Member Article

Gloucester Quays celebrates record year of leasing in 2023, resulting in double-digit growth

Peel L&P is celebrating a year of record leasing in 2023 for premier South West urban outlet, Gloucester Quays. The sector-leading retail and leisure destination saw double-digit growth at the close of 2023, exceeding targets across footfall and sales, and experiencing high demand from international powerhouse brands throughout the year.

Gloucester Quays enjoyed a significant rise in both footfall and sales figures in 2023, surpassing 2022’s figures by 5.5% and 6.5% respectively. The outlet experienced record leasing, welcoming a number of leading international names to its line-up, including the likes of PUMA, Timberland, and NEXT, driving footfall to the destination combined with its comprehensive, full-day out experience and busy calendar of consumer activations.

The period of successful leasing drove demand at the destination, combining with its industry-leading events programme to create a unique and comprehensive visitor experience. Gloucester Quays saw footfall increase by 9.1% in December versus 2022, as visitors shopped and dined at the outlet ahead of Christmas, whilst overall spend had been trending up for longer when compared with the same months in 2022. November and December combined saw sales rise considerably, retail and F&B spend increasing by 10.4% and 10.5% respectively. Retail came to the fore in November with a 13.4% sales uplift, whilst the emphasis shifted to F&B in December as spend rose by 12.7%, indicating that visitors had greater focus on getting Christmas shopping done earlier, and then prioritised socialising closer to the holiday.

Paul Carter, Asset Director at Peel L&P, commented: “2023 was a milestone year for Gloucester Quays, and we are extremely proud of the outlet’s continued success: the record-breaking figures speak for themselves. The outlet continues to establish itself as a unique, industry-leading, all-day destination where both locals and new visitors alike want to spend meaningful time.

“Tracking these numbers really helps us understand who our visitors are and their motivations, and the way retail and F&B spend grew in November and December paints a great picture, something we will use to ensure we are consistently delivering a quality, tailored experience and tenant mix. We look forward to maintaining this momentum into 2024, upholding Gloucester Quays’ consistently engaging and diverse outlet offer.”

Peel has also taken significant steps in 2023 to make Gloucester Quays a more sustainable destination. Earlier in the year, it became the first shopping-led destination in the country to achieve UKGBC’s ‘Net Zero Carbon – Operational Energy’ accreditation, and followed that up with a 3* GRESB award.

This was posted in Bdaily's Members' News section by Nick Thornton .