Gloucester Quays, shopping outlet is reported to be going on the market with a price tag of £85m.
According to React News and to Punchline, the sale will be handled by Cushman & Wakefield on behalf of Peel Lifestyle Outlets, the owner of the retail destination.
The shopping centre previously went on the market in 2021 for £105m, as reported by GloucestershireLive. The latest financial information on Companies House show that Peel Outlets (Gloucester) made a profit of £3.29m for the year ended March 31 2023, compared to £15.36m loss in 2022.
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Asked about the sale reports, a spokesperson from parent company Peel L&P told BusinessLive: "Gloucester Quays is currently trading strongly and with a recent flurry of new store openings, including Timberland and Levis, our shopping and leisure destination is expecting to exceed targets for the final quarter of the year.
"As we enter our peak trading period, we will be reviewing our options to ensure the continued success of Gloucester Quays throughout 2024 and beyond."
Gloucester Quays opened its doors at Gloucester Docks in 2009 with an investment of £248m. It is now home to brands including AllSaints, Adidas, Crew Clothing, Fatface, Jack Wills, Joules, Marks & Spencer, ProCook and Ted Baker, to name a few.
In 2013, Cineworld opened at the Quays as part of a further £60m investment, which brought more restaurants to the development. It currently offers a range of restaurants including Zizzi, Nando's, Pizza Express, Five Guys, TGI Friday's, Bill's, Cote Brasserie, Portivo Lounge and new Turkish restaurant, Anatolian Palace.
Recently, Peel L&P announced that the series of new deals at Gloucester Quays totalled over 13,890 sq ft of retail space. The regional developer confirmed that eight brands had opened in the retail space including accessories brand Claire's and footwear brand Pavers.
Paul Carter, asset director at Peel L&P, added: “Gloucester Quays has taken some big steps forward this year, and having a constant stream of new leasing, renewals, and refits is what has kept the offer strong and compelling. All of these brands will help us deliver diversity of retail, creating more choice for our customers, and we are delighted that they have committed to Gloucester Quays.”
BusinessLive has contacted Cushman & Wakefield regarding the reported sale.
