Springfields Outlet in Lincolnshire has reinforced its position as the leading shopping and leisure destination in the East of England with 14 years of consecutive revenue growth and significant increases in both footfall and revenue over the Christmas trading period.
December’s total revenue increased by +15% year-on-year and footfall by +9% YoY across the same period. 66% of all like-for-like retailers traded above last year by as much as +63%. Both like-for-like footfall and revenue increased over the school holidays by +11% and +17%, respectively. The destination achieved its highest ever weekly sales volume during December 2018, beating the previous record set in 2017 three times, whilst weekly turnover increased by up to +20%.
The centre also had its most successful late-night trading period ever, with an increase in evening sales after 6pm of +27% YoY and footfall by +30% From 19th Nov to 20th Dec Inclusive. Trading was further boosted by a varied events programme including the scheme’s busiest ever Christmas light switch on event. The lights were turned on by Peter Andre, attracting a crowd of more than 6,000 visitors which resulted in a daily revenue increase of +22%. Additionally, the Winter Sale saw revenue increase +10% for it’s first week from Boxing Day, compared with the same period last year.
Ian Sanderson, Director of Sanderson Leisure and Retail (SLR) at Springfields Outlet, said: “As the figures demonstrate, we had a very successful and positive December at Springfields to complement a transformational year at the centre. Our newest retailers, including Jack Wills, White Stuff and Joules, have enjoyed exceptionally strong performances since opening in the second half of last year and have been further boosted by a fantastic Christmas at the centre. The strong performance of Springfields illustrates the continued resilience of the outlet sector and the increasing importance of a mixed-use offer in creating a destination.”
Owned by the Triton Property Fund, managed by UBS, Springfields Outlet is managed by SLR. Established in 2016 by Ian Sanderson, SLR now manages or advises on over 80,000 sq ft of UK retail and development space across more than 130 acres in the UK. The trading boost follows the scheme’s re-branding last year and the opening of a new £1.2m integrated leisure offer, branded Springfields Adventure Land, introduced by SLR in summer 2018. The new attraction comprises eight themed attractions including the largest JCB Young Driver’s Zone in the country. This has helped to strengthen the outlet’s position as a destination, providing something that appeals to everyone.
The combination of outlet shopping, featuring more than 50 top-name brands, and an integrated leisure and dining offer has increasing attracted visitors looking for a memorable family day-out. Consequently, customers are visiting Springfields Outlet from further afield and staying for longer. Research by Pragma Consulting shows that the inclusion of leisure is increasingly important in driving footfall to a scheme. This has benefited retailers and attracted interest from more aspirational brands enabling the destination to improve the tenant mix, illustrated by the recent openings of The Cosmetics Company Store, Jack Wills, Joules and White Stuff.
The scheme is host to a number of top retail brands such as Fat Face, Next, Skechers, GAP, Ernest Jones, Radley and M&S. Casual dining restaurants and ‘grab-and-go’ operators centred around four eye-catching plazas complement the shopping and leisure experience and include Frankie & Benny’s, Starbucks, Costa Coffee and the newly-opened, developer-operated Springy’s American Diner.
Agents for Springfields Outlet are Knight Frank and SPACE Retail Property Consultants.
