Brendon O’Reilly, Director of GVA Grimley Outlet Services, announced plans for the first Outlet Centre in Slovenia with phase 1 due to open in Autumn 2010. The Ljubljana Outlet Centre is a joint venture between a local developer and Raiffeisen Leasing. The Centre will be managed and operated by GVA Grimley Outlet Services, the largest independent European Outlet operators.

Borut Božiè, Director of the JV development company, comments: "We are delighted to appoint GVA Grimley Outlet Services as they are experts in their field and know the Outlet sector inside out. We have appointed them as the managers and operators as well as the international leasing agents."

Brendon O’Reilly, Director, GVA Grimley Outlet Services, explains: "The Outlet Sector remains an attractive investment opportunity with huge potential for growth across Europe and one of the few retail areas bucking the credit crunch trend. Slovenia is ideal for this kind of project. It is the wealthiest of the accession states with GDP per head (USD purchasing power parity) of 27,191. Western Slovenia has currently reached 104% of EU average income and with a healthy rate of economic growth and a drive for rapid social change there is a clear demand for and awareness of Western brands and an expanding market for local brands giving the ideal platform for the perfect investor, retailer and consumer mix for a successful Outlet Centre."

The Ljubljana Outlet Centre will have 25,000 m² of Outlet space and is situated immediately adjacent to the newly expanded airport in a development zone consisting of commercial and logistics sites. It is only 15 minutes from Ljubljana town center and adjacent to the A2 highway, with up to 27,000 cars passing by each day in peak months. The center is within easy driving distance of the vast majority of 2 million Slovenes as well as attracting Croatians from Istria, Italians from the north east, and Austrians from key cities such as Klagenfurt, Villach and Graz.

Jurij Schollmayer, Director of the JV development company, outlines the look and feel of the Centre: "The site is in a heavily wooded area in the beautiful region of Gorenjska, with spectacular views of the Karavanke mountain range. We intend to incorporate many eco-friendly measures in to the construction, and natural materials will be used where possible. The site plan will be finalized in the next month and many features from the charming farm villages in immediate surroundings will be used as inspiration for the facades. It will not only be a great shopping experience it will also be a stunning location."

Brendon adds: "This is the latest addition to our ever increasing management portfolio and we are currently involved in researching new and emerging markets with other investors as well as providing a high quality service for our current projects with a team of experts in the Outlet sector offering everything from inception to investor exit working closely with private investors and institutional fund clients who are looking to add value to their assets, developers and owners providing leasing and operations management, and brands providing retail management and outlet retailing consultancy. There is nothing we don’t know about the Outlet sector and we are confident that Slovenia will be the next in a long line of successful ventures for all involved."

Source: GVA Grimley.

http://www.europe-re.com, 20 October 2008.