Resolution and Lalandia plan €120m Danish outlet mall

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UK-based value-add European real estate fund manager Resolution Property has formed a joint venture with Lalandia to develop a €120 mln Designer Outlet project in Billund, Denmark, which is set to open in 2019.

 

Resolution will be the majority partner in the outlet centre joint venture, holding 90%, with current landowner Lalandia, the Danish holiday village operator, accounting for the remaining 10% share.

The joint venture will own the development site, which benefits from building permission for 20,000 m2 of outlet retail over two phases.

'Billund Designer Outlet is a significant step forward in our strategy to expand our portfolio of top quality outlet centres in Europe,' commented Shane Scott, Resolution's partner and head of asset management.

Construction of the 12,084 m2 Phase 1 is expected to start early 2018, completing in spring 2019, while the 8,496 m2 Phase 2 is scheduled to start in early 2019 with completion in autumn 2020.

The outlet is located in proximity to the three biggest Danish cities Arhus, Odense and Esbjerg and less than 90' minutes from the German border. It has an estimated catchment of 2.3 million.

Stable International will be retained as the management operator and will work alongside Scalabuild as leasing agents of the centre. HMA is the architect.

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