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News Release

Wellington

Outlet malls among the highest performers


 

 

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​​​​One of the best performing sectors through the downturn has been the outlet mall sector. Retail industry trends suggest that consumer purchasing behaviours have changed and a preference for outlet malls over regular malls has emerged. JLL is predicting a strong period of performance for the outlet mall sector as the austerity ethic in the retail sector continues through the recovery.

Sarah Dominey, Research Consultant for JLL says, “Specialist outlet mall providers can expect to perform significantly better than even the highest performing mid-market malls. Outlet malls have the potential of achieving in excess of 20% higher sales per square metre than mid-market malls. Drivers for better performance include a wider catchment area which often includes higher numbers of foreign consumers due to the specialty nature and ‘good value’ pricing levels.”

Consumers today have lost their appetite for debt and are now living much more within their means. Due to the economic uncertainty, everyone is sensitive to price and retail shoppers are looking for bargains. Outlet City, 34 Main Road, Tawa, Wellington, formally Dress Smart until bought by Prime Property in August 2013, is the only factory outlet in the Wellington region and has been the capitals favourite destination for value priced clothing and lifestyle products for almost two decades. Outlet City is enjoying the benefits of nearby large scale housing developments, continued growth in tourism from direct connections to Australia and the growing trend of outlet retailing worldwide.

Leasing opportunities at Outlet City are now available through commercial real estate firm, JLL. Located just off State Highway 1, Outlet City is a ten minute drive from Wellington CBD and has a train station within five minutes walking distance. The easily accessed location of the centre attracts a variety of consumer types hungry for a bargain including local workers, retired couples, teenagers, families and tourists. Situated on Wellington's growth corridor, the region is experiencing strong population in traffic growth and the nearby large scale housing developments have positioned the centre for continued success.

Outlet City is offering retail units from 21.5 sqm to 110 sqm and over if tenants require, with planned future development and scale to grow, whatever the requirement outlet city will make it happen. The centre plans to provide added capacity for bulk and specialty retail, along with food and entertainment operators and will include large scale, standalone units ideal for fashion, homeware, appliance, lighting, craft and pet stores. Food and beverage will form a key part of the new complex with indoor and outdoor space for quality cafe and takeaway operators. With the change in ownership, Outlet city is seeing renewed focus, exciting new leasing’s and a new strategy that redefines the outlet shopping experience for both customers and retailers.

Flexible options enable tenants to develop store formats, frontages and position to best suit their needs. There are currently 36 tenancies with a fantastic retail mix including Adidas, Cotton On, Barkers, Bendon, Max Fashions, New Balance, Pumpkin Patch, Bendon, Rodd & Gunn, Factorie and many more. Along with a great range of retailers, Outlet City also boasts 455 free onsite car parks, extensive signage opportunities, pop-up stores and flexible terms. There is also a popular play area for children that keep them entertained while parents shop - and plenty of space for customers to relax.

Outlet City Tawa is a complete retail mall environment, providing suitable footprints for retailers of many sizes. The centre itself is ideally located an easy drive from the large suburban areas of Wellington, the Hutt Valley, Porirua and the Kapiti Coast. Planned future development to the roads in the area is expected to significantly increase traffic to the centre.