Lifestyle Outlets, part of Peel L&P, has recorded significant sales growth at Lowry Outlet, as an experience-led approach has achieved an 8.5% Year-on-Year (YOY) increase in sales.
The Lowry Outlet is located a few minutes’ walk from MediaCityUK and has recently secured a long-term commitment from Vue Cinemas.
Recently, Vue opened a new big screen experience at Lowry Outlet, as the regeneration of the scheme into one of the city’s leading leisure destinations gathers pace. Vue signed a new 20-year lease before embarking on a multimillion-pound refit which transformed the venue into a luxury seven-screen complex.
It is anticipated that the upgraded cinema will bolster the outlet’s footfall figures by at least half a million visitors per year as more people are going to the cinema than at any time in the last fifty years. Last year, cinema attendance in the U.K. topped 177 million, the highest number since 1970.
The cinema upgrade is part of a wider leisure rejuvenation programme currently underway at Lowry Outlet. Lifestyle Outlets is creating an additional 35,000 sq ft of new leisure space, which will supplement the new cinema. Additionally, Lifestyle Outlets has been granted planning consent to transform the waterfront into a landmark destination – ‘The Watergardens’. The £26m investment will deliver a quality new food and beverage space in the centre of historic Salford Quays.
The Watergardens’ first restaurant is set to open in 2020 and will be connected to the iconic Millennium Bridge by a new waterfront promenade. It is within a short distance of some of Manchester’s most popular attractions, including Old Trafford, The Lowry Theatre and The Imperial War Museum North.
Jason Pullen, managing director, Lifestyle Outlets, said: “The 8.5% increase in YOY sales highlights our experience-led outlet model is outperforming the wider retail market and that consumers are placing a greater importance on a really strong leisure offering in combination with outlet shopping.
“It is great news that Vue has committed to a new 20-year lease and completed a multimillion-pound upgrade, as it complements our ongoing work to make Lowry Outlet one the city’s go-to leisure spots. Our investment will deliver a perfect blend of leisure and entertainment underpinned by an exciting retail offering, bringing the waterfront to life and creating a real destination of choice for Manchester. As shopping habits continue to change and leisure and entertainment facilities grow in importance, the popularity of Lifestyle Outlets will continue to thrive.”