VIA Outlets has completed the purchase of “Zweibrücken The Style Outlets”Download press release
VIA Outlets announces that it has completed the purchase of “Zweibrücken The Style Outlets” from IRUS European Retail Property fund. The acquisition of Germany ́s largest outlet centre strengthens VIA Outlets’ expansion strategy and reinforces its presence in the European outlet market.
Zweibrücken The Style Outlets, located in Rhineland-Palatinate, benefits from a privileged location on the borders of Germany, France and Luxembourg within a catchment area of 15 million inhabitants. With approximately 29,000 sq.m GLA and 114 high quality outlet shops, the centre offers a wide range of national, international and premium brands including Armani, Michael Kors, Polo Ralph Lauren, Tommy Hilfiger, Abercrombie & Fitch and Versace. The well- established asset welcomed more than 3.8 million visitors per year.
VIA Outlets is a joint venture formed by UK REIT Hammerson plc, Dutch pension fund asset manager APG, European retail estate investment manager Meyer Bergman and outlet centre specialist Value Retail.
The four partners established VIA Outlets to take advantage of strong growth in the European outlet sector. Since 2014 the joint-venture has acquired Batavia Stad Amsterdam Fashion Outlet (The Netherlands), Fashion Arena Prague Outlet (Czech Republic), Hede Gothenburg Fashion Outlet (Sweden), Freeport Lisbon Fashion Outlet (Portugal), Landquart Fashion Outlet (Switzerland), Festival Park Outlets (Spain), Sevilla The Style Outlets (Spain) and Factory Wroclaw (Poland).
This latest acquisition adds scale and quality to VIA Outlets’ pan-European portfolio, which now comprises nine centres in eight European countries with a total GLA of about 197,000 sq.m. and some 875 stores.
The new owner of Zweibrücken The Style Outlets is looking forward to working closely together with its tenants, and committed to working in close cooperation with the municipality of Zweibrücken and other key stakeholders.
VIA Outlets is currently reviewing plans to upgrade the outlet centre – such as introducing more premium brands and improving visitors’ experience – and is exploring fresh initiatives to attract new visitors. This will result in a complete re-branding of the centre, including a new name, within the next few months.