The land has been purchased by the joint venture between McArthurGlen, Aviva Investors (on behalf of Aviva Life and Pensions), The Richardson Family and U+I.
The land will be developed to deliver the new £160 million McArthurGlen Designer Outlet Cannock. The pioneer of designer outlet shopping in Europe, McArthurGlen opened its first centre near Manchester in 1995 and their portfolio now comprises 24 centres in nine countries across Europe and Canada. With a planned opening for 2020, Phase I will be home to over 80 premium and luxury brands, together with a range of restaurants and cafes and 1,400 car parking spaces.
Councillor George Adamson, Leader of the Council said “I am delighted that the land purchase is complete. A lot of work has taken place to get us to this stage. This is a key milestone for this development, which will significantly raise the profile of the District with an estimated 11 million consumers living within a 90-minute catchment. This is the best thing to ever happen to Cannock and will put Cannock on the national and international retail map as well as provide a substantial economic boost for the area.”
Councillor Gordon Alcott, Portfolio Leader for Economic Development and Planning said “McArthurGlen Designer Outlet Cannock represents the biggest single investment in the District ever made. The jobs and economic benefits the development will bring create significant opportunities for the immediate District and beyond. This is recognition of many years of work by Council officers in securing the purchase and should be rightly recognised at this important milestone.”
Gary Bond, Joint Managing Director of Development at McArthurGlen said, “We look forward to creating this landmark retail destination and community hub for the West Midlands, which will create 1000 jobs and support around £20 million of employment income for the local economy every year. McArthurGlen Designer Outlet Cannock will be built to the highest standards of architectural design and sustainability, reflecting and respecting the Area of Outstanding Natural Beauty surrounding the centre.”