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Construction work has begun at the Premier Outlets Center, Ringsted, Denmark, the factory outlet scheme joint venture between Miller Developments and TK Development.

The 16.5 acre (6.5 hectare) development received full planning consent in February 2006 and will comprise 129,000 sq ft (12,000 sq m) of prime factory outlet space just 45 minutes drive from Copenhagen.

At today’s corner stone foundation ceremony, Phil Miller, chief executive of Miller Developments, commented: “The Premier Outlets Center at Ringsted will be Denmark’s first factory outlet scheme, providing a landmark, high-quality retail environment. This is a proven formula that is attracting both national and international brands and, with pre-letting going extremely well, we expect to open the center within twelve months

Robert Andersen, executive vice president at TK Development, added: "Denmark’s economy is very healthy and the strong interest from prospective tenants confirms the demand for the country’s first large-scale outlet center. The outlet sector in Denmark has been underserved until now and this opportunity is being received with enthusiasm by retailers.”

Considering that a number of anchor tenants have been secured, among these the well-known brands NIKE, Levi’s and Mango, the joint venture partners are confident about the potential of the project.

A local Danish contractor, Hornum Murer & Entrepreneur, has been appointed as general contractor for the scheme, the architect behind the village-style project is the Danish firm Bjork & Maigaard, and the consulting engineering company is COWI.

Miller Developments has committed to developing and investing throughout Europe, with retail parks developed or planned in Portugal in addition to the third phase of the successful Premier Outlet Center in Budapest, Hungary.

TK Development performs its activities northern and central Europe, focusing on the development of real estate. The group’s recent project news includes the sale of a shopping center in Sosnowiec, Poland; the sale and construction start of the shopping center Entré in Malmö, Sweden and, most recently, the sale of a retail park in Ostrava in the Czech Republic.

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Source : Miller Developments, December 2006