Henderson Global Investors has opened the third phase at McArthurGlen Castel Romano Designer Outlet near Rome.
The expansion includes an additional 43 stores, with some of the most sought-after names in fashion and will increase the retail offer by almost a third.
The centre, owned by Henderson Global Investors, on behalf of its European Outlet Mall Fund, is managed and developed by McArthurGlen. It is one of five McArthurGlen Designer Outlets in Italy.
The centre originally opened nearly ten years ago, in October 2003. It was purchased by Henderson's European Outlet Mall Fund in December 2005 and has since been extended twice. This latest, 7,500 sq m expansion represents the third phase of the centre, and makes it one of the largest designer outlets in Italy with a total of 160 stores and 30,000 sq m of retail space.
Andrew Rich, director of outlet malls at property at Henderson Global Investors said: "Designer outlets have been one of the strongest performing retail sectors across Europe over the past decade. We have seen particularly high footfall across our Italian portfolio and are delighted by the success of the first two phases of McArthurGlen Castel Romano Designer Outlet. The first class tenant line-up, coupled with the resilient nature of the outlet sector and McArthurGlen's expert management, continue to prove a winning combination for our investors. We are confident the third phase will drive investment performance even higher."
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