26 Nov 2020
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NEINVER and Nuveen Real Estate open Amsterdam The Style Outlets, their first outlet centre in the Netherlands
- The €110 million development, which creates approximately 600 direct jobs, is the first outlet centre in Greater Amsterdam
- The project has met the opening deadline despite the COVID-19 pandemic
- It opens with around 75% occupancy and a curated mix of brands, some of them debuting for the first time in the Dutch outlet market
This €110 million development will create around 600 direct jobs and is the first project in the Netherlands for the joint venture between NEINVER, the second-largest outlet operator in Europe and the largest in Spain and Poland, and one of the world’s largest investment managers Nuveen Real Estate.
With Amsterdam The Style Outlets, the joint venture expands its international footprint to five countries (France, Italy, the Netherlands, Poland and Spain) and increases its portfolio to 15 operating assets, with a €1.4 billion GAV, strengthening its position as a leading investor in the European outlet industry. For NEINVER, co-owner and manager of the centre, this is the 21st asset in its expanding portfolio, which now spans 510,000 m2 of GLA.
Amsterdam The Style Outlets features 19,000 m2 of GLA and over 100 stores. The centre is opening with around 75% occupancy and a curated fashion shopping selection, with some brands debuting for the first time in the Dutch outlet market. Top brands at the centre include adidas, Björn Borg, Dstrezzed, Geox, GUESS, Karl Lagerfeld, New Balance, Nike, O’Neil, Petrol Industries, PUMA, Salomon, Skechers, S. Oliver and The Kooples, among others, with more firms scheduled to join the line-up after the opening.
“The opening of our 21st centre and first outlet centre in the Netherlands, one of the European countries with the highest GDP per capita, marks an important milestone for the company and strengthens our position as a leading European operator and a trusted partner to our stakeholders,” says Daniel Losantos, NEINVER’s CEO. “We have met the opening deadline despite the adverse situation. This reflects the importance of 25 years of expertise, combined with hard work and a strong proposition for retailers. We are convinced that this centre will become a success in the outlet space and a driver for the economy in the region, more necessary than ever in these challenging times.”
“The opening of this latest outlet centre in Amsterdam is a welcomed next step in growing the presence of The Style Outlets across Europe. We are excited to be the first operator in the Greater Amsterdam area, bringing high-quality brands to the region. At Nuveen Real Estate, we remain committed to the outlet sector and are looking forward to continuing to grow our portfolio through this joint venture,” adds Charlotte Ashworth, Fund Manager at Nuveen Real Estate.
About Amsterdam The Style OutletsIn addition to its exciting brand mix, the centre includes a complete offer of guest services, including free Wi-Fi, concierge service, mobile charging stations, baby care rooms and VAT refund. Moreover, 1,000 m² are dedicated to leisure areas, restaurants with outdoor seating, and walkways to provide a complete shopping experience. Moreover, the centre features 2,230 parking spaces for cars and 200 for bicycles.
The Dutch outlet is the first outlet development in the Randstad area, one of the wealthiest and most densely populated regions of Europe which includes the four largest Dutch cities, with a catchment area of 12 million people within 90 minutes’ drive. The centre combines its strong catchment area with its proximity to Amsterdam’s Schiphol airport, (less than 10 minutes by car), and easy access to the Dutch capital (an 18-minute drive to the city centre) and Haarlem. The centre is located next to Halfweg-Zwanenburg railway station, two stops away from Amsterdam Central Station.
With a village design inspired by traditional Dutch architecture, the architecture of Amsterdam The Style Outlets is reminiscent of old factory buildings and is inspired by the historic SugarCity site where the outlet is located. Because the outlet centre is built on stilts and is located on the water, the centre also seems to rise from the water: a nod to the traditional Amsterdam architectural style. Developed in line with high sustainability standards, the centre has obtained BREEAM New Construction certification in the design phase.
About NEINVERNEINVER is a Spanish multinational company specialised in managing, developing and investing in commercial and logistics properties. The leading manager of outlet centres in Spain and Poland, and the second largest in Europe, it has two proprietary brands: The Style Outlets and FACTORY. Founded in 1969, NEINVER manages 18 outlet centres and 5 retail parks including active pipeline and more than 800 brands in six European countries: France, Germany, Italy, Poland, Spain and the Netherlands. In line with its commitment to sustainability, NEINVER has certified 90% of its retail portfolio in Europe under BREEAM In-Use and under three ISO standards (9001, 14001 and 50001). www.neinver.com
About NuveenNuveen Real Estate is one of the largest investment managers in the world with $129 billion of assets under management.
Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, we provide access to every aspect of real estate investing. With over 80 years of real estate investing experience and more than 660 employees* located across over 25 cities throughout the United States, Europe and Asia Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise.
For further information, please visit us at nuveen.com/realestate
*Includes 315+ real estate investment professionals, supported by a further 340+ Nuveen employees.
Source: Nuveen, 30 Sep 2020.
Source: Nuveen, 30 Sep 2020.