleTUI Fashion DG Center 19.000 Center Atlantico Maspalomas (Gran cancelled Faro 3 Designer GVA Outlet 9.000 In Phase I Canaria) Outlet Center Services Saragossa uncertain Venice Port Retail Parks n.s. Concello de Culleredo operating Coruna The Style Neinver Neinver 12.800 10.000 Approx. 76 shops and 860 parking spaces; opened (close to Coruna) Outlets on 04.05.2011 La Jonquera (Katalonia) operating Outlet Center Gran Ainalita Grupo Escudero 12.000 10.000 Project shares location with a hypermarket and other Jonquera specialist retailers. Approx. 1,730 parking spaces; building permission was granted in July 2009. Open- ing was in May 2013. Currently there are still a lot of stores unlet.The centre is to open 365 days a year. Viladecans (Katalonia) advanced Viladecans The Neinver 25.000 21.000 Located between Castelldefels and the Barcelona planning Style Outlets Airport El Prat. Construction work is supposed to phase begin soon. Opening is scheduled for autumn 2016.

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Sweden Järfalla (close to Stock- operating Stockholm Quality Jones Lang Retail Parks AB / IKANO 12.500 holm) Outlet LaSalle

Arlandastad closed Arlandastad Outlet Outlet Centres 12.500 Centre closed! Village International (OCI) Kungsbacka (close to operating Freeport Designer Freeport Retail Freeport 16.700 15.700 Opened in 2001; approx. 1,000 parking spaces; Gothenbourg) Village enlargement by approx. 1,000 m² planned by 2012 Löddeköpinge operating Outlet Skane Reteam Group Löddeköpinge Trading 10.500 9.000 Follow-up use of a commercial property, which was Ltd vacant for many years. Located in an aggomeration of large scale retail units (e.g. Syd Shopping Centre, Bauhaus) in the north of Malmö. Mallcentre with 45 Stores and 700 parking bays. Opened in January 2012 Södertalje closed Festival Park Festival Park 14.000 Centre closed! Södertalje Switzerland Murgenthal (Canton operating Outletpark Interdomus Interdomus AG 10.000 8.000 Opened 1996 in the premises of the former Hanro- Aargau) Switzerland AG factory. 200 parking spaces Villeneuve (Canton operating Villeneuve Outlet n.s. Procimmo SA 10.000 8.000 Located in the industrial zone of Villeneuve, visible Vaud) but at the same time poorly accessible from the motorway A 9. According to available information the centre was poorly performing. In 2008 / 2009, Studio Silvio Tarchini (Foxtown Factory Shops) gave up operation. Including an outlet of the Swiss food retailer Migros and some other off-price-stores. Mendrisio (Canton Tes- operating Foxtown Factory Studio Silvio 30.000 25.000 Opened in 1995; Enlargement by approx. 7,500 m² sin) Stores Tarchini planned Rümlang (Canton Zü- closed Foxtown Factory Studio Silvio 5.000 OC was turned into a classical shopping centre due rich) Stores Tarchini to lack of success Wettingen (Canton closed FOC Wettingen FOC Wettin- 5.000 Centre closed! Aargau) gen AG Schönenwerd (Canton operating Fashion Fish Fashion Fish Tomaro AG 16.000 13.500 Enlargement by approx. 3,500 m² SA was opened in Solothurn) Premium Factory Premium April 2013. Outlet Factory Outlet

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Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Aubonne (Canton Vaud) operating Outlet Aubonne Inter IKEA Inter IKEA Centre Group 16.500 15.000 Project was opened on 24.10.2007 Centre Switzerland S.A. Igis (Canton Graubün- operating Alpenrhein Outlet ROS Retail ING Real Estate / 1A 21.000 18.000 Building permission was granted in December 2006. den) Village Outlet Shop- Outlet GmbH (Leasing) Construction started in July 2008, centre opened on ping 26th November 2009. As the whole Canton of Grau- bünden is a well-known tourist area, the OC can be open on Sundays all year round . At the end of August 2012, the management of the centre changed from Fashion House to ROS. Wigoltingen (Canton advanced Fashion Outlet n.s. JTM Rütenen AG, Nü- 10.000 Since 2006 there are plans to develop an outlet Thurgau) planning Edelreich esch Development AG centre on this site in immediate proximity to the phase motorway A1 / A7 (Constance - Zurich). The neighbouring German cities are opposing this project, but the appeals brought by the German towns of Con- stance, Radolfzell and Singen were rejected by the municipality at the beginning of September 2010. Should a law suit be brought by the German towns, the Canton of Thurgau and then, if need be, the Constitutional Court of Thurgau must deal with the case. Opening was planned for 2011, but has been postponed at first to autumn 2013, then summer 2015. Now, on the basis of "new findings" the municipalities of Wigoltingen and Müllheim have stopped the planning process. According to the developer, now the opening of the centre is planned for spring 2016. In a fist building phase, the centre will have approx. 10,000 m²; a Salesarea size of 30,000 m² is planned in the final enlargement phase. Ukraine Kiev uncertain Fashion House Fashion House 18.000 15.000 Since some years, the Fashion House Group an- Outlet Centre Kiew Management nounces to plan an OC near the Ukrainian capital Kiev. So far, no progress could be observed.

Outlet Centres in Europe – September 2013 38

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Kiev advanced Kiev E95 Outlet n.s. EVO Land Development, 16.730 13.000 Located 12 km to the south of Kiev at the intersec- planning Center CRC Chameleon Retail tion of the E95 motorway (to Odessa) and the new phase Centraleurope Ltd, DTZ ring motorway around Kiev. The centre is to be Ukraine enlarged to a total of approx. 26,050 m² GLA in 2 further construction phases. 134 shops (including a supermarket). Approx. 2,300 parking spaces. Build- ing permission has been granted. Construction work is supposed to start in March 2013. Opening planned for April 2014. Khodosivka (south of under Manufactura Rioja Develo- ADC Group, DEA Real 15.000 12.500 Located closeby to the largest shopping mall in Kiev Kiev) construction pment Estate Advisor "Mega Market". In combination with the outlet centre, there will be a hotel with 40 rooms. Approx. 1.000 parking spaces. Opening is scheduled for October 2013. United Kingdom Bicester (Oxfordshire) operating Bicester Village Value Retail 22.135 20.000 Outlet Shopping

Ellesmere Port (Cheshi- operating McArthurGlen McArthurGlen McArthurGlen Group / 32.345 30.005 Opened in March 1995; approx. 3,200 parking spac- re) Cheshire Oaks Henderson Global Inves- es. European OC front-runner for visitor frequency, tors / UKOMF with currently just under 8 million visitors p.a.

Swindon (Wiltshire) operating McArthurGlen McArthurGlen McArthurGlen Group / 19.465 18.535 Opened in March 1997; approx. 1,850 parking spac- Swindon Henderson Global Inves- es. Utilisation of an old steam locomotive factory tors / UKOMF which is protected as a historic monument. Con- struction work will shortly begin to enlarge the centre by approx. 4,600 m² SA, to be completed by 2014 Hatfield (Herfordshire) operating Galleria Outlet Land Securiti- GE Capital Real Estate 29.700 14.500 Center es Street (Somerset) operating Clarks Village Realm Outlet Hermes Real Estate 20.000 17.185 Centre Ma- nagement Hornsea (East Yorkshire) closed Freeport Hornsea Realm Outlet 8.100 The OC was sold by Freeport to a pension fund in Outlet Village Centre Ma- 2005. According to the available information, the nagement centre had increasing problems and was closed in 2009. Hartlepool (Cleveland) closed Jacksons Landing Schroder 5.500 Centre closed since July 2004! Property

Outlet Centres in Europe – September 2013 39

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Fleetwood (Lancashire) operating Freeport Fleet- Realm Outlet Hermes Real Estate / 11.000 9.500 Centre opened 1995 and was remodelled, rebranded wood Outlet Vil- Centre Ma- LaSalle Investment and relaunched by Realm in 2006 lage nagement Management

Doncaster (South operating Lakeside Village Realm Outlet Realm Outlet Centre 15.000 13.000 Centre is part of the 300 acre mixed use develop- Yorkshire) Outlet Shopping Centre Ma- Management / LaSalle ment known as the Doncaster Lakeside Project nagement Investment Management North Shields (Tyneside) operating Royal Quays Waxy Ma- 15.000 12.300 nagement Batley (West Yorkshire) operating The Mill Realm Outlet 11.610 10.000 Enlargement by approx. 2,000 m² GLA is planned. Centre Ma- 550 parking spaces nagement South Normanton (Der- operating McArthurGlen East McArthurGlen McArthurGlen Group / 14.975 13.000 Opened in October 1998; approx. 1,200 parking byshire) Midlands Aviva Investors / Rich- spaces ardsons Capital LLP York operating McArthurGlen York McArthurGlen McArthurGlen Group / 22.805 21.325 Opened in November 1998; approx. 2,700 parking Aviva Investors / Rich- spaces ardsons Capital LLP Ashford (Kent) operating McArthurGlen McArthurGlen McArthurGlen Group / 16.945 15.000 The architect of the centre was Lord Richard Rogers. Ashford Ashford Limited Partner- Opened in March 2000; approx. 1,450 parking spac- ship und verschiedene es UK Pension Funds Bridgend (Wales) operating McArthurGlen McArthurGlen McArthurGlen Group / 19.415 18.050 Opened in May 1998; approx. 2,000 parking spaces. Bridgend Henderson Global Inves- Besides 90 outlet shops, there is also a cinema tors / UKOMF centre

Livingston (Scottland) operating McArthurGlen McArthurGlen McArthurGlen Group / 28.040 24.565 Opened in October 2000; approx. 2,000 parking Livingston Aviva Investors / Rich- spaces. At present, 83 outlet shops, as well as fit- ardsons Capital LLP ness club and Multiplex cinema centre

Alexandria (Scottland) closed Loch Lomond The Guinea 5.500 Centre closed! Factory Outlet Group Clacton on Sea (Essex) operating Clacton Factory The Guinea 12.500 11.000 Outlet Group Ebbw Vale (Wales) operating Festival Branded Chester Pro- 9.300 8.500 The completion of a further 2,300 m² GLA is Outlet Shopping perties planned in a 2nd construction phase from 2011 on- wards Tillicoultry (Scottland) operating Sterling Mills Realm Outlet CBRE Investors 10.000 8.000 Designer Outlet Centre Ma- Village nagement

Outlet Centres in Europe – September 2013 40

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Westwood (Scottland) closed Freeport Scotland Freeport Retail 8.500 Centre closed! At present, plans are underway to Outlet Village revitalise i.e. relaunch the centre

Rowsley (Derbyshire) operating Peak Village Terrace Hill 6.000 5.000 Dungannon (Northern operating The Linen Green Maggasted 11.500 10.000 Ireland) Community Development Gretna (Scottland) operating Gretna Gateway Lordland 11.000 Outlet Village International Braintree (Essex) operating Freeport Braintree Realm Outlet Hermes Real Estate 20.000 18.500 The centre was remodelled, rebranded and Designer Outlet Centre Ma- relauched by Realm in 2006 nagement Gilford (Northern Ire- uncertain Gilford Outlet Mill Lordland 10.000 Addition of approx. 2300 m² exhibition and event land) International area. Glasshoughton- operating Junction 32 Outlet Realm Outlet Hermes Real Estate / 25.000 23.200 Opened 1999; remodelled, rebranded and re- Castleford (West Shopping Village Centre Ma- LaSalle Investment launched in 2006. Approx. 1.400 parking spaces. Yorkshire) nagement Management

Portsmouth (Hampshire) operating Gunwharf Quays Lordland 18.000 15.000 International Stoke on Trent (Staf- operating Freeport Outlet Realm Outlet Hermes Real Estate / 15.000 13.000 fordshire) Mall Centre Ma- LaSalle Investment nagement Management

Bideford (North Devon) operating Atlantic Outlet Cushman & Drake Bideford Limited / 14.000 8.800 A hypermarket with approx. 5.000 m² SA is to be Village Wakefield The Wessex Fund / added to the location Realm

Whiteley (Hampshire) closed Whiteley Village Raven Russia British Land 18.000 15.000 Due to the pressure of competition from the rival Ltd. locations of Gunwharf Quays (Portsmouth) and West Quay (Southampton), the centre failed to achieve the expected financial success. After only less than 10 years of operation, it will now be demolished and in its place a shopping centre with approx. 30,000 m² GLA and 1,136 parking spaces is to be established. Opening is planned for 23th May 2013. Salford Quays (bei operating Lowry Outlet Mall Orbit Develo- Peel Holdings 28.000 18.580 Manchester) pment Aldershot (Hampshire) closed The Galleries The Guinea 12.000 According to the available information, the centre Group was closed due to an increase in vacant shop units!

Outlet Centres in Europe – September 2013 41

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Murton (Durham) operating Dalton Park DTZ ING Real Estate 14.900 13.000 In March 2013 ING Real Estate received the building permit, to add a supermarket, cinema, restaurants, petrol station, hotel and a pub to this centre. Con- struction work for this 2nd phase is supposed to start 2014. Dundee (Scottland) closed City Quays Forth Proper- 5.000 Due to lack of success, the OC was closed and will ties be turned into a leisure and fashion centre Brighton (East Sussex) operating Brighton Marina Parkridge 13.500 Shopping Developments Chatham (Medway) operating Dockside Outlet Chatham 13.500 Centre Maritime Developments Antrim (Northern Ire- operating Junction One Realm Outlet CUSP / The Kennedy 25.000 22.800 Approx. 3,000 parking spaces. Enlargement by land) Centre Ma- Group / Dunalastair approx. 5,500 m² SA is planned nagement Estates / The Guinea Group

West Bromwich (West operating Astle Outlet Park Realm Outlet B.I.S. (Postal Services 13.000 11.600 Midlands) Centre Ma- Act 2011) Company Ltd. nagement

Banbridge (Northern operating The Outlet Village n.s. GML Estates / Orana 20.000 18.000 Project was opened at the beginning of April 2007; Ireland) Banbridge Group / Land Securities according to the available information, business has not been satisfactory to date. There are still a lot of store units vacant. Kendal (Cumbria) operating K-Village Realm Outlet CUSP / The Kennedy 9.000 7.430 Centre Ma- Group / The Guinea nagement Group

Gloucester (Glouces- operating Gloucester Quays Peer Holdings Peel Holdings / British 31.000 17.900 The OC is part of an extensive regeneration measure tershire) Outlet Centre Waterways in the harbour district; phase I 2007 College, phase II 2008 road connections, phase III 2009 outlet centre. Approx. 1,400 parking spaces. Phases I + II concluded. Opened in May 2009. Spalding (Lincolnshire) operating Springfields Outlet n.s. UBS Triton / Markham 12.000 10.000 Opened in 2004 Shopping & Festi- Vaughan Gillingham val Gardens Galashiels (Scottland) uncertain Eildon Walks Bridgemanors 7.500 Up-to-dateness of information uncertain. Project possibly abandoned.

Outlet Centres in Europe – September 2013 42

Location Status Name of the Operator Developer / Investor Gross Retail Remarks Centre / other Partners Leasable Sales Area Area (GLA) in (SA) in m² m² Middleton (Manchester) uncertain Warwick Mill New Capital 10.000 Up-to-dateness of information uncertain. Project Properties possibly abandoned. Brownhills (Staffordshi- uncertain Silver Street Morrison 18.000 Up-to-dateness of information uncertain. Project re) Developments possibly abandoned. Cannock (Staffordshire) uncertain Chasewater London & 22.000 Up-to-dateness of information uncertain. Project Cambridge possibly abandoned. Properties London under London Designer Realm Outlet Quintain Estates and 16.000 13.000 An OC with 85 shops and 700 parking spaces is construction Outlet Centre Ma- Development planned directly next to the football stadium in the nagement London Borough of Wembley. 15 restaurants and 1 Cineworld cinema centre are still planned as sup- plementary facilities. The total leasable area of all facilities amounts to approx. 35,000 m² GLA. Ope- ning is planned for autumn 2013.

London early plan- n.s. n.s. Anschutz Entertainment 20.000 18.000 In the meantime, portions of the former "Millennium ning phase Group / Pradera Dome" in the London Borough of Greenwich are being used as concert halls, while other sub-areas are now to be turned into an outlet centre. 118 shops on 2 sales levels are planned. Opening is planned for the middle of 2014.

Tewkesbury (Glouces- early plan- n.s. n.s. Robert Hitchins Ltd. 20.000 17.500 Just off junction 9 of the M5 motorway an outlet tershire) ning phase centre is planned. Alongside it, ther would be a garden centre. Approx. 2,000 parking spaces. Open- ing is scheduled for 2016.

Outlet Centres in Europe – September 2013 43

Outlet Centres in Europe – September 2013 44

Pictures of selected Outlet Centres

Outlet Aubonne, Aubonne (CH), Inter IKEA Centre Switzerland S.A.

McArthurGlen Barberino, Barberino di Mugello (I) Factory Madrid Getafe, Madrid (E) McArthurGlen Neinver

Designer Outlet Soltau, Soltau (D) Wertheim Village, Wertheim (D), ROS Retail Outlet Shopping Value Retail

Outlet Centres in Europe – September 2013 45

Fashion House Outlet Centre Sosnowiec, Sosnowiec (PL) Fashion Fish Premium Factory Outlet, Schönenwerd (CH) Fashion House Management Fashion Fish Premium Factory Outlet

Valdichiana Outlet Village, Foiano della Chiana (I), Premium Retail S.r.l.

McArthurGlen Neumünster, Neumünster (D) Closed down: GL Outlet Center, Törökbálint (HU), McArthurGlen GL Outlet

Zweibrücken The Style Outlets, Zweibrücken (D) Ardennes Outlet Center, Verviers (F) Neinver Comer Homes Group

Outlet Centres in Europe – September 2013 46

Outlet Centres in Europe – September 2013 47

Outlet Centres in Europe – September 2013 48

Sample taken from the Publication "The big ecostra Outlet Center Handbook Europe 2011"

Outlet Centres in Europe – September 2013 49

CONTACT

ecostra GmbH Economic, Location and Strategy Consultancy in Europe

Luisenstrasse 41 D-65185 Wiesbaden

Tel. +49 – (0)611 – 71 69 575 0 Fax +49 – (0)611 – 71 69 575 25 www.ecostra.com [email protected]